The European Commission has released proposals to regulate ESG ratings providers in a move which could cause a fracturing of industry majors' operations.
The proposals form part of a new package of sustainable finance measures released yesterday (13 June), which also include an expansion of the criteria for environmental activities to qualify under the EU Taxonomy, and a focus on facilitating transition finance activities. The Commission cited a market for ESG ratings which "suffers from a lack of transparency" as the motivation for additional oversight, discussions for which will now commence with the European Parliament and Council. Limited detail has been given regarding expected timescales. Concerns over conflicts of interest amo...
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10 October 2023
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2 min read
