Response to Commission consultation on the functioning of the ESG ratings market

FESE welcomes the opportunity to provide its insights on the ESG ratings market through the Commission's targeted consultation on their functioning in the EU. As benchmark administrators and companies subject to ESG ratings, FESE Members shared their knowledge of the dynamics in the market and the existing challenges. While we believe that regulatory intervention at EU level is not necessary, if this would be deemed merited, a principles-based approach should be followed.