What is ESG? Some proponents see it as a way for investors to grow their wealth while fighting climate change and racism. But critics, like Elon Musk, call it an “outrageous scam.” WSJ’s Amrith Ramkumar explains how “environmental, social and governance” became three of the hottest words on Wall Street.

Further Reading:

- Elon Musk Calls ESG ‘An Outrageous Scam’ After Tesla Was Removed From Index 

- SEC Fines BNY Mellon Over ESG Claims 

- SEC Proposes More Disclosure Requirements for ESG Funds 

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