Recently, ESG has become a main topic of shareholders, boards, and C-suites. Billions in capital have been deployed through Impact or ESG-rated funds. Ninety percent of S&P 500 companies now have ESG strategies, and ESG mentions grew more than 300 percent in investor briefings. Major indices have been created to measure and benchmark ESG plans and activities across companies. Yet how many of these efforts are driving real improvement for society?

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