PRI responds to UK law commission consultation on fiduciary duty
LONDON, 22 January 2014
The Principles for Responsible Investment (PRI) Initiative today provided a response to the UK Law Commission’s Consultation on Fiduciary Duty of Investment Intermediaries.
“The PRI Initiative welcomes the UK Law Commission’s review of fiduciary duty and hopes that the analysis itself contained in the review provides some clarity to investors on their ability to consider ESG factors in their decision making. We have also provided a variety of evidence-based material, taken from the PRI’s unique global experience in this field, to the Law Commission for their consideration. For signatories of the PRI, who have agreed that ESG factors are key risks over the length of their investment horizon, this review is crucial” said Helene Winch, Director of Policy and Research, PRI.
A copy of the response is available for download here.
About the Principles for Responsible Investment
The Principles for Responsible Investment Initiative (PRI) is a network of international investors working together to put the six Principles for Responsible Investment into practice. The Principles were devised by the investment community. They reflect the view that environmental, social and corporate governance (ESG) issues can affect the performance of investment portfolios and therefore must be given appropriate consideration by investors if they are to fulfil their fiduciary (or equivalent) duty. The Principles provide a voluntary framework for all investors to incorporate ESG issues into their decision-making and ownership practices and so better align their objectives with those of society at large.