The ESG Initiative Industry; Vice or Virtue in the Adoption of Responsible Investment?

The ESG initiative industry has grown tremendously in the last decades and many of these organizations serve as an intermediary between companies and their investors. Billions of capital are allocated based on the judgment of these intermediaries and many academic papers rely on them as well. Regardless of its widespread use, little is known about how this industry came about and what its role is. The multitude of initiatives and lack of...