Hulamin Emitting cries of pain
Hulamin and transport and shipping magnates Grindrod have somewhat hurtfully been struck off the JSE’s Socially Responsible Investment Index, the latter because it reported qualitatively rather than quantitatively on emissions from its fleet of ships and trucks – although carbon emissions are not yet a measure on the Index. Grindrod is appealing, and Hulamin hurt, because they feel they are ahead of the pack in some areas, notably empowerment. And Brait, the swashbuckling private equity fellers who were eyeing up Shoprite some time ago, have quit the Index in protest, suggesting that it may have become a forum for cheap shots, quote unquote. In the meantime, some luminaries of the FMCG industry, notably The Clicks Group and Rainbow, have joined the Index.
Comment: The danger with indices like this is that they become a blunt weapon in well-intentioned hands, and a somewhat sharper one in those less well-intentioned. He said cryptically.