The Environmental, Social and Governance (ESG) Ratings Activities Regulation : A Commentary.

Format:

Book

Author/Creator:

Miglionico, Andrea.

Contributor:

Edward Elgar Publishing, publisher.

Series:

Elgar commentaries in financial law.

Elgar commentaries in financial law series

Language:

English

Subjects (All):

Corporate governance.

Compliance auditing.

Genre:

Law commentaries.

Physical Description:

1 online resource (326 pages)

Edition:

1st ed.

Place of Publication:

Northampton : Edward Elgar Publishing, 2025.

Summary:

This authoritative Commentary examines the EU regulatory regime for environmental, social, and governance (ESG) ratings providers. In doing so, it provides a deep dive into the regulatory framework, evaluating the operation of ESG providers and their transparency and disclosure mechanisms, and outlines loopholes in EU Regulation.

Contents:

Front Matter

Copyright

Contents

Extened Contents

List of contributors

Preface

Acknowledgements

List of abbreviations

Table of cases

Table of legislation

TITLE I: SUBJECT MATTER, SCOPE AND DEFINITIONS

ARTICLE 1: Subject matter

ARTICLE 2: Scope

ARTICLE 3: Definitions

TITLE II: PROVISION OF ESG RATINGS IN THE UNION

ARTICLE 4: Requirements to operate in the Union

ARTICLE 5: Temporary regime for small ESG rating providers

CHAPTER I: Authorization of ESG rating providers established in the union to operate in the Union

ARTICLE 6: Application for authorization to operate in the Union

ARTICLE 7: Examination by ESMA of the application for authorization to operate in the Union as an ESG rating provider

ARTICLE 8: Decision to grant or refuse authorization to operate in the Union and notification of that decision

ARTICLE 9: Suspension or withdrawal of authorization

CHAPTER II: Equivalence, endorsement and recognition of ESG rating providers established outside the Union to operate in the Union

ARTICLE 10: Equivalence regime

ARTICLE 11: Endorsement of ESG ratings provided by ESG rating providers established outside the Union

ARTICLE 12: Recognition of ESG rating providers established outside the Union

ARTICLE 13: Cooperation arrangements

CHAPTER III: Register and accessibility of information

ARTICLE 14: Register of ESG rating providers and accessibility of information on the European single access point

TITLE III: INTEGRITY AND RELIABILITY OF ESG RATING ACTIVITIES

CHAPTER I: Organizational requirements, processes and documents concerning governance

ARTICLE 15: General principles

ARTICLE 16: Separation of business and activities

ARTICLE 17: Rating analysts, employees and other persons involved in the provision of ESG ratings.

ARTICLE 18: Record-keeping requirements

ARTICLE 19: Complaint-handling mechanism

ARTICLE 20: Reasoned concerns

ARTICLE 21: Outsourcing

ARTICLE 22: Exemptions from governance requirements

CHAPTER II: Transparency requirements

ARTICLE 23: Disclosure to the public of the methodologies, models and key rating assumptions used in ESG rating activities

ARTICLE 24: Disclosures to users of ESG ratings, rated items and issuers of rated items

CHAPTER III: Independence and conflicts of interest

ARTICLE 25: Independence and avoidance of conflicts of interest

ARTICLE 26: Management of potential conflicts of interest arising from employees

ARTICLE 27: Fair, reasonable, transparent and non-discriminatory treatment of users of ESG ratings

CHAPTER IV: Supervision by ESMA

Section I: General principles

ARTICLE 28: Non-interference with the contents of ratings or methodologies

ARTICLE 29: ESMA

ARTICLE 30: Competent authorities

ARTICLE 31: Exercise of the powers referred to in Articles 32, 33 and 34

ARTICLE 32: Requests for information

ARTICLE 33: General investigations

ARTICLE 34: On-site inspections

Section II: Supervisory measures and penalties

ARTICLE 35: Supervisory measures by ESMA

ARTICLE 36: Fines

ARTICLE 37: Periodic penalty payments

ARTICLE 38: Disclosure, nature, enforcement and allocation of fines and periodic penalty payments

Section III: Procedures and review

ARTICLE 39: Procedural rules for taking supervisory measures and imposing fines

ARTICLE 40: Hearing of persons subject to investigations

ARTICLE 41: Review by the Court of Justice of the European Union

Section IV: Fees and delegation

ARTICLE 42: Supervisory fees

CHAPTER V: Cooperation between ESMA and the competent authorities

ARTICLE 43: Delegation of tasks by ESMA to the competent authorities.

ARTICLE 44: Exchange of information

ARTICLE 45: Notifications and suspension requests by the competent authorities

ARTICLE 46: Professional secrecy

TITLE IV: DELEGATED AND IMPLEMENTING ACTS

ARTICLE 47: Exercise and revocation of the delegation and objections to delegated acts

ARTICLE 48: Committee procedure

ARTICLE 49: Amendment to Regulation (EU) 2019/2088

ARTICLE 50: Amendment to Regulation (EU) 2023/2859

TITLE V: TRANSITIONAL AND FINAL PROVISIONS

ARTICLE 51: Transitional provisions

ARTICLE 52: Review

ARTICLE 53: Entry into force and application

Index.

Notes:

Description based on publisher supplied metadata and other sources.

Part of the metadata in this record was created by AI, based on the text of the resource.

ISBN:

1-03-538165-6

1-03-533862-9

9781035338627

OCLC:

1570229565