ESG Ratings Disclaimer

The ESG ratings issued by Global Green Xchange AG ("GGX AG" or “GGX”) are independently calculated risk figures based on raw ESG data of the specific underlying company.

These data are dynamic and change per calculation cycle. The GGX ESG ratings reflect the change in ESG performance from reporting period (financial year) to reporting period. As a rule, the calculation takes place as of the publication of the relevant key figures (raw data) by the company in question. Other calculation cycles are also possible.

The ESG ratings are not an opinion of the creditworthiness of an entity or obligor, either in general or regarding a specific financial obligation. GGX’s ESG ratings are statements of opinion regarding the environmental, social and governance performance – not a credit or repayment risk opinion.

A GGX ESG rating is not a recommendation to purchase, sell, or hold stocks or shares in an institution or particular security. A GGX ESG rating does not assess or indicate the likelihood of changes in the market price of rated instruments due to market-related factors, such as changes in interest rates or liquidity. A GGX ESG rating is not an opinion of the liquidity in the market of an issuer’s securities.

A report providing a GGX ESG rating is neither a prospectus nor a substitute for the information assembled, verified and presented to investors by the issuer and its agents in connection with the sale of the securities.

GGX ESG ratings are based on information from sources believed to be both reliable and of satisfactory quality. Despite a high level of diligence, GGX AG cannot guarantee an end-to-end review or independent verification of all information received or otherwise acquired during the ESG rating process, and may in some cases rely on unaudited financial and/or non-financial data.

The information provided by GGX on this website and in reports and other publications, including via GGX licensed third party databases, is provided "as is" without warranty of any kind. GGX cannot make representation or warranty, expressed or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any such information.

In no event shall GGX, its subsidiaries, affiliates, shareholders, directors or employees be liable to any person or entity for any and all losses or damages (including, without limitation, lost profits, attorney's fees, lost time or goodwill) caused by, resulting from, or relating to:
the use of GGX’s ESG ratings or other information on this website, including for any decision made or action taken based on information provided or published by GGX;

• any error, inaccuracy, or omission (regardless of cause) in the content of this website, including information contained in GGX’s ESG rating reports and other publications, or in the collection, analysis, interpretation, communication and publication and of any information forming part of the content;
• any delay or interruption to service, regardless of cause.
• Users of GGX’s ESG ratings should not rely solely on those ratings for their investment and other decisions but should perform their own analysis and conduct appropriate due diligence.

It is prohibited to publish, (re-)distribute, copy or make the GGX ESG ratings–full or in parts–otherwise available to not licensed audiences or users. GGX reserves the right to legally enforce full commercial compensation in any jurisdiction where the GGX ESG ratings have been made available without an official written license agreement by GGX.