Which of the following is NOT one of the channels of impact used in sustainability valuation analysis?

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Channels of impact in sustainability valuation analysis describe the levers by which ESG performance can alter a company’s future cash flows and risk profile. These typically include effects on revenue growth, operating margins, capital efficiency and working capital needs, and the cost of capital (which affects the discount rate). Growth projections, cost of capital, and book value align with these levers because they reflect how sustainability can influence demand, risk and financing, and the asset base or impairment risk. Inventory turnover is a specific operational metric that indicates how efficiently inventory is managed and how it affects working capital, but it’s not a standalone channel of impact used to translate sustainability into valuation. It would more likely be considered a detail within the working capital area rather than a primary channel.