The 2025 State of ESG Data Report is a comprehensive analysis of the evolving landscape of sustainable investing, focusing on the perspectives of global financial market participants. Conducted by Morningstar Sustainalytics, the report presents findings from a survey of 145 respondents, including asset owners, asset managers, and banks, who provided insights into their experiences and challenges with ESG data. The report identifies key concerns such as data quality, coverage, and integration, emphasizing the importance of actionable data in investment strategies. It highlights a growing demand for forward-looking insights and unique data sets, indicating a shift from mere compliance to proactive investment decision-making. The findings reveal that while many participants are optimistic about sustainable investing, they face challenges related to inconsistent standards and data quality. The report serves as a vital resource for understanding the priorities and motivations of investors as they navigate the complexities of integrating sustainability into their investment processes.