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Sustainable finance ratings as the latest symptom of ‘rating addiction’

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  • Daniel Cash

Abstract

Using the widely accepted but rarely articulated concept of ‘rating addiction’, this piece aims to examine the recent and concerted entrance of the credit rating agencies into the sustainable finance field against the backdrop of ‘rating addiction’. Once the concept of ‘rating addiction’ is positioned, the effects of the addiction can be clearly witnessed by even just a cursory glance at the history of the credit rating agencies, particularly their recent history. On that basis, this article provides a warning for regulators and the field with regards to the potentially negative effect that credit rating agencies can have upon the ever-growing and socially-important sustainable finance sector. Additionally, assessing the aptitude of the agencies in this sector, in comparison to the sector's utilisation of their products, may provide further evidence of a system addicted to ratings.

Suggested Citation

  • Daniel Cash, 2018. "Sustainable finance ratings as the latest symptom of ‘rating addiction’," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 8(3), pages 242-258, July.
    • Handle: RePEc:taf:jsustf:v:8:y:2018:i:3:p:242-258
    DOI: 10.1080/20430795.2018.1437996
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    Cited by:

    1. Hilbrich, Sören, 2021. "What is social finance? Definitions by market participants, the EU taxonomy for sustainable activities, and implications for development policy," IDOS Discussion Papers 29/2021, German Institute of Development and Sustainability (IDOS).
    2. Amalia Rodrigo-González & Alfredo Grau-Grau & Inmaculada Bel-Oms, 2021. "Circular Economy and Value Creation: Sustainable Finance with a Real Options Approach," Sustainability, MDPI, vol. 13(14), pages 1-30, July.
    3. Quatrini, Simone, 2021. "Challenges and opportunities to scale up sustainable finance after the COVID-19 crisis: Lessons and promising innovations from science and practice," Ecosystem Services, Elsevier, vol. 48(C).
    4. DiMaria, charles-henri, 2024. "ESG principles: the limits to green benchmarking," MPRA Paper 120410, University Library of Munich, Germany, revised 2024.

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