ESMA consults on guidelines on endorsement under the ESG Ratings Regulation

The European Securities and Markets Authority (ESMA) has launched a consultation on draft guidelines on endorsement under the Environmental, Social and Governance (ESG) Ratings Regulation (EU) 2024/3005, setting out its proposed approach to the endorsement of non‑EU ESG ratings. The proposed guidelines are intended to complement the statutory endorsement conditions by specifying the information and documentation ESG rating providers are expected to submit when applying to ESMA for endorsement of non‑EU ESG ratings, as well as the ongoing requirements on the processes and controls to be demonstrated on an ongoing basis following authorisation. The deadline for comments is 29 May, after which ESMA will finalise the guidelines and publish a final report. Further information on the outcome of the consultation and the adoption of the guidelines will be communicated before the end of July. The guidelines are expected to apply three months after publication in all EU official languages on ESMA's website, with ESMA taking them into account for supervisory purposes from 2 August.

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