Scramble for ERP licence even as doubts remain on the market size

About a dozen players dive into the fray

This report has been updated

Nearly a dozen entities have obtained or are in the process of obtaining regulatory licences for environmental, social, and governance (ESG) rating providers (ERPs), even as revenue streams appear limited due to the market remaining in its nascent stage.

So far, the Securities and Exchange Board of India (Sebi) has granted ERP registration to units owned by credit rating agencies ICRA, CRISIL, and CareEdge.

Besides, SES ESG Research, an arm of the voting advisory firm Stakeholders Empowerment Services (SES), has also obtained a certificate of registration.

Proxy advisory firm IiAS’ ESG scoring subsidiary has