Introduction -- The “Mainstreaming” of Responsible Investment -- The Sustainability Rating Industry -- The Credit Rating Industry -- “An Undercurrent of Need” – Understanding the Dynamics of the Responsible Rating Relationship -- Who Will Triumph? -- Conclusion.

On July 14th 2017, the three largest credit rating agencies – Standard & Poor's, Moody's, and Fitch (the so-called ‘Big Three') – all withdrew from the Russian domestic market for National Scale Ratings. This withdrawal came in response to the introduction of new regulations governing the...