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S&P gets responsible

Standard & Poor’s and its Indian affiliate CRISIL are to head a consortium that will develop the first index of emerging market companies based on their environmental, social and corporate governance (ESG) performance.

The initiative is backed by the International Finance Corporation, the private arm of the World Bank, which will provide funding to a consortium comprising Standard & Poor’s, CRISIL and KLD, the social and environmental research firm, to develop the new benchmark.

Under the project, a pilot index will be created in India, comprising of leading Indian companies that meet certain ESG criteria, and

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