Is Sustainability Profitable?
This paper examines the relationship between the ESG-score, including its pillars Environment, Social and Governance and market return from July 2002 through June 2018 by using the Stoxx Europe 600 index. The comparison is done by applying a portfolio approach and panel data fixed effect approach. By comparing some of the most used multifactor models, the CAPM and Fama- French three-factor model w