Gov't Drafts Bill on Nat'l ESG Framework

Initiatives

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The government has drafted a bill on establishing a national environmental, social and governance (ESG) framework, the Economic Development Ministry said on Tuesday, according to a report by state news wire MTI.

The draft bill aims to preserve the competitiveness of local companies while allowing consumers to take decisions based on sound information, the ministry said.

It pointed to the importance of improving the predictability of economic regulation with regard to ESG data provision and ratings, as well as eliminating discrepancies in expectations of ESG rating providers, customers, and financing parties.

The text of the draft will be posted on the government website for social consultation.

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