Consultation Paper for Guidelines on Endorsement under Article 11 of the ESG Rating Regulation

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Reasons for Publication

  1. The ESG Rating Regulation[1] entered into force on 3 January 2025 and will apply from 2 July 2026. It is from this date that entities will have one month to notify ESMA of their intention to apply for authorisation, registration or recognition under the Regulation. For those entities that apply for authorisation there is the possibility to also apply to endorse ESG ratings from a legal entity established outside of the European Union. The requirements to endorse are set out in Article 11(1) and 11(2) of the ESG Rating Regulation.
  2. The purpose of these Guidelines is to complement these legal requirements with guidance on the type of documentation that ESMA expects to be provided by applicants as part of their application to endorse, in addition to guidance on the processes that ESMA would expect to be demonstrated after authorisation to endorse has been granted.

Contents

  1. This Consultation Paper is split into two parts; information requirements, and ongoing requirements. For each section respondents are invited to provide their view on the appropriateness of the proposed guidance. 

Next Steps

  1. Following a 4-week period of consultation ESMA will finalise the Guidelines and publish the Final Report on its website. The Guidelines will then be published on ESMA’s website and should be used by applicants to inform their applications for authorisation. 
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