John Berry, Pathfinder
Responsible investors can be forgiven for experiencing more than a little schadenfreude over Johnson & Johnson's tumble on US markets before Christmas.
The US healthcare giant saw more than $54 billion wiped from its sharemarket value in a single day following reports that it knew batches of its iconic baby powder were contaminated with asbestos, a known carcinogen. And since then the rout has continued.
But for responsible investors, those that consider a company's environmental, social and governance (ESG) performance alongside traditional financial measures such as revenue growth, profit, loss and balance sheet strength, the reports contained nothing new.