Corporate strategies that incorporate Environmental, Social, and Governance (ESG) have garnered heightened attention as stakeholders emphasize the importance of sustainable business practices. This comprehensive review examines the relationship between ESG practices and business performance, addressing the mixed results in the current literature. This study aims to clarify the influence of various aspects of corporate performance, encompassing operational, financial, and board performance on ESG, by analyzing its historical evolution and theoretical foundations. This report enhances our understanding of the impact of corporate performance on ESG practices by providing valuable insights for future research.