Penelitian ini bertujuan untuk menguji pengaruh risiko environmental, social, and governance terhadap risiko sistematik dengan kinerja keuangan sebagai variabel mediasi pada perusahaan Bursa Efek Indonesia indeks IDX ESG Leaders tahun
2020-2023. Pengambilan sampel menggunakan metode sampling total dan diperoleh sampel sebanyak 51 perusahaan, sehingga terdapat 204 data observasi. Metode analisis data yang digunakan adalah analisis jalur (path analysis) menggunakan aplikasi SPSS versi 30. Hasil penelitian menunjukkan bahwa risiko environmental, social, and governance tidak berpengaruh terhadap risiko sistematik, risiko environmental, social, and governance tidak berpengaruh terhadap kinerja keuangan, kinerja keuangan tidak berpengaruh terhadap risiko sistematik, dan kinerja keuangan tidak mampu memediasi pengaruh risiko environmental, social, and governance terhadap risiko sistematik.
Kata Kunci: Risiko Environmental, Social, And Governance, Kinerja Keuangan dan Risiko Sistematik

The objective of the research was to examine the effect of environmental, social. and governance risk on systematic risk with financial performance serving as a mediating variable in Indonesia Stock Exchange companies in the IDX ESG Leaders index from 2020 to 2023. The total sampling method was employed to obtain a sample of 51 companies, resulting in a total of 204 observation data. The data analysis method used was path analysis by utilizing the SPSS version 30 application. The results of the research showed that environmental, social, and governance risk don't have effect on systematic risk; environmental, social, and governance risk don't have effect on financial performance; financial performance doesn't have effect on systematic risk, and financial performance is not able to mediate the effect of environmental, social, and governance risk on systematic risk. Keywords: Environmental, Social, and Governance Risk, Financial Performance and Systematic Risk