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ARGONAS in the Unternehmeredition 3/2025 ESG Reality Check | Christian Berkhoff

Hardly any other trend has had such a massive impact on transaction business in recent years as environmental, social and governance (ESG) criteria. After an unprecedented rise, disillusionment has set in since the beginning of 2025 at the latest, raising the question of how relevant ESG criteria will (still) be for deals in the future. Is ESG dead? Taking a sober view, the answer is no – but ESG is changing from a dogmatic core driver to a pragmatic secondary condition.

Link: Unternehmeredition (German only)