When companies cause harm to the environment, inflict injury on workers, or commit financial fraud, we're used to seeing directors, managers, advisers or regulators come under scrutiny. By contrast, shareholders have been relatively safe from criticism or condemnation in the eyes of the law and conventional morality.

Are shareholders passive agents whose interests start and end with dividends, or do they have a responsibility to drive ‘principled profit’ in the context of environmental, social and governance (ESG) issues?