A quiet shift in global capital markets is exposing a growing gap in South African boardrooms. ESG is no longer primarily a question of reputation or reporting.

\A QUIET shift in global capital markets is exposing a growing gap in South African boardrooms. ESG is no longer primarily a question of reputation or reporting. It is becoming a mechanism for pricing risk and determining access to capital.

Many boards have not fully adjusted to that change.

For years, ESG sat comfortably in sustainability reports, often delegated to specialist functions and discussed in annual disclosures. It was important, but peripheral. That framing is now outdated.

ESG is moving into capital allocation.