Resurgent ESG Services Secures SEBI Approval, Eyes Transformative Impact

Resurgent ESG Services, a strategic arm of Resurgent India, has gained SEBI approval to become an ESG rating provider. Aiming to support businesses with sustainable practices, the company plans to expand its client base significantly in the next few years, while bolstering its workforce for effective ESG solutions.

Resurgent ESG Services Pvt. Ltd, a wholly-owned subsidiary of Resurgent India, has received an official nod from the Securities and Exchange Board of India (SEBI) to operate as an Environmental, Social, and Governance (ESG) rating provider. ESG reporting enables companies to disclose their environmental, social, and governance practices, offering insights into their sustainability commitments.

In a bid to meet the growing demand for ESG services, Resurgent India launched RESPL to offer businesses tailored ESG ratings, which serve as indicators of long-term sustainability and ethical business operations. The division's services include developing robust ESG governance frameworks, conducting due diligence, creating sustainable finance strategies, crafting specialised Corporate Social Responsibility (CSR) plans, and offering targeted training programs.

RESPL anticipates onboarding 20 clients within the first nine months of its operations in the fiscal year 2024-2025, with projections of expanding to 48 clients by 2025-2026 and reaching 72 by 2026-2027. The company also plans to expand its workforce, adding five staff members next fiscal year, increasing the team size from the current two to seven. Jyoti Prakash Gadia, Managing Director of Resurgent India, emphasizes that ESG is crucial not only for compliance but as a pathway to long-term economic prosperity. Strong ESG ratings, he claims, position companies to attract capital, operate efficiently, and bolster the broader economic sustainability. Amid a global push for ESG transformation, India is adopting global standards, with regulations and guidelines facilitated by entities like the Ministry of Corporate Affairs (MCA) and SEBI. Companies are thus required to comply with ESG norms specific to their operational jurisdictions.

(With inputs from agencies.)