Inversión sostenible, ¿cómo identificar y medir desde lo cuantitativo el impacto de los factores ESG en la valoración de las empresas? Propuesta metodológica para identificar su aporte real desde lo financiero

Abstract

Sustainable investment is understood as the action of carrying out an analysis of ESG factors in a company, with the aim of allocating capital to it based on the opportunities that this allocation of resources can generate in environmental, social, and governance terms, without ignoring the economic contribution of these factors. The interest lies in the fact that these companies, according to the literature, have a higher market value compared to those that do not have ESG. However, these studies do not provide sufficient related evidence on their real contribution to value generation through existing business valuation methods. This paper will focus on quantifying the value generated by ESG in the valuation of companies, proposing a methodology that allows, from the review of the discounted free cash flow, to implement the ESG component, specifically, implementing the existing ESG ratings.