The Norsif Guide to ESG Integration in Fundamental Equity Valuation provides hands-on guidance for analysts and others who do financial firm valuations that recognise environmental, social and governance (ESG) issues. The first part contains specific analytical guidance into the key ESG-related issues. Drawing on established frameworks and practical analyst experience, this section outlines both general ESG issues and industry-specific considerations. The second part introduces core valuation methods from finance literature, demonstrating how to integrate specific ESG issues in actual valuations. These include the effects on cash flow forecasts, optionality, and scenarios, as well as accounting for when owners' objectives are not exclusively financial. Finally, the appendices include a guide to financial modelling and three short industry cases highlighting the importance of ESG in financial and strategic analyses. The inspiration for this guide arose out of a failure to find a valuati