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<h1>SEBI Requires ESG Rating Providers to Review Annually, Permits Withdrawal Under Specific Conditions</h1> ESG rating providers must review published ESG ratings annually or more frequently unless withdrawn under specific conditions. Withdrawal is permitted if the rated issuer is wound up, merged, or amalgamated, or as specified by the Securities and Exchange Board of India (SEBI). Withdrawal procedures must align with documented policies and be disclosed on the provider's website. If an issuer fails to cooperate in the review process despite contractual obligations, the provider must review the rating using the best available information and disclose this lack of cooperation to investors. These provisions were inserted by a SEBI notification in July 2023.