Where does the term "ESG" come from?
ESG was originally coined as a collection of factors to consider in the investment analysis:
The “Who Cares Wins’’ report refers to ESG as being “a joint effort of financial institutions” to “develop guidelines and recommendations on how to better integrate environmental, social and governance issues in asset management, securities brokerage services and associated research functions.”
But it turns out that ESG means different things to different people...
You can even find statements such as “this is not very ESG”, or that companies can “be” or “not be” ESG.
Read more at: https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=632604 ("The Origins and Consequences of the ESG Moniker" by Elizabeth Pollman)