Nearly a dozen companies, including MSCI and the London Stock Exchange Group, have applied to become ESG rating providers in India. This comes as India emphasizes its sustainability ambitions as the world’s fastest-expanding major economy. Since FY20, companies have been required to disclose their ESG performance, and starting from FY23, they must disclose nearly 1,600 data points in the Business Responsibility and Sustainability Report (BRSR).
Equity benchmark indices open positively with Sensex rising 250 points, driven by financial stocks. The BSE Sensex and Nifty climb, but HUL and Reliance Industries shares suffer from their December quarter results. Most financial stocks perform well, while global oil benchmark Brent crude declines. Domestic equity markets are predicted to have subdued activity, with normal trading sessions announced on Saturday.
Indian government is in talks with Microsoft, IBM, HCL Tech, and others to establish international awarding bodies for skill certification. The plan aims to have at least 10 bodies in the next two months and double it to 20 by July 2024.
