A rating agency accepted a preliminary injunction regarding a disputed corporate sustainability rating.
As reported by a number of German newspapers and the environmental press, a dispute between the US proxy advisory firm Institutional Shareholder Services (ISS) and the German industrial image processing company Isra Vision came to a rapid conclusion before the Regional Court of Munich when ISS withdrew its objection against a preliminary injunction. As a result, the relevant ESG rating concerning Isra Vision was not published.
ISS provides ratings and analytical services in respect of environmental, social, and governance (ESG) matters. ISS made a request to Isra Vision to participate in a sustainability review. After Isra Vision did not respond, ISS made its assessment on publicly available material. According to publicly available information, Isra Vision was given the worst rating (D-) in the assessment. As such, Isra Vision sought an injunction against the issuing of the rating. Continue Reading