A new sustainability ratings agency has launched across Europe with the merger of two big players, in what’s seen as confirmation of the link between the ESG and finance.
EthiFinance and ESG Book are joining forces to create one of the EU’s largest independent credit and sustainability ratings agencies.
The deal brings together sustainability ratings, credit ratings, data and analytics under the EthiFinance brand, creating a European provider with more than 300 experts and coverage of at least 10,000 companies worldwide.
For some datasets, that coverage extends to 76,000 businesses, with the combined group serving more than 500 clients across Europe, the US, India and Japan.
The transaction comes just days after new European Securities and Markets Authority regulations for sustainability ratings came into force, tightening oversight of a market that has grown rapidly but remains highly fragmented.
The global sustainability ratings, data and analytics sector is estimated to be worth up to $10 billion (£7.9 billion).
The two companies say the combination will give banks, investors and corporate issuers access to a wider range of services covering ESG and credit ratings, sustainability data, portfolio analysis, regulatory reporting, benchmarking and supply chain risk.
It will also create a larger European competitor to the US groups that dominate much of the ratings and financial data market.
EthiFinance was founded in Paris in 2004 and specialises in credit and sustainability analysis, with a particular focus on European small and medium-sized businesses and private markets.
ESG Book, launched in Frankfurt in 2018, provides sustainability data, scores and technology to financial institutions, including tools used to manage regulatory requirements and assess climate and ESG risks.
The companies argue demand for credible and auditable sustainability information remains strong despite political pressure and regulatory uncertainty around ESG.
The new organisation will look to connect traditional credit analysis more closely with environmental and social risks, particularly in private markets where consistent sustainability data can be harder to find.
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