Jefferies skewers bank ESG ratings for ignoring climate

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By Jon Hay
15 Apr 2021

Several European banks’ noses were put out of joint this week by research from Jefferies, which suggested a very different ranking of banks’ ESG characteristics from that investors usually get from rating providers. The study argued commercial ESG ratings on banks are not fit for purpose.

The European banks equity research team at Jefferies in London — which does not include ESG specialists — has produced its own ESG ratings of the 24 banks it covers, which it argues are likely to be better guides to banks’ share price performance than their commercial ratings, ...

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