When it comes to the American Library Association’s (ALA) more than $66 million endowment, we trustees are mindful of the ethical impact of the Association’s investments. That’s where ESG, or environmental, social, and governance, investing comes in. ESG investing refers to the practice of incorporating environmental impact, social issues, and corporate governance into investing decisions. A series of United Nations–sponsored reports popularized the term in 2004, although some earlier investment funds practiced socially responsible investing. Some that remain popular and influential include: Calvert’s social investment fund, launched in 1982; TIAA’s CREF Social Choice Account (now the CREF Responsible Balanced Account), established in 1990; and Domini, which introduced the first environmental and social index fund in 1991. This column will answer the primary questions that endowment trustees are asked about ESG investments and how ALA approaches them. When does ALA choose ESG funds?…