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ABSTRACT
Using the widely accepted but rarely articulated concept of ‘rating addiction’, this piece aims to examine the recent and concerted entrance of the credit rating agencies into the sustainable finance field against the backdrop of ‘rating addiction’. Once the concept of ‘rating addiction’ is positioned, the effects of the addiction can be clearly witnessed by even just a cursory glance at the history of the credit rating agencies, particularly their recent history. On that basis, this article provides a warning for regulators and the field with regards to the potentially negative effect that credit rating agencies can have upon the ever-growing and socially-important sustainable finance sector. Additionally, assessing the aptitude of the agencies in this sector, in comparison to the sector's utilisation of their products, may provide further evidence of a system addicted to ratings.
Disclosure statement
No potential conflict of interest was reported by the author.