["Corporate Social Responsibility and Environmental Management, Volume 33, Issue 2, Page 2649-2664, March 2026. ", "\nABSTRACT\nUsing ESG scores of listed US companies from Refinitiv, ESG Book, MSCI, Moody's ESG, Bloomberg, and Sustainalytics for the period 2003–2022, we examine the extent of ESG rating disagreement and how it shapes the investable universe under ESG consensus rules. Pairwise correlations between ESG scores remain low and drift within tight bands over time. We introduce the max–min quantile difference as a measure of ESG rating disagreement at the company level and show that at least half of the companies receive both favorable and unfavorable ratings in the same year. ESG rating disagreement has a large impact on the size of the investable universe under ESG consensus rules. If only two providers are required to rate a company above the median, around two‐thirds of the candidates are eliminated. Whereas, if unanimity is required for all six ratings, barely 10% of the listed US companies form the investable universe.\n"]