The crisis which ESG in the current avatar is of underperformance or at least the optics of it. ESG is not a monolith and has to be gauged on a sliding scale. The non-financial risk metrics are weak signals of material risks to be, which is a temperature check equivalent of something which might go wary. ESG itself needs to be assessed on its own terms rather than a proxy for the weight of our collective aspirations regarding climate change. ESG is a proxy for an aspect for which it is, it is a way of doing business the right way.