UNEP FI Asset Management Working Group The - UNEP Finance ...

and engagement among asset managers” despite the fact that many signatories have
some way to go on its’ implementation.
The report saves its most incisive assertion for last: “Some have argued that the ongoing
financial crisis may not have been so deep or so protracted if institutional investors had
been collectively willing to challenge the financial institutions that were at the heart of
creating the systemic risks within the financial system. We also believe that one of the
most important lessons from the crisis is that institutional investors’ responsible
ownership needs to be strengthened in order to be fit for purpose”.
Much lip service has been paid to the importance of integrating ESG into investment
processes. This report importantly raises the bar from ESG integration being a ‘nice to
have’ to the point of becoming an integral part of legal fiduciary responsibility and
fitness for purpose of investment ownership strategy.
‘Fiduciary responsibility: Legal and practical aspects of integrating environmental,
social and governance issues into institutional investment’
Freshfields Report
UN PRI
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