Regulatory Disclosures
Morningstar Sustainalytics is committed to maintaining the highest standards of regulatory compliance by making all the required disclosures in a timely, accurate and transparent manner.
All the documents pertaining to regulatory disclosures are available in this section below.
Code of Ethics
The Code of Ethics reflects Morningstar Sustainalytics’ status as a Morningstar group company, as well as its commitment, both individually and collectively, to responsible and ethical conduct, guiding its day-to-day actions and decisions, and reflecting its pledge to integrity and professionalism.
DownloadMorningstar Sustainalytics’ Business Code of Conduct
The Morningstar Sustainalytics’ Business Code of Conduct reflects Morningstar Sustainalytics’ commitment to responsible business practices, outlining the values and principles that it embraces to guide its business, and capturing the main policy areas it looks to address through its compliance program.
Conflicts of Interest Framework
The Conflicts of Interest Framework provides an overview of Morningstar Sustainalytics’ approach to conflicts of interest arising from its ESG activities, encompassing identification and management measures, as well as safeguards designed to protect the integrity and objectivity of the research.
Pricing Policy
The Pricing Policy outlines Morningstar Sustainalytics’ pricing framework which is tailored for ESG rating products and is applicable to all entities licensing such products. It sets out Morningstar Sustainalytics' commitment to a fair, transparent and non-discriminatory pricing model, in line with all applicable regulatory requirements.
Ownership Structure
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Conflicts of Interest Inventory
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Complaints Handling Framework
The Complaints Handling Framework describes Morningstar Sustainalytics’ process for receiving, assessing, and resolving complaints in a manner that ensures transparency, fairness, objectivity and independence. It also outlines MorningstarSustainalytics’ commitments to comply with applicable laws and regulations and to deal fairly with stakeholders.
Alignment Statement to JFSA Code of Conduct
This Alignment Statement to JFSA Code of Conduct reflects Morningstar Sustainalytics’ support of transparency, quality, resources, management of conflicts of interest, confidentiality and engagement with research targets in its ESG Risk Rating offerings, reflecting the JFSA Code of Conduct principles.
Statement of Application to the ICMA Code of Conduct
The Statement of Application reflects Morningstar Sustainalytics’ support of good governance, quality, management of conflicts of interest, transparency, confidentiality, and engagement with research targets in connection with its ESG Risk Rating offerings, reflecting the ICMA Code of Conduct for ESG Ratings and Data Products Providers principles.
Sustainability Statement
According to the provisions of OMFP no. 1802/2014, Sustainalytics SRL has the legal obligation to provide non-financial information on environmental, social and personnel aspects, respect for human rights, anti-corruption and bribery, such information being presented in this report, both in English and Romanian.
Methodology Disclosures
Morningstar Sustainalytics aims to ensure transparency in our ratings. We are therefore providing access to documentation on the methodologies behind our rating products.
ESG Methodologies
Morningstar Sustainalytics’ ESG methodologies are designed to be rigorous, systematic, independent, capable of justification and with focus on ensuring that the methodologies can be applied continuously and in a transparent manner.
We aim to write methodologies in a clear, understandable, and logical fashion, using consistent language (as far as reasonably practicable), and a minimum of industry jargon and acronyms. The ultimate objective is to ensure that methodologies are accessible and understandable to those who rely on them.
ESG Risk Ratings
Controversy Ratings
Global Standards Screening
Country Risk Ratings
Low Carbon Transition Rating
Carbon Risk Rating
Ratings Process Overview
This section provides access to all Morningstar Sustainalytics current and historical versions of our policies across three key areas: Methodology Development, ESG Ratings, and Data Management.
ESG Methodology Development & Modification Global Policy
The ESG Methodology Development and Modification Global Policy describes the key principles for the development and modification of Morningstar Sustainalytics methodologies.
The underlying rigorous and thorough policies and processes we have in place reflect our long-standing dedication to transparent governance of our methodologies and implementing best practices.
The ultimate objective is to ensure that methodologies are accessible and understandable to those who rely on them.
Data Management Policy
This Data Management Policy describes how Morningstar Sustainalytics collects, validates, governs, and distributes ESG reported data. It sets out the principles, roles, and quality controls designed to ensure data accuracy, transparency, and integrity across the data lifecycle. The policy supports consistent and responsible data management practices aligned with regulatory and governance expectations.
ESG Ratings Policy
The ESG Ratings – Global Policy sets out the principles for the issuance, publication, and distribution of Morningstar Sustainalytics’ ESG Ratings in accordance with applicable regulations, policies, and procedures. This document outlines the types of ESG Ratings, governance, and transparency standards that ensure the independence and accuracy of ESG Ratings for all covered personnel.
Ratings Disclosures
Find Disclosure Reports for companies or countries for our Morningstar Sustainalytics ratings: ESG Risk Rating, Controversies Research, Global Standards Screening, Country Risk Rating and more.