FT News Briefing

Rating the ESG raters

Oct 3, 2023

The podcast delves into Kristalina Georgieva's support for IMF reforms that could elevate China's influence. It highlights regulatory calls for transparency among ESG rating agencies, addressing the limitations in their scoring systems. Meanwhile, the booming Oktoberfest emerges as a surprising bright spot in Germany's economy, juxtaposing the broader economic challenges. Additionally, it touches on the EU's strategic funding moves for Ukraine, reflecting complex political dynamics.

08:53

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Quick takeaways

The EU Commission is seeking Hungary's cooperation in providing aid to Ukraine, as the US Congress withdrew its aid package, highlighting the tensions and challenges surrounding the situation.

ESG rating agencies face criticism for lack of transparency in their current ratings, which do not adequately measure corporate performance on carbon emissions or handle conflicts of interest, leading to regulatory efforts in Europe and India to address these concerns.

Deep dives

Brussels seeks Hungary's support in aiding Ukraine

The EU Commission wants Hungary's cooperation in passing a budget that includes significant aid for Ukraine. This comes after the US Congress stripped an aid package for Ukraine. The country's Prime Minister, Viktor Orbán, has been hesitant to send military aid to Ukraine, and the EU froze funds for Hungary due to human rights concerns.

Intro

3min

Analyzing the Challenges and Regulation of ESG Ratings

4min

Global Economic Shifts and Consumer Confidence Amidst Challenges

4min

Kristalina Georgieva backs reforms to the IMF that could eventually give more power to China, regulators are calling for more transparency for ESG rating agencies, and record numbers at this year’s Oktoberfest are a bright spot for the German economy.

Mentioned in this podcast:

AN ESG DATA

Germans shrug off economic gloom at booming Oktoberfest

Brussels to unfreeze Hungary funds as it seeks help for Ukraine

IMF head backs reforms that could give China more voting power

CLIPS: The Independent

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Monique Mulima, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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