The environmental, social, and governance (ESG) landscape is being shaped by the establishment of various ESG standards and frameworks, many of which have been adopted on a voluntary basis by funds, investment managers, and the companies in which they invest. Although, as of June 2021, there are currently no ESG-specific regulations or rules in the United States, there are many existing securities laws that apply to ESG investing and related claims, and the Securities and Exchange Commission (SEC) is focused on ESG investing from policy, regulatory, examination, and enforcement perspectives. There are a number of steps that funds and their investment managers can, and should, take to assess and address the potential issues presented by ESG investing.