Equity index provider MSCI has downgraded Russia’s government ESG rating following the country’s invasion of Ukraine.

The index downgraded Russia from BBB to B, the second lowest rating, with immediate effect. MSCI said it was possible that further events could trigger an “additional downgrade”.

Meanwhile Belarus was downgraded from BB to B. These ratings were given with a negative outlook.

MSCI maintained Ukraine’s government ESG governm...