An Analysis of the Impact of ESG Screening on Financial Performance of Selected Indian Companies

In recent years, increasing Environmental, Social and Governance (ESG) consciousness has necessitated the need to hold companies accountable for social consequences resulting from their activities. This paper focuses on analyzing the impact of ESG screening on financial performance of the companies. The analysis of stock returns and beta of selected NIFTY 50 companies conducted using Shapiro-Wilk test, Wilcoxon test and Paired Sample t test indicate that there is no impact of ESG screening on financial performance and risk profile of the companies.