We propose a novel procedure for detecting ESG-specific events' using a large dataset of news and social media. Tracking firm-specific sentiment and controversies, we find a significant impact of both positive and negative ESG events on stock market valuations, with larger reactions observed for negative events. Surprisingly, when classifying events as either E, S, or G, the observed price impact is mainly concentrated in the Social and Governance pillars, with little reaction to Environmental issues. Significant heterogeneity is observed when decomposing the results across industries, revealing strong responses in the Technology, Basic Materials, and Consumer Cyclicals sectors, but little evidence of an effect in the Financial and Industrials sectors. Finally, we provide evidence that the impact of media ESG events has declined over time, but only for negative events, suggesting a changing valuation of ESG risks.