ESG: The Origin, Rise & Backlash

From boardrooms to headlines, ESG has sparked both enthusiasm and controversy. This lesson breaks down how it began, why it gained momentum, and where the backlash comes from.

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Lesson Overview

ESG was never meant to be a catch-all solution — but over time, it became one of the most prominent and polarising topics in finance and business.

In this short lesson, we explore:

  • 📌 The origin of ESG — a framework over 20 years in the making, goals that we are still striving for, and why the original intent still holds relevance
  • 📌 The rise of ESG — how global sustainability challenges, regulatory pressure, and the Covid experience brought ESG into the mainstream
  • 📌 The backlash — what went wrong, the fallout from exponential growth, how misinformation spread, and why communication and authenticity are essential

ESG is one of the most talked-about — and misunderstood — concepts in business. Clarity on what it is, and what it isn’t, has never been more important.

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Short lessons. Clear thinking. Real impact.

A small shift in thinking can make a big difference.

— Vincent McCarthy, CFA
Founder, Responsible Investment Institute®