As the demand for greater ESG transparency grows, companies are faced with the challenge of understanding why they are given the ratings that they receive. ESG rating agencies such as MSCI, S&P Global, Sustainalytics, Refinitiv, and Bloomberg, among others, are becoming increasingly influential, as asset managers rely upon them to understand how companies approach key sustainability issues. Investors, customers, and other stakeholders also consider these ratings when interacting with companies.