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Publications
Research, Analytics and Reports
Latest publications
Publications
September 11, 2026
ESG Book's Sustainability Report: 2025 Highlights and Impact
2025 was a landmark year, marked by commitment to sustainability and significant innovation across our operations.
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Publications
September 2, 2026
European Companies and the Risk of Corruption
Discover how 2,351 European companies address corruption risks through policies, whistleblowing systems and employee training.
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Publications
July 7, 2026
Biodiversity Stress Test: Assessing the Resilience of the CAC 40 to the Ecological Crisis
Discover how biodiversity risks can impact CAC 40 companies, value chains, water stress and credit resilience.
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Publications
July 2, 2026
ESG Performance of European Small & Mid Caps: 2025 Analysis
Discover the ESG performance of more than 2,000 European small & mid caps. Explore 2025 ESG trends and key risk insights.
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Publications
June 18, 2026
SFDR 2.0: key takeaways for asset managers
Download our free analysis to explore the main proposed changes under SFDR 2.0, their implications for asset managers, and the questions worth addressing now.…
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Publications
June 2, 2026
European Companies Facing the Cybersecurity Challenge
Cyber risk is a core business issue, but how mature are companies really when it comes to managing it? Based on EthiFinance data, this report provides a…
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Publications
May 20, 2026
The 6 key pillars of a credible transition plan
What separates a credible transition plan from a well-intentioned narrative? This two-pager gives you a clear answer. It details the 6 key pillars a transition…
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Publications
May 6, 2026
Decoding sectors under global pressure
Macroeconomic uncertainty, geopolitical tensions in the Middle East and accelerating structural transitions are reshaping sector dynamics in 2026.…
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Publications
April 28, 2026
EthiFinance's Second Party Opinion Methodology
What makes a sustainable finance instrument truly credible? At EthiFinance, our Second Party Opinions are built on three rigorous analytical pillars, the…
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Publications
March 17, 2026
How the Iran Conflict Is Reshaping Spain’s Electricity Market
A data‑driven analysis of the geopolitical shock’s impact on wholesale prices, market dynamics, and credit risk across Spain’s power sector. In March 2026, the…
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Publications
March 16, 2026
Climate Transition Second Party Opinion
Our Climate Transition Second Party Opinion (SPO) provides an independent, sector‑aligned assessment of transition‑labelled debt instruments, helping issuers…
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Publications
March 10, 2026
Executive Briefing Financial Institutions
EU Taxonomy Alignment Patterns and Implications for Sustainable & Transition Finance.
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Publications
January 22, 2026
Sustainability at a Crossroads
A 2025 Retrospective with a 2026+ Outlook.
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Publications
January 14, 2026
Credit Outlook 2026 – Resilience of Credit Quality in 2025, Slight Improvement Expected for 2026
EthiFinance publishes its annual study on the evolution of credit quality for companies rated by EthiFinance Ratings, as well as the outlook for 2026. In a…
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Publications
January 12, 2026
Transition Finance: The Emerging Baseline for Bank Disclosure
Banks are scaling up sustainable finance commitments as regulators converge on standardized disclosure for decarbonization.
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Publications
December 9, 2025
Sustainable finance: a better understanding of sustainability risks
This report is the result of a clinical project conducted between September 2024 and June 2025 by three students from the Sciences Po Law School, Erin…
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Publications
November 26, 2025
Inside SFDR 2.0: What the Updated Framework Means for Market Participants
EU updates sustainable finance rules with simplified disclosures and new product categories.
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Publications
November 19, 2025
Panorama Responsible Investment - Private Equity & Private Debt in France" study
EthiFinance presents the fourth edition of its "Panorama IR Private Equity x Dette Privée - France" study, devoted to the maturity of the Responsible…
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Publications
November 3, 2025
Sustainability Report: 2024 Highlights & Impacts
Sustainability Data to Drive Decisions, Not Just Disclosures.
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Publications
September 17, 2025
EBA Pillar 3: A Practical Guide
ESG Book and Asset Impact are proud to partner to provide a joint solution for calculating financed emissions.
