Credit Ratings Initiative

The ESG in credit ratings initiative aims to enhance the transparent and systematic integration of ESG factors in credit risk analysis. The PRI is facilitating a dialogue between credit rating agencies (CRAs) and investors to cultivate a common language, discuss ESG risks to creditworthiness and bridge investor-CRA disconnects.

The initiative kicked off with the launch of the Statement on ESG in credit ratings, still open to sign and so far supported by over 130 investors with over $25trn of AUM and 15 CRAs. There are three reports planned as part of the initiative and roundtables that the PRI is organising around the world for credit practitioners.

See below the work we have done so far, and contact us if you have any questions.

Statement on ESG in credit ratings

By signing the ESG in Credit Ratings Statement, credit rating agencies and fixed income investors commit to incorporating ESG into credit ratings and analysis in a systematic and transparent way. To date, the statement is supported by more than 130 investors (with over US$25trn in collective AUM) and 15 credit ...

ESG in credit risk and ratings: San Francisco panel


The PRI, BlueBay Asset Management and S&P Global Ratings discuss the main obstacles to integrating ESG factors in credit risk analysis.

Ratings forums

To address some of the disconnects between investors and CRAs that have emerged so far, the PRI is organising roundtables across the globe aimed at credit risk analysts, fixed income portfolio managers and strategists (ESG analysts are welcome if accompanying their colleagues). CRA representatives will participate to explain how they incorporate ESG factors in their credit ratings and answer any questions attendees may have. The season kicked off with a panel session at PRI in Person in Berlin focused on ESG in sovereign credit risk, with speakers from Beyond Ratings, Global Evolution, the French Treasury and Moody's Investors Service.

  • The Hague (hosted by Aegon Asset Management)
  • Toronto (hosted by University of Toronto Asset Management)
  • Montreal (hosted by PSP Investments)
  • New York (hosted by Neuberger Berman)
  • London (hosted by Insight Investment)
  • Stockholm (hosted by Öhman)
  • Paris (hosted by AXA)
  • Frankfurt (hosted by Deutsche Börse)
  • San Francisco (panel session hosted by Wells Fargo Asset Management)
  • Sydney, 26 February 2018 (hosted by the Financial Services Council)

  • Upcoming:

  • Asian forums, summer 2018

The ESG in Credit Ratings Initiative receives financial support from The Rockefeller Foundation.

The Rockefeller Foundation logo