ESG is the newest area of focus for the US Securities and Exchange Commission and many industry groups. The ESG bandwagon, while fully accommodating all passengers, has two distinct drivers. The first driver is a credit driver grounded in the desire for good solid disclosure regarding ESG risks and the effect on the credit of the issuer of debt securities (or equity securities in the corporate market for that matter). The second driver is the so-called “values-based investor” and investment funds that market to values-based investors. This overview briefly explores the ESG phenomenon and the potentially conflicting objectives of market participants.