ESMA finds high level of divergence in disclosure of ESG factors in credit ratings


Date: 07 March 2022
On 10 February 2022, the European Securities and Markets Authority (ESMA) published an article assessing the implementation of ESMA’s Guidelines on the disclosure of environmental, social, and governance (ESG) factors in credit rating agency (CRA) press releases. ESMA finds that the overall level of disclosures has increased since the introduction of the Guidelines, but that a high level of divergence across CRAs means there is still room for further improvement.