Czynniki środowiskowe w analizie ESG
Environmental factors in the ESG analysis

Summary/Abstract: Socially Responsible Investing has been one of the major investment trends in the financial industry over the last years. Climate and environmental issues play an important role in it. There is some empirical evidence showing a link between a company's envi-ronmental responsibility and its financial results. The research suggests that companies standing out with respect to environmental performance achieve, on average, better and more stable financial results than competition that ignores this aspect. It is worth assuming that the Polish capital market will be, or already is, affected by this global trend. This implies that environmental factors will have a material impact on companies' operations, investors' interest and cost of capital. Our analysis points out that our market scores poorly in environmental issues compared to its counterparts, at least according to leading ESG rating agencies.

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