We are delighted to congratulate our PhD student Rony Azar on the publication of “Beyond Risk and Return: Reconceptualizing Ratings and Blended Finance for Sustainable Development Impact” in the Mediterranean Journal of Social Sciences (Vol. 17, No. 3, May 2026).

This timely systematic review examines how credit ratings, ESG ratings, and blended finance mechanisms shape capital flows toward sustainable development and why they often fall short.

The paper reveals a fundamental tension: current rating frameworks reward short-term fiscal stability while penalizing the very investments in healthcare, education, and climate adaptation that developing nations need most. Blended finance, while promising in theory, consistently underdelivers on its mobilization targets and rarely reaches the countries where the need is greatest.

The research calls for systemic reform: impact-adjusted rating frameworks, standardized blended-finance platforms, and accountability mechanisms that link financial returns to real development outcomes.

Read the full open-access article: https://doi.org/10.36941/mjss-2026-0097