meta_id 3288215

On July 2, 2026, the European Securities and Markets Authority (ESMA) issued a public statement addressing the publication and distribution of environmental, social and governance (ESG) ratings by third parties during the transitional period preceding formal authorisation under the ESG Ratings Regulation. The statement provides guidance to market participants on permissible activities for ESG rating providers operating in the European Union during the interim period from July 2, 2026, until such providers obtain authorisation or recognition. ESMA clarifies the regulatory framework governing ESG ratings distribution and establishes expectations for third-party rating providers during this transitional phase. The statement addresses compliance obligations and operational requirements for entities engaged in publishing or distributing ESG ratings to market participants and investors across the EU. This guidance is significant for ESG rating providers, asset managers, financial institutions, and other market participants that rely on or distribute ESG ratings. The statement ensures regulatory clarity during the implementation period of the ESG Ratings Regulation, reducing uncertainty for industry participants regarding permissible conduct and compliance expectations. By establishing clear parameters for ESG ratings distribution prior to the formal authorisation regime, ESMA aims to maintain market integrity and investor protection while facilitating an orderly transition to the new regulatory framework. Market participants should review the statement to ensure their ESG rating activities comply with ESMA's guidance during the specified transitional period. The statement remains in effect until ESG rating providers obtain formal authorisation or recognition under the applicable regulatory regime. **Reference:** ESMA84-1427279869-1396