Not all ESG-related behavior is really legitimate ESG behavior. Sometimes firms simply engage in “greenwashing.” This label is used pejoratively against those who are not doing ESG “right.” While the term greenwashing was coined in the late 1980s, it really only took off after the United Nations created the ESG label in the early 2000s. Greenwashing means using environmental language to deceptively label companies, products, or activities as more environmentally friendly than they actually are. Perhaps a company pretends to have environmentally friendly policies while continuing to pollute, or does something showy (like planting a few trees) but of limited significance. https://www.activistpost.com/2023/11/a-short-esg-guide-terms.html