Individual companies also are leading the way. Both asset manager BlackRock and investment firm Morningstar have their own ESG divisions, and Morningstar annually reports on 116 indices that evaluate companies on ESG criteria. Some shareholders fear that ESG investing requires a financial sacrifice, but a February 2022 report from Morningstar concluded that while ESG investments might not beat the market, they can provide "stellar" protection from economic downturns and produce competitive returns.