Risk Perception and Sustainability: Exploring Investor Behavior in ESG Investments

This thesis explores the relationship between financial risk perception and the propensity towards sustainable investments, focusing on ESG (Environmental, Social, Governance) criteria. After a theoretical overview of the evolution of responsible investments, European sustainability regulations, and ESG rating systems, the analysis centers on the behavior of Italian investors. Using data from the Doxa-Grins questionnaire, the study investigates how perceived financial risk correlates with interest in sustainable investments, also considering socio-demographic variables. The results highlight how environmental, social, and governance awareness influences financial decision-making, suggesting that sustainability is not only an ethical value but also a risk management strategy.