EU: ESMA issues statement on publication or distribution of ESG ratings by third parties pending authorisation

ESMA has issued a statement on the publication or distribution of ESG ratings by third parties in the period from 2 July 2026 until authorisation, recognition or registration of ESG rating providers under the ESG Rating Regulation.

The statement clarifies whether third parties that are publishing or distributing ESG ratings of existing, but unauthorised, ESG rating providers will be able to continue doing so from 2 July 2026, when the ESG Ratings Regulation applies. ESMA explains that:

• ESG rating providers other than small ESG rating providers wishing to continue operating in the EU after 2 July 2026 must notify ESMA by 2 August 2026 of their intention to apply for authorisation or recognition, and submit their application for authorisation or recognition by 2 November 2026 at the latest.

• Small ESG rating providers wishing to continue operating in the EU must notify ESMA by 2 November 2026 of their intention to benefit from the temporary regime.

• From 2 July 2026, third parties may continue publishing or distributing the ESG ratings of ESG rating providers until ESMA has adopted a decision to grant or refuse the application for authorisation or recognition, or to register the notifier as a small ESG rating provider. In accordance with Article 14 of the ESG Rating Regulation, ESMA intends to publish and update a list of entities that have notified it of their intention to continue operating in the EU after that date.

After 2 November 2026, third parties should consult the register to determine the ESG rating providers from which it will be possible to continue to publish or distribute ESG ratings.

The statement dated 1 July 2026 is available here.