The European Securities and Markets Authority, ESMA, has initiated a public consultation regarding draft guidelines for the endorsement of non-EU ESG ratings. This consultation is a crucial step in implementing the ESG Ratings Regulation. The proposed guidelines aim to ensure a consistent application of the endorsement regime within the EU. Specifically, they will offer guidance on the necessary information for ESG rating providers seeking to endorse ratings from outside the Union. ESMA is actively seeking feedback from ESG rating providers and other stakeholders on these draft guidelines. The objective is to ensure the guidance is clear, proportionate, and practical, aligning with the overarching goals of the ESG Ratings Regulation. This regulation itself establishes a framework for ESG ratings providers operating in the European Union. It incorporates provisions for EU-based rating providers to endorse ratings originating from outside the Union, promoting market integrity and investor protection. ESMA is accepting comments on the consultation paper until May 29, 2026. The authority will carefully review all submitted feedback before finalizing the guidelines. ESMA expects to communicate the outcome of this consultation and the adoption of the final guidelines before the end of July 2026.