Underlying Index Performance: The primary driver is the performance of the MSCI Europe ESG Leaders Index, which ESGE.PA tracks. Higher index values generally lead to higher ETF prices.

Supply and Demand: Increased demand for ESGE.PA shares pushes the price up, while higher selling pressure leads to a lower price. Market sentiment influences this.

Expense Ratio: ESGE.PA's management fees impact its overall return. Higher fees can slightly reduce returns, indirectly affecting the price.

Currency Fluctuations: As ESGE.PA invests in European stocks, Euro-related currency changes can impact its price, especially for non-Euro investors.

ESG Factors: Investor interest in ESG (Environmental, Social, and Governance) investing can affect demand. Increased ESG focus can drive up demand and the price.

Interest Rates: Changes in interest rates, particularly in the Eurozone, can influence investor appetite for equities and thus, ESGE.PA's price.

Economic Conditions: Overall economic health in Europe significantly affects company earnings within the index, ultimately influencing the ETF's price.