ICRA ESG Ratings assigns its first rating to InCred Financial Services

ICRA ESG Ratings Limited has given its first Environmental, Social, and Governance (ESG) rating to InCred Financial Services, a non-banking financial company. ICRA ESG received approval as a Category-me ESG Rating Provider (ERP) from the Securities and Exchange Board of India (SEBI) earlier this fiscal year. ICRA ESG was previously known as Pragati Development Consulting Services Limited (PDCSL).

InCred Financial Services Limited, a Non-Banking Financial Company (NBFC) that focuses on personal loans, student loans, and business loans, received a rating of [ICRA ESG] Impact 57, Moderate. This was announced by ICRA ESG Ratings Limited (ICRA ESG), a wholly-owned subsidiary of ICRA. The assigned ratings by ICRA ESG help investors evaluate the non-financial risks and opportunities associated with entities, enabling better investment decisions and promoting a more sustainable and responsible investment landscape.

These ratings also assist the rated entity in understanding and diagnosing its ESG impact, and in planning and implementing future sustainability actions according to ICRA ESG.

Ramnath Krishnan, MD & Group CEO of ICRA Limited, commented that the adoption of ESG ratings in India will drive positive change and promote a more inclusive and environmentally conscious business environment. ICRA ESG provides Impact, Transition, and Combined ratings to entities by SEBI's regulatory framework, using a rating scale from 0 to 100.

The ESG Impact Rating reflects the state of a rated entity's ESG profile in terms of the impact of its business activities on the environment and society, against the backdrop of its governance practices.