It is always surprising how quickly attitudes change. When I was at university, cigarette companies produced sexy advertisements showing beautiful people skiing or sailing while smoking. Fast forward to 2019 and even people smoking on the street are now frowned on.

In 2008 environmental, social and governance (ESG) issues were seen by many in financial markets as, at best, a good marketing angle, or at worst a waste of time. Now conditions have shifted dramatically...

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