Sustainability rating agencies and their contribution to sustainable development: New challenges in the face of global risks

This research explores the role of sustainability rating agencies in driving sustainable development. More specifically, this research analyzes the main challenges facing sustainability rating agencies in the current context of global risks and how are facing such risks. To that end, a desk study is carried out that shows that the market for the evaluation of corporate sustainability is undergoing significant changes with the inclusion in the market of the traditional credit rating agencies and the new regulations that foster the integration of environmental, social and governance risks into corporate sustainability assessment systems. However, there is still ample scope for its role to be much more transformative.  Therefore, it is necessary to define more specific methodologies that allow the assessment of sustainability risks along supply chains, considering their global nature, as well as assessing both the positive and negative impact on the Sustainable Development Goals of the organizations that are under the scrutiny of these agencies.