We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
To save content items to your account,
please confirm that you agree to abide by our usage policies.
If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account.
Find out more about saving content to .
To save content items to your Kindle, first ensure no-reply@cambridge.org
is added to your Approved Personal Document E-mail List under your Personal Document Settings
on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part
of your Kindle email address below.
Find out more about saving to your Kindle.
Note you can select to save to either the @free.kindle.com or @kindle.com variations.
‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi.
‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.
The relatively new world of ESG indicators displays many similarities with the original markets for ratings and benchmarks, but it also has some distinguishing features. This chapter explores to what extent the regulatory strategies that were developed in ‘traditional’ financial law to support confidence in ratings and benchmarks can be exported to the ‘new’ world of ESG finance, and concludes that policymakers should be cautions when transposing rules. This is especially the case with ESG ratings. In this area, credit ratings are the immediate reference for ESG rating regulation also, because of the common label of ‘rating’, which is rather misleading, and of the anchoring effect this entails. First, the assessments underlying ESG ratings are often more subjective than those supporting traditional indicators, due to their multivariate nature. Second, the risk of regulatory failures connected to the authorisation and registration labels also seems higher in the ‘new’ world of sustainability. The chapter analyses the new ESG Ratings Regulation and the Benchamkr Regulation against this backdrop, and highlights the suboptimality of some policy choices.
Recommend this
Email your librarian or administrator to recommend adding this to your organisation's collection.