The UK not-for-profit has criticised the current ‘piecemeal’ approach to responsible investment and is issuing its own definition and guidance. However, investment managers say more clarity on fiduciary duty is needed.
Financial services around the world must take “positive and negative impacts on people and planet as seriously as financial risk and return”, said non-profit ShareAction, as it sought with new guidance to address the financial industry’s “current lukewarm and piecemeal approach” to responsible investment.
However, Eleanor Fraser-Smith, head of sustainability at UK-based investment manager Victory Hill Capital Partners, was doubtful ShareAction’s proposed definition would clarify the meaning of responsible investment.
Opening-up energy access to cater for increasing demand and population growth