1. Introduction
In recent years, Environmental, Social and Governance (ESG) considerations have become critical to the success of many companies operating and financial models, given the growing investor interest and stakeholder scrutiny around ESG issues. Over the last decade, a raft of academic studies has drawn a strong link between the adoption of various ESG standards & targets and equity value creation. Whether a company is performing, underperforming or in a distressed situation, the prevailing sentiment in European markets is that a commitment to ESG standards can materially affect a businesss value and its ability to obtain competitive funding. However, this is far from a universal view: the war in Ukraine, for example, has com…
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