They helped create ESG. Two decades later, some see a mess.

Read the full story at E&E News.

What started as a half-baked idea among low-level staffers at the United Nations has grown into the green Frankenstein of Wall Street. ESG investing is now worth nearly $2.8 trillion in assets worldwide, according to one estimate.

A big reason for the explosion is that the three-letter acronym has morphed into a vague symbol with few guidelines surrounding what it means. Put another way: It’s as if farmers could market vegetables as organic but without restrictions on genetic engineering.

All of this surprises ESG pioneers.

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