We Are Guernsey has produced a new report on fiduciary duty and the position of Guernsey’s practitioners in respect of intertwining ESG principles and fiduciary duty appropriate for the 21st century.
In 2019, the United Nations Environment Programme Finance Initiative, and the Principles for Responsible Investment concluded that failing to consider long-term investment value drivers – which include environmental, social and governance issues – in investment practice is a failure of fiduciary duty.
The report showcases the importance of modernising fiduciary duty across the globe, and the ways in which Guernsey, as a centre of green and sustainable finance, has been working to do so.
These include the construction of institutional frameworks, the development of appropriate fiduciary products and services and aligning key stakeholders with the cause of climate finance.
As well as discussing the island’s successful strategies, the report explores any perceived barriers to the adoption of an ESG investment strategy by fiduciaries in the context of the legal framework for fiduciary duty.
• To view the report click here