An increasing number of institutional investors, employees, and consumers are expressing interest in ESG (environmental, social, and governance) factors. Investment vehicles targeting ESG objectives are being launched, and several organizations propose to rank publicly traded firms according to various ESG scores. How are these factors measured, and how should boards respond to calls for greater sensitivity on this score? And, what is a board to make of institutional investors who demand greater corporate social responsibility but who fail to define with precision how social responsibility is to be measured? This panel addresses the broad range of governance challenges posed by the emerging emphasis on ESG issues and various strategies that boards can use to respond constructively to these emerging trends.