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Huge pay-packets have been a topic of considerable controversy, especially during and the period following the COVID pandemic. Such a situation gives rise to the questions of whether the companies that give out these large pay-packets have contributed to society and general welfare by enhancing their companies’ environmental, social and governance (ESG) performance. This study concentrates on ESG performance of companies with the most highly compensated key executives and its influence on firm value during the evolution and progression of the COVID pandemic.