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Putting Ethics into Environmental Law: Fiduciary Duties for Ethical Investment

Citation

Richardson, BJ, Putting Ethics into Environmental Law: Fiduciary Duties for Ethical Investment, Osgoode Hall Law Journal, 46, (2) pp. 243-291. ISSN 0030-6185 (2008) [Refereed Article]

Abstract

This article argues that environmental law must target the financial sector, which sponsors and profits from environmental pillage. The rise of a system of finance capitalism has made the financial sector a crucial economic sector. A long-standing movement for socially responsible investment (SRI) has recently begun to advocate environmental standards for financiers. While the SRI movement has gained more influence in recent years, it has come at the price of jettisoning its former emphasis on ethical investment in favour of an instrumental, business case approach. Some modest legal reforms to improve the quality and extent of SRI have yet to make a tangible difference. An alternative legal strategy to promote SRI for environmental sustainability is suggested based on reforming the fiduciary duties of financial institutions. Fiduciary duties tied to concrete performance standards such as sustainability indicators provide a way to restore the ethical imperatives of SRI.

Item Details

Item Type:Refereed Article
Research Division:Law and Legal Studies
Research Group:Law
Research Field:Environmental and Natural Resources Law
Objective Division:Environment
Objective Group:Environmental and Natural Resource Evaluation
Objective Field:Environmental and Natural Resource Evaluation not elsewhere classified
Author:Richardson, BJ (Professor Benjamin Richardson)
ID Code:91848
Year Published:2008
Deposited By:Faculty of Law
Deposited On:2014-05-30
Last Modified:2014-05-30
Downloads:0

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