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Sustainable finance: ESMA, too many differences on ESG criteria

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(ANSA) – ROME, FEBRUARY 13 – There are still too many differences on the criteria adopted by the rating agencies in the disclosure and assessment of environmental, social and governance (ESG) factors. The recall comes from the European Securities and Markets Authority (ESMA) which notes that the overall quality of disclosure has improved since the Guidelines were introduced in 2020, but that “the high level of divergence between the rating “is” rather surprising “and” shows that there is still room for further improvement “. And this is the goal of the “consultation” launched between rating agencies, companies and investors which will end in March.

Investors’ interest in sustainable finance has grown exponentially in recent years and only in the first half of 2021, the assets of ‘sustainable’ funds in the EU have increased by 20% – observes ESMA – to 1,500 billion. of Euro. “As a result, the Authority remarks – some rating agencies have tried to become more transparent about how ESG factors are integrated into their credit ratings.” But from the analysis of more than 64,000 ratings agency press releases published in 2020, it emerges that “the extent of ESG information differs significantly between rating agencies and ESG factors, especially environmental issues.” (HANDLE).

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Source: Ansa

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