Environmental, Social, and Governance (ESG) issues are increasingly influencing policy development, corporate strategies, and investment decisions. Despite the growing reliance on ESG ratings from established agencies such as S&P Global’s Dow Jones Sustainability World Index and Bloomberg ESG Ratings, significant discrepancies across these rating systems are creating challenges for stakeholders. This panel discussion will delve into the root causes of these discrepancies, their implications for policymakers, businesses, and investors, and potential solutions to enhance the reliability and transparency of ESG ratings.