Environmental, Social, and Governance (ESG) principles were designed to help businesses align profit with purpose, offering a framework for companies to operate responsibly while addressing climate, social, and ethical risks. ESG has also served as a playbook to help businesses measure their long-term impact beyond short-term profits. Even as the debate intensifies, the core driver of ESG remains unchanged: that companies operate responsibly, transparently and sustainably.

But lately, corporate commitments to these values have been about as solid as wet papier-mâché .

Walking away from ESG, as four of Canada’s largest banks appeared to be signalling when they withdrew from the UN-backed Net-Zero Banking Alliance in January — mirroring similar exits by six of the biggest U.S.

See Full Page