ESG Sub-category for Equity Schemes Introduced by SEBI
Friday, 21 July 2023
According to the current regulatory criteria, Mutual Funds are only allowed to introduce one equity scheme that includes ESG investment.
An ESG Advisory Committee was established by SEBI to make suggestions for additional steps to enhance transparency, with a special focus on mitigating risks of mis-selling and greenwashing. This committee made recommendations for extending the disclosure requirements for ESG funds.The SEBI (Mutual Funds) Regulations, 1996 were amended on June 27, 2023(link), taking into account the recommendations of the ESG Advisory Committee and in response to public consultation on the subject. Among other things, the amendments state that funds under ESG schemes must be invested according to the methods SEBI has from time to time specified.
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