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How do we incorporate ESG into our credit ratings?

We incorporate ESG factors into our credit ratings when we believe they are material to creditworthiness and sufficiently visible. The spectrum of risks now commonly referred to as "ESG" have long been a part of our credit rating analyses using our sector-specific criteria.

View S&P Global Ratings Update on ESG Credit Indicators >

Environmental, Social, And Governance Principles In Credit Ratings

Here we articulate the principles that S&P Global Ratings applies to incorporate environmental, social, and governance (ESG) credit factors into our credit ratings analysis. Within the criteria we define ESG credit factors as those ESG factors that can materially influence the creditworthiness of a rated entity or issue and for which we have sufficient visibility and certainty to include in our credit rating analysis.

Read our criteria

ESG Credit Factors: A Deeper Dive

Here we provide descriptions of key environmental, social, and governance (ESG) factors that have affected creditworthiness or may influence future creditworthiness.

Take a closer look

Climate Finance In Lower-Income Countries

Low- and lower-middle-income countries are most vulnerable and least ready to adapt to climate change—yet receive the least amount of investment to transition their economies and build resilience to physical climate risks.