EIT Climate-KIC supported firm Beyond Ratings, a financial services company that specialises in environmental, social, and governance (ESG) analysis, has now been designated a credit rating agency by the European Securities and Markets Authority (ESMA).
ESMA is the single direct supervisor of credit rating agencies (CRAs) in Europe. Its mandate stems from the EU’s CRA regulation, which ensures a common framework and minimum quality standards for credit ratings issued in the European Union. ESMA’s decision allows Beyond Ratings to issue ratings for central, regional, and local governments as well as policy-driven financial institutions.
“We believe ESMA accreditation validates our central proposition that ESG analysis is essential to evaluate all manner of risks, including credit risks of sovereigns (...)