<p>This study examines ESG performance in higher education institutions using data from the 2024 QS World University Rankings. ESG performance is analyzed as it is operationalized and evaluated within a global ranking and benchmarking system, rather than as an abstract or universally defined sustainability construct. Using a cross-sectional sample of 1,277 universities, with effective sample sizes varying across models due to data availability, the analysis explores the association between selected institutional characteristics and observed ESG performance, as well as its governance, social, and environmental dimensions. The results show that institutional equality and knowledge exchange are consistently and strongly associated with higher ESG scores across all model specifications. Academic reputation and citations per faculty exhibit differentiated associations across ESG dimensions, while international student enrollment shows no statistically significant relationship. Gross tertiary education enrollment displays dimension-specific effects, being negatively associated with governance scores and positively associated with social performance. Overall, the findings highlight the close alignment between ESG performance and visible institutional characteristics within ranking systems. The results provide practical insights for university administrators while emphasizing the importance of the measurement context in shaping observed ESG outcomes. All findings should be interpreted in light of the cross-sectional design and the ranking-based operationalization of ESG performance.</p>