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The S&P Global ESG Scores (including their key component the S&P Global CSA Scores) are produced and issued by S&P Global Sustainable1 utilizing the S&P Global Corporate Sustainability Assessment (CSA) and/or publicly available information. The S&P Global ESG Scores and its related materials have been published here solely for informational purposes based upon information generally available to the public and from sources believed to be reliable. The S&P Global ESG Scores (including their key component the S&P Global CSA Scores) are global ESG Scores based on S&P Global Sustainable1’s proprietary global ESG Score methodology. S&P Global Sustainable1 reserves the right to change a company’s ESG Score from time to time, in accordance with its proprietary methodologies, policies and procedures. The S&P Global ESG Scores (as may be updated) are provided “as is” and reflect S&P Global Sustainable1’s opinion as of the date they are expressed and do not constitute statements of fact. 

S&P Global gives no representations or warranties regarding the use of these S&P Global ESG Scores and related materials and/or their fitness for a particular purpose. The S&P Global ESG Scores are not recommendations to purchase, hold, or sell any securities and do not address the suitability of any security for investment decision making or for investment analysis, compliance or research purposes related to ESG investment, performance, and practices in any particular jurisdiction. The Content, including, without limitation, the S&P Global ESG Scores, should not be relied on and is not a substitute for the skill, judgment and experience of the user, its management, employees, advisors and/or clients when making investment and other business decisions. 

The S&P Global ESG Scores and any related materials, including without limitation, any portions thereof may not be (i) modified, reverse engineered, reproduced, or distributed in any form or by any means, or stored in a database or retrieval system, (ii) used to create any derivative works; (iii) used as the input value or the constituent for the creation, structuring, development, calculation, maintenance, publication, distribution or any other means to derive or establish a financial index or investment strategy; (iv) used as a component of or as the basis for corporate financing (including, without limitation, ESG-linked loans, credit facilities) or (v) used for any investment product or financial instrument to be developed, issued, traded, sold, marketed and/or promoted, including, without limitation, a security whose capital and/or income value is calculated based on changes in value of any index or any indexed fund based on the Content in whole or in part or passively managed funds.

S&P Global is committed to providing transparency to the market through high-quality independent opinions on sustainability. Safeguarding the quality, independence, and integrity of the S&P Global ESG Scores and related information, including by identifying and managing potential conflicts of interest, is embedded in its culture and at the core of everything S&P Global does. S&P Global keeps certain activities of its business units separate from each other in order to preserve the independence and objectivity of their respective activities. As a result, certain business units of S&P Global may have information that is not available to other S&P Global units. S&P Global has established policies and procedures to maintain the confidentiality of certain non-public information received in connection with each analytical process.

Local Country Conditions

India

The use of S&P Global ESG Scores on Indian Companies, which are issued by S&P Global Sustainable1, shall be restricted for use by users based in India as outlined by the applicable ESG rating provider regulation and associated guidance.

The S&P Global ESG Scores (including their key component S&P Global CSA Scores) are not recommendations to purchase, hold, or sell any securities and do not address the suitability of any Indian security for investment decision making, investment analysis, compliance or research purposes related to ESG investment, performance, and practices or other related ancillary purposes in India. The S&P Global ESG Scores should not be relied on and are not a substitute for the skill, judgment and experience of the user, its management, employees, advisors and/or clients when making investment and other business decisions. For clarity, but otherwise subject to the foregoing and the Guidelines, S&P Global Sustainable1’s S&P Global ESG Scores on Indian listed companies may be used by the rated entity (i) for their internal reference, (ii) to reference their score on their investor relations or similar company webpage, or company social media webpages, and/or (iii) in their corporate sustainability report (or similar) and/or annual report, all subject to appropriate source attribution to S&P Global Sustainable1.

For more information about our CSA methodologies visit

https://www.spglobal.com/esg/csa/csa-resources/csa-methodology

See additional Disclaimers and Terms of Use, including for S&P Global ESG Scores at

https://www.spglobal.com/en/terms-of-use#terms-of-use

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