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ICRA ESG Ratings Ltd (ICRA ESG), a wholly-owned subsidiary of ICRA Ltd, has assigned its first Environmental, Social, and Governance (ESG) rating to InCred Financial Services Ltd.
The Non-Banking Financial Company (NBFC), which focuses on personal loans, student loans, business loans, etc., has been assigned a rating of “Impact 57, Moderate”.
An ESG Impact rating between 40 and 59 indicates that the entity has a moderate commitment to ESG principles and has yet to meaningfully adopt comprehensive sustainability practices.
ICRA ESG said the ESG-assigned ratings help investors assess the non-financial risks and opportunities associated with entities and facilitate making better investment decisions, paving the way for a more sustainable and responsible investment landscape.
The agency added that these ratings also help the rated entity gain a better understanding and diagnostics of its ESG impact and accordingly plan and execute its future sustainability actions.
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