David Shapiro’s article forms part of the growing chorus of calls for the investment community to take sustainability related matters seriously (“Australia fires raise environmental, social and governance issues (https://www.businesslive.co.za/bd/opinion/columnists/2020-01-09-david-shapiro-australia-fires-raise-environmental-social-and-governance-issues/)”, January 9).

However, in concluding his article he made a startling and implausible statement: “For responsible investors, the growing demands of ESG activists should have little effect on performance.” ..

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