In recent years, rising frustration amonginvestment managers and retail investorsover the plethora of competing ESG reportingstandards and rating agencies has led to callsfor standardizing the mandatory disclosuresof ESG information. While in theory havinga universal ESG reporting framework—similarto what we have for financial reporting—would bring consistency to ESG reporting, inpractice, serious implementation and enforcementchallenges would arise from mandatinga uniform set of ESG reporting standards thatapply to all public companies. This essay discusses the challenges and argues that implementingand enforcing a standardized global ESG framework is impractical and would beextremely costly due to the distinctive features of ESG reporting, which differentiate it from financial reporting.