Damodaran Continues His Explosive Remarks About ESG

Business Valuation UpdateVol. 29 No. 6
June 2023
valuation methods & approaches
cost of capital, income approach, risk analysis, cash flow, discounted cash flow (DCF)


At the ASA Spring Fair Value Conference in New York City on May 4, we did not expect to hear any glowing words about the environmental, social, and governance (ESG) movement from Professor Aswath Damodaran (New York University Stern School of Business). In his blog, he has been very vocal in his strong criticisms of ESG as a “weapon of mass distraction” and a “gravy train” for consultants, investment managers, scoring/ratings providers, and those pushing for more disclosures.