Environmental, Social, and Governance (ESG) practice is marching on the boardrooms. Increasingly, investors are scrutinizing companies, institutions, and whole industries under an ESG microscope. For example, more than 100 companies with a collective market cap of more than $3.3 trillion—and financial firms with roughly $24 trillion of assets on the books— have endorsed the recommendations of the Task Force on Climate-related Financial Disclosures. Directors are in the hot seat, and considering the impact of ESG risks on long-term value creation. How are boards responding?