Sustainable Finance Ratings as the Latest Symptom of “Rating Addiction”

Research output: Contribution to journalArticlepeer-review


Using the widely accepted but rarely articulated concept of ‘rating addiction’, this piece aims to examine the recent entrance of the credit rating agencies into the sustainable finance field against the backdrop of ‘rating addiction’. Once the concept of ‘rating addiction’ is positioned, the effects of the addiction can be witnessed by even just a cursory glance at the history of the credit rating agencies, particularly their recent history. On that basis, this article provides a warning for regulators and the field with regards to the potentially negative effect that credit rating agencies can have upon the ever-growing and socially-important sustainable finance sector. Additionally, assessing the aptitude of the agencies in this sector, in comparison to the sector’s utilisation of their products, may provide further evidence of a system addicted to ratings.
Original languageEnglish
Pages (from-to)242-258
JournalJournal of Sustainable Finance & Investment
Issue number3
Early online date8 Feb 2018
Publication statusPublished - 8 Feb 2018

Bibliographical note

© 2018 Informa UK Limited, publishing as Taylor & Francis. This is an Accepted Manuscript of an article published by Taylor & Francis, available online:


  • ESG, financial intermediation, financial regulation, sustainable finance, ratings agencies


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