ICRA ESG Ratings gives its first rating to InCred Financial Services

ICRA ESG Ratings Limited, a subsidiary of ICRA, has assigned its first Environmental, Social, and Governance (ESG) rating to InCred Financial Services, a non-banking financial company (NBFC) specializing in personal, student, and business loans. The rating, Impact 57 with a Moderate classification, aims to help investors evaluate non-financial risks and opportunities, fostering a more sustainable and responsible investment landscape. The ICRA ESG-assigned ratings also assist the rated entity in understanding and planning its future sustainability actions. The adoption of ESG ratings in India is seen as a catalyst for positive change and a more inclusive, environmentally conscious business environment. Ramnath Krishnan, MD & Group CEO of ICRA Limited, highlighted this development as a significant step in promoting sustainable development and responsible investing. ICRA ESG offers Impact, Transition, and Combined ratings to entities based on SEBI s regulatory framework, with a rating scale ranging from 0 to 100. The ESG Impact Rating reflects the state of a rated entity s ESG profile, considering the impact of its business activities on the environment and society, in light of its governance practices. This initiative by ICRA ESG is part of a broader effort to provide holistic risk-monitoring solutions, including ESG ratings and scores, to Indian entities. The development marks a pivotal step in ICRA Group s commitment to promoting sustainable development and responsible investing. The ICRA ESG ratings are expected to help investors make better investment decisions and encourage companies to adopt more sustainable practices. (Note: The headline and picture of this report may have been reworked by the Business Standard staff, while the rest of the content is auto-generated from a syndicated feed.)

Source: business-standard.com
Published on 2024-09-15