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| Tekijä: | Sandberg, J. |
| Otsikko: | Socially responsible investment and fiduciary duty: putting the Freshfields report into perspective |
| Lehti: | Journal of Business Ethics
2011 : JUN, VOL. 101:1, p. 143-162 |
| Asiasana: | social responsibility investments institutional investors pensions profitability |
| Kieli: | eng |
| Tiivistelmä: | A major issue for the future of socially responsible investment (SRI) is whether institutional investors are legally allowed to engage in it - in particular whether it is consistent with the fiduciary duties of trustees. An ambitious report from the United Nations Environment Programme's Finance Initiative (UNEP FI), commonly referred to as the 'Freshfields report', has recently caused considerable optimism on this issue among advocates of SRI. This article puts the arguments of the Freshfields report into a more empirical and critical perspective, however, and suggests that its results are not very cheering. If SRI is to become a significant actor for corporate social responsibility through its adoption by institutional investors, then, it is proposed that legal reform is needed. |
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