Is ESG On The Way Out? (Credit: Katusa Research) In the past six to twelve months hundreds of articles have surfaced raising concerns about ESG (Environment, Social, Governance), a term often used in financial circles to refer to non-financial issues for responsible investing. For instance, O’Leary and Valdmanis writing in their HBR article entitled An ESG Reckoning Is Coming, point out, “The push in recent years for companies to commit to ESG efforts is commendable. But so far, those efforts have yielded scarce results.” And many, including Thomas O’Neill who writes for Responsible Investor, have noted that ESG ratings are wildly inconsistent.