Nordic companies are leading the way – on average, they are superior to
European and especially North American peers when it comes to ESG. We
believe ESG superiority among Nordic companies creates significant potential to
achieve above-market growth and profitability for a long time.
We have built a unique data set based on 40 ESG-related metrics for 230 Nordic
companies and collected subjective information about how a stronger ESG trend
could impact long-term estimates. Using this data, we assess how Nordic
companies could fare in the future. Our findings suggest an aggregated market
cap upside of as much as EUR 40bn, mainly owing to Nordic companies’ position
at the forefront of the ESG trend.
Not everyone is a winner
In a world that is moving towards sustainability, having a commercial offering
that provides solutions to ESG-related issues could be a key success factor.
Demand will likely be affected by regulations and changes in consumer
behaviour. We find it likely that this will support Nordic companies, especially in
the Materials, Forestry and Capital Goods sectors. Other sectors such as Energy
and Transportation could be hit by new regulation without seeing any increased
demand – and suffer a negative valuation impact as a consequence.
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