Text mining ESG disclosures in rating agency press releases

Investor interest in sustainable finance has grown exponentially in recent years. With this in mind, some credit rating agencies (CRAs) have sought to become more transparent as to how environmental, social, and governance (ESG) factors are integrated into their credit ratings.
To ensure a consistent level of transparency for investors on ESG issues, on 30 March 2020 ESMA began to apply Guidelines for how and when CRAs’ considerations of ESG factors are disclosed in credit rating press releases. This article assesses the implementation of these
Guidelines, as also envisaged in the European Commission’s Renewed Sustainable Finance Strategy.

esma80-195-1352_cra_esg_disclosures

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