Is the Environmental, Social and Governance (ESG) framework a catalyst or a constraint in addressing the challenge of climate change?

Please discuss the following sections:

1) An overview of the ESG framework – including historical development and integration into business practices and a timeline of key regulations.
2) Discuss ESG as a catalyst including driving sustainable practices and investor influence, and other positive associations (including examples).
3) Discuss the constraints and issues of the ESG framework (eg Greenwashing, geographical state misalignment, resource diversion, misaligned incentives, limitations and criticisms etc) and provide examples.
4) Discuss the overall future prospects of the ESG framework, including emerging trends and ways it could evolve to become better as well as the role of government in this process.
Please ensure that the references are correct and relevant to the piece of work.

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