IFC backs social responsibility index for emerging markets

The International Finance Corporation (IFC) has backed an initiative to create a new environmental, social and corporate governance (ESG) index for emerging markets. The new index aims to improve understanding of ESG in emerging markets amongst international investors who are restricted by mandates but keen to invest in this area.

The IFC will provide funds to develop the new benchmark index, which is being created by a consortium comprising Standard & Poor’s and Indian rating agency Crisil.

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