This paper examines how corporations respond to changes in ESG ratings criteria. Using data from a leading ESG rater, we find that firms' reported performance on certain criteria improves within the same month of the rater changing its model to place more emphasis on the criteria. This effect is stronger among firms with ESG-focused institutional investors and customers. We find no evidence that reported performance predicts real changes in firms' ESG behavior. Rather, the improvements appear cosmetic, suggesting the ratings management appeases investors and consumers who rely on ESG ratings. Overall, the results show how firms influence their ESG ratings when they are allowed to engage with ESG raters during the rating process.