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Investment Analytics · head to head

MSCI vs Morningstar Sustainalytics

MSCI logo

MSCI

Investment Analytics

Indexes, Barra factor models, RiskMetrics risk, ESG ratings and private asset data

From
On request
Free plan
No
Full reviewWebsite
Morningstar Sustainalytics logo

Morningstar Sustainalytics

Investment Analytics

ESG Risk Ratings, controversies and regulatory data for investors

From
On request
Free plan
No
Full reviewWebsite

The short version

  • Each has a real cost: MSCI no prices are published for any index licence, model or platform; every product page routes to a demo request or contact form (checked November 2026).; Morningstar Sustainalytics no prices are published for any dataset or platform licence; everything goes through a request-details form, checked November 2026.
  • They diverge on capability: MSCI covers MSCI indexes, Morningstar Sustainalytics covers ESG Risk Ratings.
  • Prices and features above were last checked on 12 November 2026.

Where they differ

Only the attributes on which MSCI and Morningstar Sustainalytics actually diverge.

Attributes where MSCI and Morningstar Sustainalytics differ
AttributeMSCIMorningstar Sustainalytics
PlatformsWeb, API, CloudWeb, API

Identical on both: starting price (On request), pricing model (quote), free tier (No), user rating (Not yet rated), category (Investment Analytics).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in MSCI

  • MSCI indexes
  • Barra equity factor models
  • RiskMetrics RiskManager
  • BarraOne
  • ESG Ratings and climate data
  • Private asset data (Burgiss)
  • MSCI Connector (MCP)
  • Cloud and API delivery

Only in Morningstar Sustainalytics

  • ESG Risk Ratings
  • Controversies Research
  • Low Carbon Transition Ratings
  • Regulatory datasets
  • Country Risk Ratings and sanctions screening
  • Global Access platform
  • API and data feeds
  • Corporate licences and second-party opinions

What people use each for

The jobs each tool is most often brought in to do.

MSCI

  • Benchmarking equity portfolios against MSCI ACWI, World or Emerging Markets indexesnot Morningstar Sustainalytics
  • Measuring factor exposures and ex-ante risk with Barra modelsnot Morningstar Sustainalytics
  • Enterprise VaR, stress testing and regulatory risk reporting with RiskManagernot Morningstar Sustainalytics
  • Screening and reporting on portfolio ESG and climate characteristicsnot Morningstar Sustainalytics
  • Benchmarking private equity and private credit funds against peer datanot Morningstar Sustainalytics
  • Running total portfolio risk across public and private allocationsnot Morningstar Sustainalytics

Morningstar Sustainalytics

  • Screening an investment universe on unmanaged ESG risk before portfolio constructionnot MSCI
  • Monitoring holdings for ESG controversies with daily alertsnot MSCI
  • Producing SFDR, EU Taxonomy and EBA Pillar III disclosures from licensed datanot MSCI
  • Measuring portfolio alignment with net zero through implied temperature risenot MSCI
  • Prioritising engagement and proxy voting by material ESG issuenot MSCI
  • Licensing a company's own rating for marketing or a sustainability-linked loannot MSCI

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

MSCI

  • No prices are published for any index licence, model or platform; every product page routes to a demo request or contact form (checked November 2026).
  • It is a set of separately licensed products, so indexes, Barra models, RiskManager, BarraOne, ESG Ratings and Private i are each bought and entitled on their own rather than as one subscription.
  • Not a market terminal: MSCI does not offer real-time news, quotes or trade execution, so firms still need Bloomberg, LSEG or FactSet alongside it.
  • ESG Ratings are relative to industry peers on the AAA to CCC scale, so a high rating says a company manages its industry's risks better than peers, not that its absolute impact is low.
  • Coverage figures on product pages carry different and sometimes old as-of dates (ESG coverage as of June 2024, factor model coverage as of March 2024), and the RiskManager page's own 'Which asset classes are covered?' FAQ has no answer.

Morningstar Sustainalytics

  • No prices are published for any dataset or platform licence; everything goes through a request-details form, checked November 2026.
  • The ESG Risk Ratings measure financial risk to the company from ESG issues, not the company's impact on the world, so a firm with a damaging product can still score low risk. Buyers wanting impact or double materiality need separate datasets.
  • The ratings depend on analyst assessment, which caps coverage: the ESG Risk Ratings page cites more than 16,000 companies, a fraction of the universe that model-driven providers claim.
  • Distribution is uneven by product: the Low Carbon Transition Ratings page lists FactSet, Aladdin and Bloomberg as planned rather than live, so a dataset available in one terminal may not be in another.
  • Since 1 December 2023 the site states its ESG ratings and data are not intended for India-based clients, users or residents.
  • Morningstar sells both these ratings and Morningstar Direct, and corporates can pay to license their own rating; investors relying on it should read the conflict-of-interest disclosures that come with the ESMA application, which was still pending in November 2026.

Pricing, plan by plan

MSCI

On request

No published plan breakdown. See the MSCI review.

