This Palgrave Pivot aims to examine the bourgeoning relationship between
the Principles for Responsible Investment and the Credit Rating
Industry. Since May of 2016, when the partnership was initially
publicised, the PRI have endeavoured to incorporate Credit Rating
Agencies into its initiative via its 'ESG in Credit Ratings Initiative',
and have been working diligently to find, and create common ground
between Credit Rating Agencies and Institutional Investors seeking to be
more forward-looking in their investment approaches. However, in recent
years the 'Big Two' Credit Rating Agencies - Standard & Poor's and
Moody's - have finally received record fines for their conduct in the
run-up to the Financial Crisis. There is a need, then, to examine the
incorporation of the Credit Rating Agencies into such a progressive
initiative. To achieve this objective, this book examines the field of
'responsible investing', the credit rating industry, and the power
dynamic that exists between the rating industry, investors, and the PRI
(via its 'Initiative').