You’ve probably heard of ESG, and may know it as a form of investing and finance that involves considering material financial risks from environmental factors, social issues and questions of corporate governance. If you’re like most people, you’re probably not clear on the difference between ESG and socially responsible investing, impact investing and similar, sometimes overlapping approaches — in part because ESG has come to means different things to different people. That vagueness has helped fuel rapid growth in recent years. But with that growth has also come increased scrutiny from regulators cracking down on banks and investment firms making exaggerated claims. In the US, ESG has also faced backlash both from conservatives who deride it as “woke capitalism” and from insiders who say it isn’t creating the kinds of real-world…