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Les cahiers de l’évaluation

Les cahiers de l’évaluation No. 6 - Report: Rating = assessment? - Vol. 3, "Non-financial rating"

Les cahiers de l’évaluation No. 6 - Report: Rating = assessment? - Vol. 3, "Non-financial rating"


The sixth cahier on non-financial rating (or ethical rating) is part of an overall reflection of the rating system regarded as a solution for the common information asymmetries in our modern economy.

Our daily life is increasingly imbued with these rating mechanisms (No. 4, “De Michelin à eBay"). They also infiltrate the business to business world, going as far as to taking on a systemized dimension at the international level (No. 5, "La notation financière") and creating new regulation trends in the United States and in the European Union.

This cahier, like earlier editions, looks into the ratings of companies. However, this cahier has a particular focus on the issue from the point of view of corporate social responsibility. How should a "rating" that guides the selection of socially responsible investors be measured and deduced? Nicole Notat, President of Vigeo, a leader in the non-financial rating sector in Europe, discusses this topic, while Nicolas Treich from the Toulouse School of Economics points out that corporate social responsibility is a foreign concept for economists [... but ...] is currently the topic of interest for a large amount of research. 

This issue was previewed at the seminar “Financing the ecological transition", held at Bercy July 12th 2012 together with the Treasury Department and the General Commission for Sustainable Development.


  • The company and the world
  1. From Quaker
  2. …to Word Company 
  • Corporate social responsibility (CSR)

3. Making profit
4. ...under rules
5. ...under the pressure from society
6. LIVING TOGETHER on the planet

  • Socially responsible investment (SRI)

7. The pioneers: the Golden Sisters
8. Financially responsible families
9. What motivates investors?
10. Opportunistic or altruistic?

  • Non-financial information (rating)

11. Arese, the first French agency
12. Non-financial rating
13. Agencies in 2011
14. Critics
15. In conclusion

  • More....

• Filmography 
 Ticket from Nicolas Treich (Toulouse School of Economics) and
• Interview with Nicole Notat (photo), President of Vigeo, Non-financial rating agency

Les ressources


Centre d’analyse stratégique