Circular on Mutual Fund schemes for ESG Investing and related disclosures

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The Security and Exchange Board of India set rules for ESG funds to apply from 1 October 2024. Under these rules, at least 80% of an ESG fund's assets under management must be invested in line with its ESG strategy (Article 4.1.2). At least 65% of the fund's AUM must be invested in companies with comprehensive business responsibility and sustainability reporting disclosures (Article 4.2.1). If not compliant by 1 October 2024, the ESG fund has until 30 September 2025 to ensure compliance. However, during that one year, the fund should not undertake any fresh investments in companies without assurance on Business Responsibility and Sustainability Reporting Core disclosures.
This circular is issued in accordance with Section 11(1) of the Securities and Exchange Board of India Act, 1992, read with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996.

Circular on Mutual Fund schemes for ESG Investing and related disclosures 

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An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives