If applicable, please give one example within the answer.

In this course, we have reviewed the importance of standards in the world economy and also considered the more recent ESG dynamic. It seems that there lacks a consistent and agreed definition of ESG standards although a number of organizations such as the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB); CDP (formerly the Carbon Disclosure Project); the Carbon Disclosure Standards Board (CDSB); and the International Integrated Reporting Council (IIRC) are engaged in this attempt. Indeed, the Intemational Financial Reporting Standards (IFRS) Foundation has also undertaken this effort but rule making can take an extended period of time. Is ESG a current trend or fad? Will ESG survive when held to a Milton Friedman standard that suggests the purpose of a corporation is for the benefit of its shareholders? Or, stated another way, should ESG be the responsibility of corporations or should governments set standards to which corporation must adhere? Can ESG