ESG in vrednotenje podjetja

This thesis examines the integration of Environmental, Social, and Governance factors into company valuation, focusing on Mercedes-Benz Group AG as a case study.The research addresses the growing importance of ESG in financial decision making and its implications for valuation models, particularly within the automotive industry undergoing a major sustainability-driven transformation.Using a Discounted Cash Flow approach, the study evaluates a base case and two scenarios: a base case reflecting current operations, a scenario emphasizing accelerated electrification of the product portfolio, and a scenario prioritizing cost optimization through sustainability-oriented investments in R&D and CAPEX.The analysis incorporates adjustments to key valuation drivers such as revenue, cost structure, and Weighted Average Cost of Capital, including a regressionbased beta estimation linked to EV share in production.Results indicate that proactive investment in sustainable production processes yields the highest estimated share price, underscoring the strategic value of ESG integration for long-term competitiveness.The findings highlight ESG as a critical determinant of enterprise value and advocate for embedding sustainability into core business strategies to enhance resilience and shareholder returns.