“For a lot of companies in the leveraged finance space, ESG is a fairly new initiative and they are all in different stages of development in terms of data collection and team sizes varies widely, so resources need to be carefully allocated,” says London-based Fox. “One of the major pieces of feedback we have had from companies is that it is helpful to know where to direct their resources, to ensure they are as efficient as possible when considering credit stakeholder views. That feeds into other stakeholders, including suppliers, clients and regulators.”