Purpose: This study aims to systematically review independent studies on the impact of integrating ESG criteria on financial performance during the COVID-19 pandemic. Research Methodology: The review process followed five key methodological steps: guided by a review protocol, formulating research questions, employing systematic searching strategies including identification, screening, and eligibility across several established databases, and conducting quality appraisal, data extraction, and analysis. Findings: The findings reveal that high ESG scores provided significant downside protection, reduced stock return volatility, and delivered positive abnormal returns, particularly in emerging markets. ESG performance acted as an “equity vaccine”, offering resilience and stability during periods of market instability. Limitations: The review may be limited by the scope and availability of studies focusing on specific markets or regions and the evolving nature of ESG criteria definitions and assessments. Originality/Value: This study contributes to the ongoing discourse on the financial implications of ESG integration, particularly highlighting its protective benefits during economic crises such as the COVID-19 pandemic.