ESMA consults on possible amendments to the Credit Rating Agencies Regulatory Framework

The objective of the proposals is to ensure a better incorporation of ESG factors in the credit rating methodologies and subsequent disclosure to the public, as well as to enhance transparency and credibility in the credit rating process.   

In particular, they aim to: 

• ensure that the relevance of ESG factors within credit rating methodologies is subject to systematic documentation; 
• enhance disclosures on the relevance of ESG factors in credit ratings and rating outlooks; 
• deliver a more robust and transparent credit rating process through the consistent application of credit rating methodologies. 

Next steps

ESMA will consider the feedback received to this consultation and will submit its Technical Advice to the European Commission by December 2024.

Further information:

Sarah Edwards 

Senior Communications Officer
@ press@esma.europa.eu