French initiative on the relations between companies and non-financial rating agencies

French companies’ CSR policies are evaluated by numerous actors, including non-financial rating agencies. At their request, Medef and Afep, in partnership with Cliff and C3D1, engaged in January 2018 a collective discussion on the relations between companies and non-financial rating agencies.
The diversity of agencies, having each their own evaluation methodology, results in an important workload for companies who are facing numerous requests. The diversity in approaches also leads to different conclusions on a company’s performance, which do not always converge.

Medef and Afep, in partnership with Cliff and C3D, therefore sent a questionnaire to 120 top French listed companies (SBF 120) allowing them to evaluate 8 major non-financial rating agencies.

This document presents a summary of the survey’s results and a set of recommendations aimed at
improving the relations between companies and non-financial rating agencies.