The value of sustainable businesses is often discussed as though it exists in a steady state. A green widget manufacturer is often assumed to command a persistent valuation premium over its...

Impact entrepreneurs are all about changing the world. Whether tackling climate change, advancing the circular economy, improving healthcare, reducing inequality or creating better educational...

When forecasting the prospects of sustainable firms, it is of course critical to understand their capital structure. Much of the intersection of sustainability and capital structure has focused on one...

Everyone is familiar with the concept of a bank run. It all starts with a fear, a negative perception: Depositors begin to question a bank’s financial strength and rush to withdraw their funds...

Some firms assume that declaring a net zero target will automatically improve how investors view climate risk. Yet investors are becoming more sophisticated than that: A recent paper by Keith Chan and...

When valuing a company, it’s tempting to focus on the business itself – eg. its revenues, its margins, its growth plans Yet in many sectors, you cannot look at this in isolation. A more relevant...

You’ve acquired a business for €10 million. The deal is done — but your financial statements don’t yet reflect what you’ve actually bought. Under IFRS 3, you are required to translate that purchase...

Major external shocks can leave clear marks on corporate financials, making valuations significantly more challenging. This becomes particularly difficult when such shocks are not purely one-off...

Very few companies are purely “green” or purely “brown”.Most businesses operate across a mix of sustainable, transitional and legacy activities. This creates a fundamental strategic question for...