ESG rating transparency requires public disclosure of methodologies, scores, conflicts of interest and independence safeguards for rating providers.

ESG rating providers must publicly disclose ESG ratings, rating type, component scores, detailed methodologies with category-wise weightages, methodological changes and archives on a website in machine-readable format; publish average one-year rating transition rates; state registration category and applicable regulator; disclose compensation arrangements and whether ratings were solicited; and adopt policies, reporting structures and codes of conduct to identify, disclose and mitigate conflicts of interest, avoid business relationships that could affect ratings, and refrain from providing ESG consulting or advisory services related to ratings.

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