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ARTICLE · 10 JULY 2023

EU ESG Ratings Regulation Published

William Fry LLP
William Fry LLP
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William Fry LLP

William Fry LLP

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Last month saw the publication of yet another extensive and highly impactful EU package of sustainable finance measures.

European UnionInternational Law
Nessa Joyce
Nessa Joyce
John Aherne
John Aherne
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Last month saw the publication of yet another extensive and highly impactful EU package of sustainable finance measures.

The package includes a proposal for authorising and regulating EU and non-EU providers of ESG ratings in the EU (ESG Ratings Regulation). Under the proposal, ESG ratings providers would have 6 months to apply for authorisation following entry into force of the ESG Ratings Regulation. SME ESG ratings providers would have 24 months to do so. The ESG Ratings Regulation is under consultation until 29 August 2023.

ESG ratings in scope of the ESG Ratings Regulation

ESG ratings that are disclosed publicly or distributed to EU companies or authorities are in scope of the ESG Ratings Regulation. ESG ratings produced on request, provided exclusively to the relevant person and which are not intended for public disclosure or distribution are not in scope. ESG ratings produced for internal purposes are also out of scope as is ESG data which does not

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