Investors and consumers are making more decisions based on ethical considerations and companies will have to change their behavior to catch up with them, an expert warns.
In a recent, high-profile example, Norway's $900 billion sovereign wealth fund last week decided to exclude U.S. utilities company Duke Energy from its fund over concerns about environmental damage.
Similarly, the Fossil Free movement has had some success in pressuring public and private institutions around the world to divest from fossil fuel companies.
In July, the campaign helped to convince the city of Stuttgart in Germany to introduce new guidelines on ethical investing, which will see it divest public money from 75 European companies engaged in coal, oil, gas and fracking.