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Last week this newspaper printed a scathing letter from Just Share executive director Tracey Davies on the apparent endorsement of “vested interests in the fossil fuel industry” (“Vacillating climate change stance is confusing (https://www.businesslive.co.za/bd/opinion/letters/2022-05-08-letter-vacillating-climate-change-stance-is-confusing/)”, May 8). It was in reference to the praise heaped on SA asset managers climbing back aboard the coal investment train as a result of Thungela’s resurgent share price.

Davies was in no way wrong to have done so, but her letter stopped short of unpacking just how disappointing corporate action on climate change in SA has been on the whole. In February, I wrote a column highlighting asset managers’ lacklustre performance as reviewed in Just Share’s SA asset manager climate risk survey, but the apathy that is apparent in the financial services sector is mirrored in corporates across the board...

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