There were 42 rating actions related to environmental, social, and governance (ESG) factors in the second quarter, up from 35 in the first quarter, a 20% increase--with negative actions continuing to outpace positive ones. Governance factors remained the primary driver in the second quarter, representing 83% of ESG-related rating actions. Risk management, culture, and oversight continued to be the primary underlying ESG factor with 21 actions, up from 18 the previous quarter. U.S. public finance continued to be the sector with the most ESG-related rating actions in the second quarter, increasing to 24 from 21 the prior quarter, for a year-to-date total of 45 (58% of total ESG-related rating activity this year).