Correlation matrix of ESG ratings across agencies
| Bloomberg | Wind | Huazheng | FTSE Russell | Shangdao Ronglü | Menglang | |
|---|---|---|---|---|---|---|
| Bloomberg | 1 | |||||
| Wind | 0.416*** | 1 | ||||
| Huazheng | 0.268*** | 0.322*** | 1 | |||
| FTSE Russell | 0.545*** | 0.420*** | 0.309*** | 1 | ||
| Shangdao Ronglü | 0.545*** | 0.467*** | 0.351*** | 0.575*** | 1 | |
| Menglang | 0.588*** | 0.528*** | 0.486*** | 0.504*** | 0.575*** | 1 |
| Bloomberg | Wind | Huazheng | FTSE Russell | Shangdao Ronglü | Menglang | |
|---|---|---|---|---|---|---|
| Bloomberg | 1 | |||||
| Wind | 0.416*** | 1 | ||||
| Huazheng | 0.268*** | 0.322*** | 1 | |||
| FTSE Russell | 0.545*** | 0.420*** | 0.309*** | 1 | ||
| Shangdao Ronglü | 0.545*** | 0.467*** | 0.351*** | 0.575*** | 1 | |
| Menglang | 0.588*** | 0.528*** | 0.486*** | 0.504*** | 0.575*** | 1 |
Note(s): *p < 0.1, **p < 0.05, ***p < 0.01
Source(s): Table by authors
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