'There is no one size fits all': Industry clamours for clarity ahead of Reeves' ESG rating agencies bill

Bill due in 2025

Pressure has begun to mount on chancellor Rachel Reeves from the sustainable investment industry ahead of the introduction of secondary legislation to regulate ESG rating agencies next year.

Earlier this month (8 August), Reeves asked her office to "respond quickly to an industry consultation on a new regulatory regime for ESG rating providers and bring forward legislation next year", a Treasury spokesperson said.  Since taking charge of Britain's purse strings, Reeves has expressed a desire to "drive more investment and cement the UK as a world leader in sustainable finance", the Treasury said, with the lack of transparency behind ESG ratings top of the chancellor's list of priorities.  The case for clarity  "The aim of increasing transparency is something that I can f...