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Fiduciary Law and Responsible Investing - In Nature's trust (Paperback)
Loot Price: R1,363
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Fiduciary Law and Responsible Investing - In Nature's trust (Paperback)
Series: Routledge Research in Finance and Banking Law
Expected to ship within 12 - 17 working days
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This book is about fiduciary law's influence on the financial
economy's environmental performance, focusing on how the law
affects responsible investing and considering possible legal
reforms to shift financial markets closer towards sustainability.
Fiduciary law governs how trustees, fund managers or other
custodians administer the investment portfolios owned by
beneficiaries. Written for a diverse audience, not just legal
scholars, the book examines in a multi-jurisdictional context an
array of philosophical, institutional and economic issues that have
shaped the movement for responsible investing and its legal
framework. Fiduciary law has acquired greater influence in the
financial economy in tandem with the extraordinary recent growth of
institutional funds such as pension plans and insurance company
portfolios. While the fiduciary prejudice against responsible
investing has somewhat waned in recent years, owing mainly to
reinterpretations of fiduciary and trust law, significant barriers
remain. This book advances the notion of 'nature's trust' to
metaphorically signal how fiduciary responsibility should
accommodate society's dependence on long-term environmental
well-being. Financial institutions, managing vast investment
portfolios on behalf of millions of beneficiaries, should manage
those investments with regard to the broader social interest in
sustaining ecological health. Even for their own financial
self-interest, investors over the long-term should benefit from
maintaining nature's capital. We should expect everyone to act in
nature's trust, from individual funds to market regulators. The
ancient public trust doctrine could be refashioned for stimulating
this change, and sovereign wealth funds should take the lead in
pioneering best practices for environmentally responsible
investing.
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