ESG Rating Providers
Environmental, Social and Governance [ESG] Rating providers offer activities including the issuance, and the publication or distribution of ESG ratings on a professional basis. ESMA will be the direct supervisor of ESG Rating providers offering their services within the EU, under Regulation (EU) 2024/3005 (‘ESG Rating Regulation’).
ESG Rating Providers
In November 2024, the Regulation on the transparency and integrity of Environmental, Social and Governance (ESG) rating activities (‘ESG Rating Regulation’) was published in the Official Journal of the European Union. The date of application for the ESG Rating Regulation is 2 July 2026. This is the date from which ESG Rating Providers will need to consider notifying ESMA about their intention to continue operating in the Union. Following these notifications ESG Rating Providers should then submit an Authorisation application.
The timelines for these different actions are set out in the graphic at the bottom of this page.
Article 4 of the ESG Rating Regulation requires ESG rating providers to register with ESMA in order to provide services defined as ESG ratings in the EU in accordance with Article 3(1).
ESMA is responsible for the registration and supervision of ESG rating providers. ESG rating providers will have to notify ESMA of their intention to continue offering ESG rating services in the European Union, and thus apply for registration, starting from 2 August 2026 and latest by 2 November 2026.
Requirements to operate in the Union
By 2 August 2026 ESG rating providers which operated in the Union at the date of entry into force of the Regulation shall notify ESMA if they wish to continue operating in the Union and apply for authorisation or recognition.
- In that case, they shall apply for authorisation or recognition within four months of 2 July 2026.
- After notifying ESMA, the ESG rating provider shall be temporarily listed in the register referred to in Article 14 and be permitted, until its application has been approved or denied, to continue operating in the Union, and may endorse an ESG rating provided by an ESG rating provider established outside the Union and belonging to the same group under Article 11.
- ESG rating providers categorised as small ESG rating providers, within the meaning of Article 5(1), which operated in the Union at the date of entry into force of this Regulation shall notify ESMA in accordance with Article 5 no later than 2 November 2026 if they wish to continue operating in the Union.
Application for authorisation to operate in the Union
ESMA will provide further information in due course. For further information on the information to be provided, please refer to the Consultation Paper on Technical Standards under the ESG Rating Regulation.
Temporary regime for small ESG rating providers established in the EU wishing to provide ESG rating activities in the EU
This website will be updated with additional information as soon as practically possible.
Should you have any questions on the authorisation process and ESMA expectations for firms wishing to become authorised with ESMA to provide ESG rating activities within the EU, please contact ESGR_queries@esma.europa.eu
