(30)To ensure a high level of investor and consumer confidence in the internal market, ESG rating providers which provide ESG ratings in the Union should be required to be authorised. It is therefore necessary to lay down harmonised conditions for such authorisation and the procedure for granting or refusing and suspending or withdrawing such authorisation. Authorised ESG rating providers should notify ESMA of any material changes to the conditions for their initial authorisation without undue delay. Material changes include any opening or closing of a branch within the Union. In order to provide more clarity to ESG rating providers, ESMA should specify what constitutes a material change by issuing guidelines to that effect.