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Publications
September 12, 2025
Panorama IR Immobilier 2025: where do French real estate asset managers stand in terms of ESG maturity?
EthiFinance has published the 4th edition of its study on ESG practices in real estate management, based on an analysis of 91 French asset management…
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Publications
June 17, 2025
SME Sustainability Performance: Corporate ESG Results 2024
This comprehensive report analyses the sustainability performance of approximately 1,900 European small and mid-sized enterprises (SMEs), drawing from…
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Publications
June 5, 2025
Banking on Sustainability
The Critical Role of Technology in Closing Data Gaps for Climate and ESG Reporting.
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Publications
May 21, 2025
Renewable Energy IPP: Sector Report and Market Outlook
The importance of (and challenges facing) renewable generation and independent power producers (IPPs) in increasingly green Spanish and French electricity…
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Publications
April 24, 2025
Webinar: How can you quantify and mitigate Nature-related risks to your investments?
Nature-related risks - whether physical, transitional or biodiversity-related - are now a major issue for investors. In this webinar, the EthiFinance teams…
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Publications
March 26, 2025
Study of the governance practices of French unlisted SMEs / SMIs
Responsible governance, a fundamental pillar of Corporate Social Responsibility (CSR), aims to rethink corporate strategy and the associated organization by…
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Publications
March 12, 2025
Real Estate France Spain: Opposing Market Trends
After the contraction of the real estate market in 2023 due to inflation and rising interest rates, the sector started to recover in 2024 thanks to a reduction…
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Publications
March 5, 2025
Hotel Sector Outlook: Tourism Growth in Spain and France
As a European credit rating agency with a strong focus on the Spanish and French markets, EthiFinance Ratings has taken a keen interest in how 2024 proved to…
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Publications
February 19, 2025
GSS Bond Frameworks: Analysis of European Public Issuers
FOUR YEARS OF BOND ISSUANCE IN EUROPE – EXPERT ANALYSES In recent years, the European public sector has played a prominent role in scaling up the Green…
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Publications
February 13, 2025
French Social Housing: Market Update and Sector Outlook
This study provides an analysis of the economic performance of 28 French social housing providers, representing 10% of the national market. Based on…
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Publications
February 13, 2025
ESG Maturity Private Equity: Germany Market Study 2025
With this study, EthiFinance analysed 50 leading PE providers in Germany on their implementation of ESG standards. The European ESG rating agency developed a…
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Publications
February 12, 2025
ESG performance in the pharmaceutical and biotechnology sector in 2024
This report provides a detailed analysis of the sustainability performance of 86 European companies in the Pharmaceutical and Biotechnology sector, based on…
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Publications
February 11, 2025
Macroeconomic trends and risks - January 2025
Our Chief Economist, Antonio Madera, shares his insights in the January 2025 Macro Bulletin, analyzing key economic trends and forecasts for the year ahead. •…
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Publications
February 6, 2025
ESG maturity assessment of the Spanish Private Equity market 2024
Through this study EthiFinance provides an analysis of the ESG maturity of the industry, based on a review of public data from 60 asset managers in Spain. It…
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Publications
February 4, 2025
Pharma Sustainability Performance: ESG Analysis 2024
This report provides a detailed analysis of the sustainability performance of 86 European companies in the Biotechnologies & Pharmaceuticals sector, based on…
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Publications
January 9, 2025
Breaking New Ground
A Retrospective on Sustainability Reporting in 2024.
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Publications
January 2, 2025
IR Panorama - Private Equity & Private Debt" study
EthiFinance presents the third edition of its "Panorama IR Private Equity & Dette Privée - France" study, devoted to the maturity of Responsible Investment…
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Publications
December 18, 2024
Investment in Green Assets Takes Lead in EU Taxonomy Reporting
Insights from ESG Book.
