On 5 March, United Nations member states agreed to protect wildlife and biodiversity in 30% of the world's international waters by 2030. At least 60 countries must adopt and ratify the treaty before it can take effect. Although a growing focus on natural capital and biodiversity is raising policy risks for sectors with elevated exposure to these considerations, the treaty's ultimate credit effect will hinge on the implementation and enforcement of pledges at the country level.

The correlation between board gender diversity and credit quality is stronger in North America and Europe than in Latin America, the Middle East and Africa, and Asia-Pacific, according to our analysis of 3,000 rated companies. Higher-rated companies have a higher proportion of women on boards in most regions.

Moody’s Analytics new regional climate change forecasts shed light on the economic impact of this important long-term risk on all states, territories and metro areas in the U.S.

Sustainable project finance bank loans tend to have lower default rates than non-sustainable project finance bank loans, based on our analysis of the infrastructure, power, and oil and gas sectors. However, sustainability characteristics are not the principal driver of these differences.

Companies in different sectors have had limited credit implications from Peru's sociopolitical environment, but persistent unrest will imply greater damage to companies' credit metrics.

Our quantitative analysis shows social unrest can have credit effects on companies through financial market volatility, economic performance, and government fiscal and institutional strength.