This paper compiles analyses undertaken over many years on the financial benefits of managing ESG risks and opportunities. This report includes academic studies, specific research studies and meta studies, research from investment or governance advisors and insights into the systemic risks sustainability issues can cause. 
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Sustainability issues are linked to long-term value

Financially material sustainability issues may impact investment outcomes in many ways, including through governance failures, poor risk management or questionable capital allocation decisions.  Many global studies demonstrate the financial relevance of sustainability issues both collectively and in relation to individual issues. Some assess a particular scenario or sustainability factor, while others are meta studies, which consider the results of multiple individual studies to reach overall conclusions about the financial impact of sustainability issues. Overall, the evidence supports sustainability issues being financially material and their incorporation into investment practice. While some studies do not support the same conclusions, there are fewer of them. Evidence also points to investor engagement with companies on sustainability issues being financially beneficial, reinforcing this as a key approach to protecting and enhancing value for superannuation members.