Sustainalytics, the environmental, social and governance (ESG) rating unit of U.S. financial services group Morningstar, has downgraded Tencent Holdings, Baidu and Weibo Corp over their role in China’s expanding control of its internet.
The move, which was made in recent months, prompted at least one U.S. asset manager, WisdomTree Investments, to delete the firms from two of its indexes during its latest annual rebalance, according to a Oct. 24 post by WisdomTree.
