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On April 29, 2026, the European Securities and Markets Authority (ESMA) launched a consultation on proposed guidelines for the endorsement of environmental, social and governance (ESG) ratings under Article 11 of the ESG Rating Regulation (ESG Rating Regulation). The consultation period runs until May 29, 2026. The ESG Rating Regulation entered into force on January 3, 2025, and will apply from July 2, 2026. From that date, entities will have one month to notify ESMA of their intention to apply for authorisation, registration or recognition under the Regulation. Entities applying for authorisation may also apply to endorse ESG ratings issued by legal entities established outside the European Union. The guidelines aim to complement the legal requirements set out in Article 11(1) and 11(2) of the ESG Rating Regulation by providing guidance on the documentation ESMA expects applicants to submit as part of their endorsement application, and on the processes applicants must demonstrate following authorisation to endorse. The consultation paper is structured in two parts: information requirements and ongoing requirements. ESMA invites respondents to provide views on the appropriateness of the proposed guidance for each section. The guidelines will apply to credit rating agencies and other entities seeking to endorse ESG ratings from non-European Union-established entities. Following the four-week consultation period, ESMA will finalise the guidelines and publish a Final Report on its website. The finalised guidelines will then be published and should be used by applicants to inform their applications for authorisation under the ESG Rating Regulation. Responses to the consultation will be published unless respondents request confidentiality. REFERENCES: European Securities and Markets Authority. (2026). Consultation Paper for Guidelines on Endorsement under Article 11 of the ESG Rating Regulation. Available at: https://www.esma.europa.eu/