In September last year, a scandal came to light that beggared belief, partly because of the sheer scale of it.

Employees of US bank Wells Fargo had created millions of bank accounts, complete with lines of credit, without the consent of the customers....

...Situations like this illustrate why the NZ$32 billion New Zealand Super Fund firmly believes that environmental, social and corporate governance (ESG) issues do impact investment returns and downside risk over the long term.