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Global Issuer Engagement on MSCI ESG Ratings Continued to Rise

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Global Issuer Engagement on MSCI ESG Ratings Continued to Rise

 

Emma Wu and Feifan Huang
April 11, 2024

Amid escalating demand from capital-market participants, regulators and other stakeholders, we have witnessed a marked increase in corporate issuers’ interactions with MSCI ESG Research. Nine years of data (2015-2023) show a notable and ongoing trend: Issuers across all market-capitalization ranges, regions, countries and sectors are making more inquiries, giving more feedback and providing more updates to their sustainability, governance and climate data.

Rise in emerging-market and climate-related interactions

In 2023, 45% of issuers that were constituents of the MSCI ACWI Investable Market Index (IMI) proactively contacted MSCI ESG Research with inquiries, up from 7% in 2015. While emerging-market issuers still lag their developed-market peers, 34% of issuers in the MSCI Emerging Markets IMI interacted with us in 2023, up from just 4% in 2015.

Climate-related data points received the most issuer feedback in 2023, covering around 31,200 climate data points — 3.2 times more than in 2021. Overall, this rise in feedback across both sustainability and climate topics might be pointing to greater pressure from investors and regulators as well as companies’ inherent interest in these issues.

Issuers across sectors held steady or increased their data-verification rates

At a Global Industry Classification Sector (GICS®)1 level, the top three most active sectors in 2023 in terms of data-verification rates were financials, utilities and communication services. The utilities sector saw the biggest jump, up to around 32% of issuers sharing data feedback — up from 17% in 2022.

Issuer-interaction rate in the MSCI ACWI IMI universe

Issuer-interaction rate in the MSCI ACWI IMI universe
MSCI ACWI IMI (n=8,977); MSCI Emerging Markets IMI (n=3,351); MSCI World IMI (n=5,626). World specifically refers to developed markets, instead of a global market. Data as of Dec. 31, 2023. Source: MSCI ESG Research

Number of data points submitted by issuers across 10 themes

Number of data points submitted by issuers across 10 themes
Each year reflects data points submitted from Jan. 1 to Dec. 31. Source: MSCI ESG Research

Data-verification rate by sectors

 
How to use this chart: Filter issuer engagement data by clicking on a particular sector icon and hover over the bars and dots to learn more about issuer trends. Data verification is the % of corporate issuers in the MSCI ESG Ratings industry universe that submitted voluntary data feedback through our online issuer portal during that year. Source: MSCI ESG Research


1 GICS is the global industry classification standard jointly developed by MSCI and S&P Global Market Intelligence.

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