Evolution of ESG from CSR and SRI

ESG is an evolution of older concepts like CSR and SRI, with the addition of governance. It gained traction after the 2008 financial crisis when the US government bailed out Wall Street, leading to a loss of confidence in the market. This pattern of injecting large sums of money into the economy during crises, termed quantitative easing, was repeated in 2020 with the COVID CARES Act.