The financial performance of the Greek food industry before and after the application of ESG criteria

This paper examines the impact of ESG (Environmental, Social and Governance) practices on the profitability of Greek food companies. The research reveals that there are different views on whether ESG positively or negatively affects the economic profitability of a firm, and particularly the effects of environmental, social, and intergovernmental responsibility practices may differ. Specifically, the study reports that Greek food companies are at an early stage of adopting ESG standards. There is an improvement in return on equity and return on earnings multiple. However, the overall impact of ESG criteria seems to be neutral. Although this literature review demonstrates that the adoption of ESG has benefits for Greek food companies, there remains a doubt as to whether the adoption of these criteria positively or negatively affects the profitability of companies. This review provides an overview of the results reported by various studies and researchers. It is important to continue research to analyse the impact of ESG on companies and encourage the adoption of a sustainable strategy for the future.