All Fiduciary duty articles – Page 2
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Thought leadershipFiduciary duty in the 21st century: France roadmap
The Fiduciary Duty in the 21st Century programme – launched by the Principles for Responsible Investment (PRI), the United Nations Environment Programme Finance Initiative (UNEP FI) and The Generation Foundation – collaborated with Finance for Tomorrow to publish a France roadmap for sustainable finance, setting out recommendations for institutional investors ...
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Thought leadershipUntangling the stakeholder chain: strategies and recommendations
Untangling the chain of stakeholder interests and incentives requires connecting the business objectives of plan sponsors with the growing demand for ESG incorporation by plan beneficiaries, while working within the fiduciary duty requirements of ERISA.
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Thought leadershipThe ERISA stakeholder chain
The ERISA retirement system brings together distinct stakeholders with diverse incentives and objectives. These range from the plan sponsors to pension consultants to the investment managers, independent advice providers and, ultimately, the plan beneficiaries.
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Thought leadership
Shifting ERISA ESG policy: from collateral to integral
Unlike public pension plans, private-sector retirement plans (including both DC and DB plans) must maintain compliance with ERISA regulations, specifically the fiduciary requirements, when selecting investment options.
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Thought leadershipERISA plans and ESG incorporation: trends in the US pension market
The overall trend in US private sector pension provision is one of risk transfer from corporate plan sponsors to the beneficiaries, with companies seeking to avoid the long-term pension liabilities inherent in the DB plan structure. Corporate DB plans are closing to new members and converting pension provision to defined ...
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Thought leadershipFrom marginal to mandatory: The evolution of ERISA fiduciary duty and ESG incorporation
The attitudes of ERISA plan sponsors toward the incorporation of ESG factors into their plans have followed stages that have reflected the PRI’s approach to the US market. Each stage has required distinct approaches, arguments and strategies.
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Thought leadershipUntangling stakeholders for broader impact: ERISA plans and ESG incorporation
The US accounts for the largest share of pension assets globally. Increasingly, US investors are incorporating ESG factors into their investment decisions.
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Thought leadership
The SDGs are the globally agreed sustainability framework
Not taking account of the SDGs could jeopardise comprehensive fulfilment of investors’ fiduciary duty.
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Thought leadershipL'obligation fiduciaire au 21e siècle: feuille de route pour le Canada
Selon le rapport Fiduciary duty in the 21st century ne pas considérer tous les facteurs générateurs de valeur d’investissement à long terme, notamment les critères environnementaux, sociaux et de gouvernance (ESG), équivaut à ne pas remplir son devoir fiduciaire.
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PRI Web Page
Global statement on investor obligations and duties: explanatory notes
In January 2016, the Principles for Responsible Investment (PRI), the United Nations Environment Programme Finance Initiative (UNEP FI) and The Generation Foundation launched a three year project to clarify investors’ obligations and duties in relation to the integration of environmental, social and governance issues in investment practice and decision-making. This ...
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PRI Web Page
Global statement on investor obligations and duties: FAQs
What is the statement? The Statement calls on international policymakers and national governments to clarify the obligations and duties of investors and other organisations in the investment system. It calls, specifically, for governments to clarify that investors and other organisations in the investment system must act with due care, skill ...
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PRI Web Page
Global statement on investor obligations and duties: supporting quotes
I fully support PRI and UNEP FI’s efforts to make financial flows consistent with the needed limitation of greenhouse emissions and the financing of climate resilient development. Michel Sapin, Minister of Finance, France Sustainability is an important factor in the long-term success of a business. Therefore as ...
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PRI Web PageGlobal statement on investor obligations and duties
The Global statement on investor obligations and duties calls on international policymakers and national governments to clarify the obligations and duties of investors and other organisations in the investment system.
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Academic researchRI Quarterly Vol. 2: Fiduciary duty
In this second volume of the PRI Academic Network’s RI Quarterly we focus on the issue of fiduciary duty.
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Blog post
The basis of fiduciary duty in investment in the United States
In this paper Youngdahl outlines the history and development of the concept of fiduciary duty in the United States.
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Blog post
The role of investment tools, investment beliefs and industry convention in changing interpretations of fiduciary duty
This paper examines how investment tools, beliefs and industry conventions impact the interpretation of fiduciary duty in the investment industry.
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Blog post
The voice of the beneficiary
Berry and Scanlan argue that beneficiaries should be consulted on the general policies of their pension fund, and that trustees should take their wishes into account when making investment decisions.
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Blog post
The public fiduciary: a Canadian perspective
In this paper Waitzer and Sarro examine the role of pension fund trustees in Canada, and how the Supreme Court of Canada has developed a framework for fiduciary duty that has adapted to changing social and governance challenges.
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Blog post
Fiduciary duty and the search for a shared conception of sustainable investment
This paper reviews the historical legal background to the evolution of fiduciary duty in the UK, with reference to the parallel evolution of the concept in the US.
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Blog post
Fiduciary duty and sin stocks: is vice really nice?
This paper investigates whether fiduciary duty obliges pension fund trustees to invest over-proportionally in ‘sin stocks’, i.e. companies operating in sectors traditionally considered unethical such as tobacco, alcohol, gambling and defence.
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