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This Palgrave Pivot aims to examine the bourgeoning relationship between the Principles for Responsible Investment and the Credit Rating Industry. Since May of 2016, when the partnership was initially publicised, the PRI have endeavoured to incorporate Credit Rating Agencies into its initiative via its âESG in Credit Ratings Initiativeâ, and have been working diligently to find, and create common ground between Credit Rating Agencies and Institutional Investors seeking to be more forward-looking in their investment approaches. However, in recent years the âBig Twoâ Credit Rating Agencies â Standard \u0026 Poorâs and Moodyâs â have finally received record fines for their conduct in the run-up to the Financial Crisis. There is a need, then, to examine the incorporation of the Credit Rating Agencies into such a progressive initiative. To achieve this objective, this book examines the field of âresponsible investingâ, the credit rating industry, and the power dynamic that exists betweenthe rating industry, investors, and the PRI (via its âInitiativeâ). |
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