By launching strategic cooperation with S&P Global, we are bringing one of the most recognized global ESG standards to Central and Eastern Europe. We are giving companies in the region access to a tool that has long set the direction for international sustainability benchmarking. To show how CSA works in practice and what it can bring to companies, we have prepared this expert overview, which explains the principles of assessment, its benefits, and the reasons why companies in CEE should start taking an interest in it right now.
Understanding the CSA Rating
The S&P Corporate Sustainability Assessment functions as a sustainability scorecard across E, S and G topics - from climate strategy and human rights to supply chain transparency and innovation. Companies receive a quantitative score (0–100) and percentile rankings within industry groups, which are used for benchmarking and to identify sustainability leaders.
Credit Ratings vs. ESG Ratings
It’s important not to confuse credit ratings with ESG ratings:
- Credit ratings (S&P Global Ratings, Moody’s, Fitch) measure default risk - the likelihood of a company meeting its debt obligations.
- ESG ratings (EcoVadis, B Corp, MSCI ESG Ratings) measure sustainability performance - how well a company manages environmental, social and governance issues.
They serve different purposes:
- Credit ratings → For investors and lenders
- ESG ratings → For stakeholders and benchmarking as well as investors trust and transparency
However, ESG factors can influence credit ratings when they materially affect financial risk (e.g., climate risk for utilities).
CSA’s Legacy and Credibility
The CSA was developed in 1999 alongside the Dow Jones Sustainability Indices and has been refined over decades. Since the transfer of RobecoSAM’s ESG ratings business to S&P Global, the CSA has continued to evolve and scale as part of S&P Global Sustainable1. The methodology underpins the Dow Jones Best-in-Class Indices and S&P’s scored & screened indices.
Who Participates and how
The CSA targets medium to large, publicly listed companies across industries. Each year S&P Global determines an invited universe (based on market relevance, public visibility and index-eligibility) and invites those companies to participate. Companies that aren’t invited can still request participation — a worthwhile option if you’re preparing for ESG disclosures, index consideration, or global benchmarking. Participation requires submitting detailed ESG data and documentation through S&P’s secure portal.
CSA Adoption in the CEE Region
Globally, over 12,000 companies have been invited to participate in 2025 CSA cycle, with more than 3,500 actively participating in 2024. Yet in the CEE region, adoption remains relatively low - a gap that presents a strategic opportunity.
Estimated Regional Comparison
Companies in CEE that engage with CSA can position themselves as sustainability leaders, attract ESG-focused investors, and benchmark themselves against global peers.
ESG Ratings Landscape: Key Players
Here’s a snapshot of leading ESG rating systems:
Final Thoughts
The S&P CSA offers a powerful way for companies to align sustainability with strategy, gain investor visibility, and benchmark globally. For businesses in the CEE region, early adoption is not just a compliance move, it’s a strategic advantage.
Whether you're already engaged in ESG reporting or just starting your journey, now is the time to explore the CSA and elevate your sustainability profile.
Join us in February for our webinar with S&P Global - and let’s shape the future of ESG leadership together.
