On October 27, 2016 The Economic Times reported that pension funds managed by Norges Bank sold shares in seven Indian companies in April 2016, due to their lack of disclosure of environmental data. According to the article, other Indian companies are at risk due to their poor disclosure and management of ESG issues. The article lists the seven largest investors in Indian equities, noting the amount each has invested and the top Indian companies owned.
The article concludes, “Like it or not, ESG compliance is here to stay. Responsible investors would continue to pick only ESG-friendly companies. Pure return-focused mainstream funds may still take opportunistic bets on companies with poor ESG scores, but they will always be wary of such investments.”
You may read the article on The Economic Times internet site.