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Scope Group

With approx.

Lobbying Activity

Meeting with Sven Gentner (Head of Unit Financial Stability, Financial Services and Capital Markets Union)

2 Sept 2025 · Credit ratings in private markets

Response to Evaluation of the Public Procurement Directives

7 Mar 2025

We welcome the European Commissions initiative to review the public procurement directives as we see it as an important lever to strengthen European competitiveness and boost economic resilience in strategic sectors. In our area of activity (i. e. the strategic sector of credit ratings) European market participants strongly depend on a very small number of North American providers controlling a dominant 90% market share. The excessive reliance on North American credit rating agencies (CRAs) hinders the development of a domestic supply chain a situation that presents a considerable risk and a long-term strategic weakness for Europes financial market infrastructure. Credit ratings are an integral component of functioning financial markets. Their strategic relevance lies in their ability to enhance market transparency by reducing information asymmetry between debt issuers and investors enabling an adequate financing of the real economy. The strategic component of credit ratings should be reflected in public procurement rules ensuring that domestic rating service providers are treated equally or preferentially when awarding a public contract. This would only be consequential following the Commission Presidents announcement in the Political Guidelines for the next European Commission 2024-2029, that a revision of the public procurement directives will enable preference to be given to European products in public procurement for certain strategic sectors. On its path of establishing the largest European rating agency, Scope has experienced serious obstacles in public procurement with regard to rating services. These relate, for example, to the absence of tendering processes for operators in the credit rating sector and default contract awards to the predominant North American CRAs. Concrete examples include: - The absence of defined eligibility processes at several large public European development banks to onboard a European credit rating provider in their internal risk and portfolio management; - Procurement criteria by public institutions seeking credit ratings for their debt issuance (sub-sovereign debt issuers such as regions or cities) that frequently overweight service providers historical track records and coverage as opposed to the current quality and demonstrated robustness of their ratings (which proves the ability to deliver adequate rating services in the future). The structural disadvantages in public finance tendering processes related to the overwhelming market power of the large CRAs persist despite Scopes public market recognition: Scope is the only European agency mandated for a rating by the European Commission and accepted by the European Central Bank in its European Collateral Assessment Framework . In this context we would like to highlight that among the original objectives of the EUs public procurement rules are facilitating in particular the participation of small and medium-sized enterprises (SMEs) in public procurement, and to enable procurers to make better use of public procurement in support of common societal goals (Directive 2014/24/EU) . In light of the Commissions strategic objectives to strengthen European autonomy and economic resilience, we therefore recommend improvements in existing public procurement regulations and the creation of mechanisms that promote the awarding of public contracts to European suppliers in sectors of strategic economic importance which are heavily dependent on foreign providers.
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Meeting with Johannes Hahn (Commissioner)

10 Sept 2024 · Bilateral meeting with CEO of Scope, Mr Schoeller. Topics discussed: index providers in and outside Europe and the role of Scope.

Response to Environmental, social and governance (ESG) ratings and sustainability risks in credit ratings

1 Sept 2023

Scope Group welcomes the European Commissions initiative to regulate the ESG rating market and improve transparency. We believe that this will help establish credibility to investing aligned with ESG goals and contribute to tackling greenwashing practices. The Commissions proposal will go a long way toward enforcing high-quality standards and improving the usability of ESG ratings. However, we would like to draw the attention to some specific aspects that should be further considered in the upcoming regulation. Please find attached hereto our detailed feedback.
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Meeting with Jonás Fernández (Member of the European Parliament, Rapporteur)

14 Dec 2021 · EU Banking Package 2021

Meeting with Johannes Hahn (Commissioner) and

29 Jun 2021 · - NGEU funding strategy/EU borrowing activities in general - Rules of appointment of European credit rating agency (according to Financial Regulation)

Meeting with Kerstin Jorna (Director-General Internal Market, Industry, Entrepreneurship and SMEs)

14 Jan 2021 · Share the experience with the current venture finance situation and what is envisioned by the EU Commission