| Description |
1 online resource (347 pages) |
| Series |
Routledge Research in Finance and Banking Law |
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Routledge research in finance and banking law.
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| Contents |
Cover; Half Title; Title Page; Copyright Page; Table of Contents; Acknowledgements; Abbreviations; 1. Responsible investing in an unsustainable world; Fiduciary finance for the wealth of the planet; The global fi nancial and ecological crises: nature doesn't do bailouts; A damp squib: environmental law and the conflicted state; What is responsible investment?; Historical evolution; Philosophical approaches to RI; Sustainability; Legal structures for RI values; Method, plan and terminology of the book; 2. The influence of responsible investment; Introduction; Size of the RI market |
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RI's financial rationaleAltering the cost of finance; Corporate engagement; Shareholder activism and dialogue; Current patterns of engagement; Legal context to engagement; Creditors' engagement; RI codes of conduct and investor collaboration; Collective action barriers to RI; RI codes; Equator Principles; UN Principles for Responsible Investment (UNPRI); UNEP-FI and other multi-stakeholder regimes; Public policy and legal reforms; Conclusions; 3. Fiduciary finance law; Social responsibility or fiduciary folly?; Evolution of fiduciary law and trusts; Financial actors' fiduciary responsibil |
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Ascertaining fiduciary relationshipsFiduciary responsibilities in institutional contexts; Obey governing documents; Duty of loyalty; Duty of impartiality; Duty of care and prudence; Evolution of the prudent investment standard; Consequences for RI; Liability and remedies; Fiduciary-like responsibilities in civil law systems; Statutory reform of relevance to RI; Conclusions; 4. Fiduciary law in retail and institutional finance; Introduction; Rise of institutional investors; Obstacles to responsible finance; Short-termism; Systemic market risks; Pension funds |
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Institutional characteristics and fiduciary responsibilitiesPension fund investment disclosure rules; Involvement of beneficiaries in fund governance; Policy considerations; Legal reforms to democratize pension fund governance; Charitable 'mission-based' investors; Financial corporations: fiduciary responsibility and enlightened shareholder value; Fiduciary law and governance of banks; Regulation of banks for responsible finance; Fiduciary responsibility of banks; Banks' duty of care; Insurance companies; Retail funds; RI's fungible and cosmetic standards; Fiduciary law in retail funds |
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Mutual fund governance and investor passivityDisclosure of RI policies and practices; Disclosure standards; Financial advisers; Conclusions; 5. Sovereign wealth funds; The ethical and financial mandates of SWFs; Responsible investment by public financial institutions; US state and municipal funds; Swedish AP funds; Australian Future Fund; Other examples; Norwegian Government Pension Fund-Global (NGPF-G); Institutional and legal structure; An ethical investment mission; NGPF-G's revised ethical guidelines; Norwegian RI practices; New Zealand Superannuation Fund (NZSF) |
| Summary |
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 |
| Notes |
Legislative and institutional framework |
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Print version record |
| Subject |
Investments -- Law and legislation.
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Investments -- Moral and ethical aspects.
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Trusts and trustees -- Philosophy
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Financial institutions -- Investments.
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Sustainability -- Economic aspects
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LAW -- Administrative Law & Regulatory Practice.
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Financial institutions -- Investments
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Investments -- Law and legislation
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Investments -- Moral and ethical aspects
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| Form |
Electronic book
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| ISBN |
9781135941062 |
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1135941068 |
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