On December 17, 2019 Sustainalytics published a case study about South Africa and ESG risk. It presents “a framework for assessing environmental, social and governance (ESG) risk in South Africa by comparing the country’s ESG risk profile to those of six other countries that, like South Africa, are rated by Moody’s as Baa3. Our analysis identifies key sources of risk for bond investors to consider prioritizing in their monitoring of South Africa, including climate change, unemployment and political stability.”
You may read the case study on the Sustainalytics internet site.