The Securities and Exchange Board of India (Sebi) will finalise a new framework around environmental, social, and governance (ESG) ratings and disclosures at its upcoming board meeting on March 29, said people in the know.
The Sebi board is also likely to finalise the annual budget for the next financial year (2023-24). The board meeting is coming at a time when the Supreme Court (SC) has directed the markets regulator to complete its investigation into the Adani-Hindenburg saga within two months and submit the status report.
Sources said the regulator's board could also deliberate on the issue and SC's directions. Sebi has already undertaken an investigation into the allegations made in the Hindenburg Research report and is investigating stock price manipulation and short-selling activity.
At present, India Inc has been disclosing ESG-related information under the so-called Business Responsibility and Sustainability Reporting (BRSR) framework, made mandatory for the top 1,000 firms from the current financial year (202223). However, there is no auditing mandated for this reported data.
This story is from the March 24, 2023 edition of Business Standard.
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This story is from the March 24, 2023 edition of Business Standard.
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