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Jenni McManus
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Nadia Lim comments throw ESG into sharp relief

Tuesday 10th of May 2022

The funds management industry is divided on how best to respond to last week’s furore involving celebrity chef Nadia Lim and DGL Group CEO Simon Henry. 

At issue: is the making of deeply offensive and derogatory remarks by the CEO of a listed company a matter of responsible or ethical investing? Does it stray into ESG territory? Is it part of the social licence to operate? Or is it simply poor behaviour, requiring strong censure from the board but no other business consequences?

Many fund managers last week opted to place DGL on their exclusion lists amid the firestorm over Henry’s offensive and sexist comments about Lim, a co-founder and director of My Food Bag.

Kiwi Wealth, Generate and Simplicity were quick to blacklist DGL, saying Henry’s behaviour raised serious ESG red flags though none currently holds DGL shares. Kiwi Wealth said DGL would remain blacklisted until there was change in the senior leadership team.

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