Alpha-Centric ESG Research

Kyle Rudden

I am an ESG (Environmental, Social, Governance) analyst with an alpha-centric approach to ESG research. After all, ESG investing is, first and foremost, investing. "Alpha-centric" does not mean apathetic, however. Quite the contrary. I believe global sustainability – i.e., environmental stewardship, social equality, and economic prosperity – is imperative, and private-sector capital is its cornerstone. Private-sector capital still has fiduciary responsibilities. Profitability is necessary for sustained impact. The Triple Bottom Line. People, Planet, AND Profit.

More importantly, you. I value your investment in Smartkarma research, and commit to Insights worthy of your time and money. That means giving ASEAN ESG the attention it deserves, and with Insights that are substantive and differentiated; the intersection of material and under-covered. You can expect investigative research into emergent ESG issues; data-driven analyses of deals (pre-IPO ESG research, ESG-focused M&A consequence analyses, etc.); and trading-oriented ideas like ESG short selling and playing ESG index constituency changes.

I bring both ESG expertise and traditional investing experience, as well as some rather unique perspectives on ESG (a lesson in governance from Enron, anyone?). I spent the last decade exclusively on ESG, researching links to equity returns, credit ratings, cost of capital, and yield spreads. I also contributed to ESG reporting standards (SASB and GRI), and the MBA curriculum (Impact Investing) at the Kellogg School of Management. Previously, I was an Institutional Investor and Wall Street Journal All-Star sell-side analyst at J.P. Morgan.

Please, feel free to contact me about anything.

Credit Rating Agency Stocks Most Impacted by SEBI Regulation of ESG Ratings in India

ESG Ratings and Data Providers Subject to Greater Oversight Under IOSCO Framework

<ul>
<li>On 25 January, the Securities and Exchange Board of India (SEBI) issued a consultation paper regarding a regulatory framework governing ESG ratings and ratings providers in India.</li>
<li>SEBI's framework aims to standardise ESG ratings, increase transparency, and reduce conflicts of interest to improve the quality and usefulness of ESG ratings and derivative products.</li>
<li>SEBI-Registered Credit Rating Agencies such as <a href="https://www.smartkarma.com/entities/crisil-ltd" target="_blank" data-smartkarma-citation="entities:15699:1" rel="noopener">CRISIL (CRISIL IN)</a> and <a href="https://www.smartkarma.com/entities/icra-ltd" target="_blank" data-smartkarma-citation="entities:12560:1" rel="noopener">ICRA (ICRA IN)</a> are the focus, but other entities and products (e.g., ESG indexes/indexers) are under its purview.</li>
</ul>


On 25 January, the Securities and Exchange Board of India (SEBI) issued a consultation paper regarding a regulatory framework governing ESG ratings and ratings providers in India.
SEBI's framework aims to standardise ESG ratings, increase transparency, and reduce conflicts of interest to improve the quality and usefulness of ESG ratings and derivative products.
SEBI-Registered Credit Rating Agencies such as CRISIL (CRISIL IN) and ICRA (ICRA IN) are the focus, but other entities and products (e.g., ESG indexes/indexers) are under its purview.


Regulating ESG Ratings in India: Outline of SEBI's Proposed Regulatory Framework

Crisil Ltd

Regulating ESG Ratings in India: Outline of SEBI's Proposed Regulatory Framework