Market Characteristics of ESG Rating and Data Providers in the EU: Do we need regulatory Safeguards for ESG Rating Products?



ESMA Call for Evidence

Views on Shortcomings in the ESG Rating or ESG Data Products

  1. Low levels of transparency of methodologies and of data sources
  2. Lack of comparable and standardised data, together with a proven low correlation between ESG ratings provided by different entities
  3. Low coverage of SME’S
  4. Need for an alignment of definition and approaches concerning what is meant by “ESG” and what is the purpose of an ESG rating
  5. Delays in updating the underlying data of ESG ratings, and frequent unavailability or late responsiveness to error reporting or comments submitted by companies
  6. US-bias” resulting from the increasing market concentration
  7. Price increase due to increase in market concentration


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