Climate Series

ICRA Research launched its Climate Series following the announcement of India’s climate goals in FY2022. This series focuses on India’s green initiatives, global sustainability practices, funding needs, and various government policies designed to support environmental efforts both domestically and internationally.

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Regular Research

Special Comments

Date	Sector	Reports	Category
21 Jan 2026	Climate Series	JCM’s strong RE track record supports India’s NDC targets and is a key milestone for carbon market	Thematic Report
03 Oct 2025	Climate Series	Mission’s success depends on reducing imports by tapping into domestic manufacturing strength	Thematic Report
02 Jul 2025	Climate Series	Developing countries may face climate fund setbacks due to USA exit from Paris Accord	Thematic Report
10 Jun 2025	Climate Series	Adequate projects announced to meet targeted production capacity; however, negligible progress on the ground	Thematic Report
21 Jan 2025	Climate Series	High dependence on agriculture and livestock and presence of small landholders necessitate Government support for sustainable agriculture	Thematic Report
20 Jan 2025	Climate Series	India's first-ever offshore critical mineral auctions position the nation alongside China, Japan, the USA, Belgium, and Norway in the race to unlock valuable sea-based deposits	Thematic Report
30 Sep 2024	Climate Series	Green Housing adoption needs policy push, financial, social measures to take off	Thematic Report
31 Jul 2024	Climate Series	Five states face water stress, while 60% districts witness water scarcity; more efforts needed from Govt, private sector and society to create sustainable water management	Thematic Report
31 Jul 2024	Climate Series	Union Budget FY2025 focuses on climate cost, finance, infrastructure, sustainable practices to build a green ecosystem in the long term	Thematic Report
26 Jun 2024	Climate Series	Existing climate funding avenues in India seem inadequate amid rising carbon emissions and steady economic growth	Thematic Report
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Credit Perspective Reports

ICRA's 'Credit Perspectives' provide detailed analysis on ratings assigned. These reports broadly cover the following areas: Key rating considerations..

What's latest in CPR

InCred Financial Services Limited
18 Jun 2026
Arth Padarth Factors and Finance Private Limited
18 Jun 2026
Apraava Smart Meter Private Limited
18 Jun 2026
Srilanand Mansions Private Limited
17 Jun 2026
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Rating Rationales

Date	Category	Report
18 Jun 2026	Structured Finance Rating	Muthoot Capital Services Limited: Ratings confirmed as final for instruments backed by two-wheeler loan receivables issued by WHITFORD 03 2026
18 Jun 2026	Structured Finance Rating	DMI Finance Private Limited: Provisional [ICRA]AA+(SO) assigned to PTC Series A1 issued by PLUM 27-2, backed by a pool of personal loan receivables
18 Jun 2026	Structured Finance Rating	Five-Star Business Finance Limited: Rating upgraded for PTCs issued under a small business loan securitisation transaction
18 Jun 2026	Structured Finance Rating	Spandana Sphoorty Financial Limited: Ratings withdrawn for PTCs issued under two microfinance loan securitisation transactions
17 Jun 2026	Structured Finance Rating	Fusion Finance Limited: Rating confirmed as final for PTCs issued under micro finance loan receivables securitisation transaction
17 Jun 2026	Corporate Debt Rating	Zerodha Capital Private Limited: Ratings reaffirmed; enhancement in the rated amount for bank line facilities; rating withdrawn for the NCD programme
17 Jun 2026	Structured Finance Rating	Arth Padarth Factors and Finance Private Limited: Provisional [ICRA]A-(SO) assigned to Series A PTC and Provisional [ICRA]BBB-(SO) assigned to Series B PTC to be issued by REST 14
17 Jun 2026	Corporate Debt Rating	Raise Securities Private Limited: [ICRA]A+(stable)/[ICRA]A1+ assigned to bank line facilities; rating reaffirmed for commercial paper
17 Jun 2026	Corporate Debt Rating	Viyash Scientific Limited (formerly known as Sequent Scientific Limited).: Update on material event
17 Jun 2026	Corporate Debt Rating	HMC MM Auto Limited: Rating reaffirmed