In 2016, we began working with the Principles for Responsible Investment (PRI) and the United Nations Environment Programme Finance Initiative (UNEP FI) on a new project, Fiduciary Duty in the 21st Century. This project sought to clarify that fiduciary duty dictates that investors must factor material environmental, social and governance issues into their investment processes.
The project produced several global and jurisdiction-focused reports that outlined the barriers and opportunities for investors to uphold the full remit of their fiduciary duty in each jurisdiction.
Each report made recommendations for overcoming those barriers, and project teams within PRI and UNEP FI worked with key players in those jurisdictions to clear a path for integration of ESG as standard practice for investors.
Visit our page on A Legal Framework for Impact, a new project with PRI and UNEP FI, which moves beyond integration of ESG in investment processes and looks at investors’ obligations with regard to the impact of their activities.