Regulatory Alerts2026-02-27
Revised Norms for Appointment of Independent Third-Party Reviewer for Green Debt Securities
The Securities and Exchange Board of India (SEBI) has issued a circular amending Chapter IX of the NCS Master Circular to align the appointment requirements for independent third-party reviewers of green debt securities with those for other ESG debt securities. The revised norms mandate that issuers appoint an independent reviewer with specific expertise who is free from conflicts of interest and remunerated appropriately to verify compliance with green security definitions. Issuers must disclose the reviewer's details and the scope of review, which may include second-party opinions, verification, certification, or scoring, in the offer document effective immediately.
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