Debt & Fiscal Goverance Program Webinar: "Credit Worthy: ESG Factors and Sovereign Credit Ratings" (Thursday, February 10, 10am EST / 3pm GMT)

Debt & Fiscal Governance Program Webinar

Credit Worthy: “ESG Factors and Sovereign Credit Ratings "

Thursday, February 10, 10am EST / 3pm GMT

 

Guest Speakers

Bryan Gurhy
Senior Financial Sector Specialist
The World Bank

Dieter Wang
Sustainable Finance Specialist
The World Bank

Marie Diron
Managing Director - Sovereign Risk
Moody’s Investors Service

Graham Stock
Partner
Bluebay Asset Management


Moderator
Fergus McCormick
Director of Sovereign Research
Emerging Markets Investors Alliance

 

On February 10, EMIA hosted Bryan Gurhy and Dieter Wang from The World Bank, Marie Diron from Moody’s Investors Service and Graham Stock from Bluebay Asset Management to discuss how sovereign environmental, social, and governance (ESG) factors are manifested in sovereign credit ratings. Many investors believe that improving ESG fundamentals lead to lower sovereign credit risk. However, this view challenges traditional perceptions regarding the key factors that determine sovereign credit risk.

These are the factors that affect debt sustainability. Empirical evidence shows that causation between ESG factors and sovereign credit risk is mixed. Many in the industry expect these two approaches to credit risk to converge. However, this expectation may not be well grounded.

The event was moderated by Fergus McCormick, Director of Sovereign Research at the Emerging Markets Investors Alliance.