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The UK government is set to propose a law in 2025 aimed at regulating providers of Environmental, Social, and Governance (ESG) ratings, a move that could reshape the landscape of sustainable finance. This initiative, led by Finance Minister Rachel Reeves, seeks to address the growing concerns over the transparency and reliability of ESG ratings, which play a crucial role in directing billions of dollars into sustainability-focused investments. “Rachel Reeves has asked the Treasury to respond quickly to an industry consultation on a new regulatory regime for ESG rating providers and bring forward legislation next year,” stated the UK finance ministry. The proposed regulation aims to align with the recommendations from the International Organisation for Securities Commissions (IOSCO), ensuring that ESG ratings providers are transparent about their methodologies and potential conflicts of interest.
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