“It makes a lot of sense to put more pressure on the quality of these ratings, on the transparency of the ratings,” Wild said in an interview. “At least you want to know why a rating ended up where it did, and what their underlying assumptions were.”
Credit Suisse Group AG’s sustainability chief added his voice to a growing chorus of industry professionals calling for the regulation of ESG ratings.
Daniel Wild, global head of ESG strategy at the Zurich-based bank, says there’s currently inadequate oversight of the firms that grade businesses on their environmental, social and governance metrics. Neither the data the ratings firms use nor the approaches they take are clear, he said.
