On 6 November 2024, the Council of the EU published the text of the proposed Regulation on the transparency and integrity of environmental, social and governance (ESG) rating activities, and amending Regulations (EU) 2019/2088 and (EU) 2023/2859. The draft Regulation is designed to govern the issuance, distribution and, where relevant, publication of ESG ratings, without being intended to regulate their use. The Council is to formally adopt the draft Regulation, which will then enter into force 20 days after its publication in the Official Journal of the EU. It will apply 18 months following its entry into force.