Sustainable investing takes root with shift to greener ethos

As global warming and climate change accelerate, the need to ensure that human development is environmentally sustainable is an accepted imperative requiring fundamental change to the way we live — including how and what we consume, how we earn an income to fund our consumption and how we invest for the future.

Whereas historically financial markets were dominated by the profit maximisation approach, there is a growing support for consideration of ESG factors in investment decisions — hence the growing prevalence of words such as social return, impact investing, triple bottom line and sustainable development goals.

Because sustainability concerns have a growing influence over the allocation of capital, companies need to adhere to sound ESG principles to maintain institutional investor interest. The Global Sustainable Investment Alliance estimates that about $30.7-trillion in global assets were allocated to sustainable investing at the start of 2018, which represents growth of 34% in two years.

In the end shareholders voted down the resolution, which would have required Standard to report climate risk in its activities, though it received support from 38% of shareholders. A number of institutional investors backed the proposal, including Old Mutual Investment Management and Mergence Investment Managers.

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