The space industry is attracting private organisations, leading to new business models, increased efficiency and significant contributions from private capital. Space agencies are also reducing public funding of space missions and privatising more risky processes. Despite the growing popularity of ESG (Environmental, Social, and Governance) criteria and investments in the New Space Economy, there is a lack of research on incorporating ESG metrics relevant to the unique requirements, risks, and opportunities of space ventures. Investors in this innovative industry have ethical responsibilities and it is worth investigating whether companies that adhere to ESG criteria show different risk-return profiles compared to market benchmarks. Investors in the New Space Economy employ various fund allocation strategies. This book analyses how these strategies reflect the perceived level of risk associated with investments in space-focused companies that align with ESG criteria.