I find this a very odd analysis.

The article rightfully states that there might be conflicting stakeholder and shareholder interests. But what is the so called conflict between 'E', 'S' and 'G'?

Balancing stakeholder interests/expectations is at the core of strategic decision making, which is all about Corporate Governance (the 'G').

Companies should have adequate Corporate Governance structures and practices to balance the various conflicting interests and expectations. There is no conflict between 'E', 'S' and 'G', there is a prioritization challenge, which requires strong CG practices and a thorough understanding of conflicting expectations and requirements.