Researchers found that firms’ ESG ratings were also “significantly negatively associated with returns” in the Q2 recovery period.

The research company says the move aims to “encourage open discussion among investors and companies on how to improve sustainability across the board”.

Some companies encounter obstacles to full integration of ESG principles. It may be that consumers have more power than they imagine to change corporate behaviours for the better.

Environment, social and governance have become critical issues in the way investors judge companies, but corporates face too many ESG measures suffering from too little standardisation.