Our bi-weekly spotlight explores key ESG-related market developments and their implications for corporates and investors. ESG in the News Earlier this week, credit ratings provider S&P Global acquired The Climate Service (TCS) for an undisclosed amount to add capabilities to its portfolio of ESG insights and solutions for customers. Founded in 2017, TCS developed the Climanomics platform to quantify physical climate risk analytics for corporations, investors, and governments. Outputs, including modeled transition risk and physical risk analysis presented in financial terms, are aligned with Task Force on Climate-related Financial Disclosures (TCFD) recommendations. The platform models physical risk, such as extreme temperatures, drought, fires, and storms and also supports clients with intelligence on transition risks. The acquisition follows S&P Global's April 2021 launch of Sustainable1, set to be a single source of sustainability intelligence.