Sustainability and BRSR reporting developments
SEBI Working Group on ESG Rating Providers – Emerging Sustainability Oversight
In February 2026, the Securities and Exchange Board of India (SEBI) constituted a dedicated Working Group to Review the Regulatory Framework for ESG Rating Providers (ERPs) aimed at enhancing the governance and credibility of ESG ratings in India. The group includes representatives from issuers, investors, ESG users, domestic and global rating agencies, legal experts and academia, and has been tasked with conducting a comprehensive review of the existing ERP framework based on stakeholder feedback. Its mandate is to recommend measures that will strengthen transparency, reliability and investor confidence in ESG ratings, while also examining international regulatory practices and identifying areas for alignment with global best standards. SEBI has stated that the group will submit its findings and policy recommendations to the regulator to inform future regulatory changes in the ERP ecosystem.
