The article focuses on the methodology of non-financial reporting Environment, Social and Governance (ESG), which is becoming mandatory for companies in the EU. The authors examined the recent status of voluntary ESG reporting with investor interest in a selected industry sector. The research investigated whether, in a pre-mandatory voluntary reporting period, investor interest in ESG was evident in the global oil and gas industry. The authors researched ESG reporting by MSCI and investment grade ratings by Fitch from 2020–2022. Data for the research was collected from 32 global corporations that are considered major ethical risk areas with respect to sustainability. A regression linear analysis method was used to determine the stated objective. The research results showed a small statistical relationship between ESG and credit rating. The research was interpreted in theoretical terms as a constant ethical challenge.