Morningstar Sustainalytics

On request
  • Investor solutions$undefined/mo
    • Priced by quotation through a request-details form
    • Licensed by dataset: ESG Risk Ratings, controversies, climate, regulatory and screening
    • Delivered via Global Access, API, datafeed or partner platforms
  • Corporate solutions$undefined/mo
    • Priced by quotation
    • ESG rating licences, Top-Rated Companies badges and second-party opinions

Which should you pick?

Choose MSCI if

  • You need msci indexes.
  • You work on Web, API, Cloud.
  • You also want barra equity factor models.
MSCI review

Choose Morningstar Sustainalytics if

  • You need esg risk ratings.
  • You work on Web, API.
  • You also want controversies research.
Morningstar Sustainalytics review

Questions people ask

Is MSCI or Morningstar Sustainalytics better?
Neither clearly leads. MSCI starts at On request and Morningstar Sustainalytics at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, MSCI or Morningstar Sustainalytics?
MSCI starts at On request and Morningstar Sustainalytics at On request.
Does MSCI or Morningstar Sustainalytics run on more platforms?
MSCI runs on Web, API, Cloud. Morningstar Sustainalytics runs on Web, API.
What is MSCI best used for?
MSCI is most often used for benchmarking equity portfolios against msci acwi, world or emerging markets indexes, measuring factor exposures and ex-ante risk with barra models, enterprise var, stress testing and regulatory risk reporting with riskmanager, screening and reporting on portfolio esg and climate characteristics. Of those, benchmarking equity portfolios against msci acwi, world or emerging markets indexes and measuring factor exposures and ex-ante risk with barra models are not what Morningstar Sustainalytics is typically brought in for.
What can MSCI do that Morningstar Sustainalytics cannot?
MSCI covers MSCI indexes, Barra equity factor models, RiskMetrics RiskManager, BarraOne. Morningstar Sustainalytics covers ESG Risk Ratings, Controversies Research, Low Carbon Transition Ratings, Regulatory datasets.

Answered from the vendors’ own pages

MSCI: How much does MSCI cost?

MSCI does not publish pricing. Index licences, factor models, risk platforms, ESG data and private asset products are quoted individually through its sales team.

Source
Morningstar Sustainalytics: What do Sustainalytics ESG Risk Ratings measure?

The amount of material ESG risk a company leaves unmanaged. Exposure is set at sub-industry level, unmanageable risk is separated out, and the remainder is assessed against the company's policies, programmes and controversies. The result falls in one of five bands: negligible, low, medium, high or severe.

Source
MSCI: What is the difference between RiskMetrics and RiskManager?

RiskMetrics is the calculation engine; RiskManager is the hosted platform built on it. RiskManager brings VaR, factor, stress testing, liquidity and counterparty credit risk together and supports regulatory reporting, with results deliverable to a data warehouse or third-party systems by API.

Source
Morningstar Sustainalytics: How many companies does Sustainalytics rate?

The ESG Risk Ratings page states analyst coverage of more than 16,000 companies across public equity, fixed income and private issuers, using over 200 indicators and 1,800 data points. Controversies Research monitors more than 19,000 entities.

Source
MSCI: How are MSCI ESG Ratings scored?

Companies are rated from AAA to CCC relative to their industry peers, based on financially relevant, industry-specific environmental, social and governance risks and opportunities. MSCI states coverage of more than 17,000 issuers and 999,000 securities.

Source
Morningstar Sustainalytics: How is Sustainalytics data delivered?

Through the Global Access web platform, an API documented in OpenAPI and Swagger, scheduled datafeeds to SFTP, and partner platforms including Morningstar Direct, Bloomberg, Aladdin, FactSet, RIMES, Markit and Style Analytics.

Source
MSCI: Is Burgiss part of MSCI?

Yes. MSCI completed its acquisition of The Burgiss Group, a provider of private asset data and analytics, on 2 October 2023. MSCI now sells private asset data and analytics through products including MSCI Private i, private asset indexes and private asset factor models.

Source
Morningstar Sustainalytics: Who owns Sustainalytics?

Morningstar, Inc. It acquired a 40% stake in 2017 and completed the purchase of the remainder in July 2020.

Source
MSCI: Can MSCI data be used inside AI assistants?

Through the MSCI Connector, a Model Context Protocol connection available in Claude, ChatGPT, Gemini, Microsoft Copilot and MSCI ONE. Responses are entitlement-controlled, and MSCI states client data is not used to train AI models.

Source
Morningstar Sustainalytics: Is Sustainalytics authorised under the EU ESG Ratings Regulation?

Sustainalytics B.V. has applied to ESMA for authorisation as an ESG rating provider, covering eleven products including ESG Risk Ratings, controversy ratings and low carbon transition ratings. A decision had not been announced as of November 2026.

Source
MSCI: What do the Barra factor models cover?

MSCI lists more than 70 equity factor models covering over 90,000 securities, 49 industries and more than 85 countries, with newer Barra models adding sustainability, crowding and machine learning factors.

Source
Morningstar Sustainalytics: What does Sustainalytics cost?

Prices are not published. Investor and corporate products are sold by quotation through a request-details or contact form.

Source
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