Fiduciary Duty: UK and US roadmaps - launched
London, 19 October 2016. The Principles for Responsible Investment (PRI), The United Nations Environment Program Finance Initiative (UNEP FI) and The Generation Foundation, today announced the launch of US and UK roadmaps, which set out recommendations to fully embed the consideration of Environmental, Social and Governance (ESG) factors in the fiduciary duties of investors in the US and UK capital markets. Underlying the roadmap is the understanding that ESG integration is less a product than it is part of the broader process and technology of investment analysis.
The roadmap builds on the analysis set out in Fiduciary Duty in the 21st Century published in September 2015 and draws on over 30 interviews in the US and 30 interviews in the UK with asset owners, investment managers, industry service providers and academics. It provides commentary on recent developments in fiduciary duty and sets out the business case for ESG integration. The roadmap addresses fiduciary training, corporate reporting, asset owner interaction with service providers, legal guidance, the development of investment strategies, ESG disclosure and governance structures. The roadmap also sets out suggestions for institutional investor best-practice in the US and UK markets.
The PRI will publish roadmaps in 8 markets: Australia, Brazil, Canada, Germany, Japan and South Africa, as well as US and UK.
Additionally, we've extended the analysis of Fiduciary Duty in the 21st Century to six Asian markets (China, Hong Kong, India, Korea, Malaysia and Singapore), to download, please click here.
In line with the objectives of the roadmaps is the Global Statement on Investor Obligations and Duties. The PRI encourages signatories to sign the statement through our website. The purpose of the statement is to give governments the confidence to act, providing international and national clarity on the extent to which ESG factors should be incorporated into investment decision making. It is supported by over 60 investors to date, to view the complete list, click here.
For further information, email email@example.com.
About the Principles for Responsible Investment (PRI)
The United Nations-supported Principles for Responsible Investment (PRI) Initiative is an international network of investors working together to put the six Principles for Responsible Investment into practice. Its goal is to understand the implications of sustainability for investors and support signatories to incorporate these issues into their investment decision making and ownership practices. In implementing the Principles, signatories contribute to the development of a more sustainable global financial system.
About UNEP FI
The United Nations Environment Programme Finance Initiative (UNEP FI) is a public-private partnership established between the United Nations Environment Program (UNEP) and the financial sector. It counts over 200 members among leading banks, investment funds, and insurance companies. The UNEP FI seeks to encourage the better implementation of sustainability principles at all levels of operations in financial institutions, namely through the incorporation of environmental, social and governance factors (or ESG) in risk analyses - a concept it pioneered in the 1990s.
About the Generation Foundation
The Generation Foundation ('The Foundation') is the advocacy initiative of Generation Investment Management ('Generation'), a boutique investment manager founded in 2004.
The Foundation was established alongside Generation in order to strengthen the case for Sustainable Capitalism. Its strategy in pursuit of this vision is to mobilise asset owners, asset managers, companies and other key participants in financial markets in support of the business case for Sustainable Capitalism, and to persuade them to allocate capital accordingly.