FIDUCIARY DUTY IN THE 21ST CENTURY
Former Vice President and Chairman of Generation Investment Management, Al Gore, introduces PRI, UNEP FI and The Generation Foundation’s Fiduciary duty in the 21st century programme.
The project finds that, far from being a barrier, there are positive duties to integrate environmental, social and governance factors in investment processes.
See www.fiduciaryduty21.org for more details.
Based on interviews with investors, industry associations, lawyers and policymakers in eight countries – Australia, Brazil, Canada, Germany, Japan, South Africa, UK and US – Fiduciary duty in the 21st century concludes that failing to integrate long-term investment value drivers, including ESG issues, in investment practice is a failure of fiduciary duty. It is also available in Portuguese and Japanese.
Among other recommendations, the report finds that progress is needed by institutional investors to engage policymakers on issues relevant to long-term performance, including strengthened corporate reporting.
In March 2016, the PRI, UNEP FI and The Generation Foundation launched a three-year project on investor duties, including:
- publishing and implementing roadmaps on the policy changes required to achieve full integration of ESG issues in investment processes and practices across eight countries;
Download our Australia roadmap
Download our Brazil roadmap, also available in Portuguese
Download our Canada roadmap, also available in French
Download our Germany roadmap, also available in German
Download our Japan roadmap
Download our South Africa roadmap
Download our UK roadmap
Download our US roadmap
- extending the research into fiduciary duties – and, more broadly, investor duties – to six major Asian markets: China, Hong Kong, India, Korea, Malaysia and Singapore. Also available in Chinese;
- working with investors, governments and intergovernmental organisations, to develop an international statement on fiduciary duty (see who has signed our statement) which includes the requirement to integrate ESG issues into investment processes and practices. Also available in Chinese.
- In December 2017, we published a progress report. The report reflects on the changing landscape of fiduciary duty and the progress that has been made to date. We also include details of the project's priorities for 2018 and 2019.
For further details about the fiduciary duty programme, see our fiduciary duty website here: www.fiduciaryduty21.org.