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Publications
December 10, 2024
Nature Stress Testing: Financial Risk and Value at Risk
Environmental change related to human activities has become a major systemic risk that financial institutions must take into account. While climate-related…
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Publications
December 10, 2024
Cashflow Generation Companies: Why It Matters More Than Storytelling
Opinion by Thomas Dilasser, Chief Rating Officer - Corporates & Project Finance at EthiFinance In today’s financial markets, young companies often prioritize…
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Publications
November 14, 2024
Reports Article 29 LEC 2024 - What level of compliance on biodiversity and ESG risk issues?
EthiFinance has published the first edition of its study "Rapports Article 29 LEC 2024 - Quel niveau de conformité sur les enjeux de biodiversité et de risques…
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Publications
October 17, 2024
Analysis of ESG ratings for small and medium-sized companies in Europe
Over the past month, EthiFinance has organized 4 webinars on the ESG performance of small and medium-sized European companies in 2023. The webinars focused on…
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Publications
October 17, 2024
Integration of Sustainability in Small & Mid Caps
Last month, EthiFinance held 4 webinars on the " Sustainability Performance of Small and Medium Sized European Companies ". The objective was to present…
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Publications
October 17, 2024
SME ESG Performance: European Sustainability Trends 2023
Over the past month, EthiFinance has held 4 webinars on the ESG performance of European small- and midsized companies in 2023. The webinars covered our report…
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Publications
September 30, 2024
EthiFinance Small- & Midcap ESG Ratings Analysis - English Edition
Over the past month, EthiFinance has held 4 webinars on the ESG performance of European small- and midsized companies in 2023. The webinars covered our report…
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Publications
July 9, 2024
Corporate Sustainability Performance 2023
Annual EthiFinance Small- & Midcap ESG Ratings Analysis Our report gives deep insight into the sustainability performance of around 2000 European small- and…
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Publications
July 9, 2024
Cybersecurity ESG Ratings: European Survey 2023
European Survey 2023 by EthiFinance Our report provides an overview of how European companies manage the increasing threat of cyber risks. Main take-aways from…
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Publications
March 20, 2024
Filling in the Blanks
Estimating corporate emissions using machine learning.
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Publications
January 15, 2024
Beyond 1.5˚C*
The urgency for climate action.
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Publications
November 23, 2023
How Generative AI Enables Corporate ESG Reporting
ESG Book and C3 AI provide a roundup of key 2023 ESG regulatory announcements worldwide and examples of AI use cases.
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Publications
September 7, 2023
Pull Your Weight
An ESG Performance Score Weighted Strategy Evaluation.
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Publications
July 6, 2023
Are markets ready for ISSB?
Bridging the gap between current sustainability reporting practices and ISSB requirements.
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Publications
June 16, 2023
Scope 3 Is the magic number
Is the magic number.
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Publications
March 22, 2023
The Next Frontier in Sustainability Reporting
Preserving Biodiversity.
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Publications
February 24, 2023
The New Global Baseline?
A Year of ESG Standards in Review.
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Publications
February 1, 2023
Closing the Climate Data Gap
Explaining the ECB’s new climate-related indicators.
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Publications
October 20, 2022
Mind the Carbon Gap
Estimating corporate emissions using machine learning.
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Publications
September 30, 2022
Uncharted waters
The status quo of water-related corporate disclosure.
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Publications
September 7, 2022
One Draft at a Time
Can the ISSB Establish a Global Baseline in Sustainability Reporting?
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Publications
September 6, 2022
Fifty shades of green
SFDR through the lens of ESG Book.
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Publications
August 5, 2022
ESG has the ‘S’ Factor
The Rise of Socially-Driven Design.
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Publications
July 11, 2022
Machine Learning Models Don’t Work
Without Good Design.
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Publications
ESG Maturity Private Equity: Spanish Market Assessment 2024
Through this study EthiFinance provides an analysis of the ESG maturity of the industry, based on a review of public data from 60 asset managers in Spain. It…
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Publications
Credit Rating Outlook 2025
The macroeconomic landscape of 2024 was shaped by the continuation of geopolitical and economic tensions, divergent economic trends, but also the moderation in…
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