ESG rating provider registration required: mandatory certification, disclosure, governance and conflict of interest safeguards for ESG ratings. Regulations create a statutory regime for ESG rating providers requiring Board-issued certificates in specified categories, adherence to eligibility and prudential criteria (including corporate form, liquid net worth, specialist staffing, compliance officer and fit and proper promoters), restrictions on activities and shareholdings, and submission of a business plan. Registered providers must publicly disclose methodologies, category and E/S/G weightages, maintain records, monitor and periodically review ratings, prevent and mitigate conflicts of interest, ensure independence of rating decisions, and furnish financial and operational information to the Board as prescribed.
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ESG rating provider registration required: mandatory certification, disclosure, governance and conflict of interest safeguards for ESG ratings.
Regulations create a statutory regime for ESG rating providers requiring Board-issued certificates in specified categories, adherence to eligibility and prudential criteria (including corporate form, liquid net worth, specialist staffing, compliance officer and fit and proper promoters), restrictions on activities and shareholdings, and submission of a business plan. Registered providers must publicly disclose methodologies, category and E/S/G weightages, maintain records, monitor and periodically review ratings, prevent and mitigate conflicts of interest, ensure independence of rating decisions, and furnish financial and operational information to the Board as prescribed.
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