EU: Commission launches public consultation on institutional investors & asset managers' duties regarding sustainability, incl. human rights
Author: European Commission, Published on: 14 November 2017
In its interim report, published in July 2017, the High Level Expert Group on sustainable finance recommended the Commission to clarify that the fiduciary duties (duties of loyalty and prudence) of institutional investors and asset managers explicitly integrate material environmental, social and governance (ESG) factors and long term sustainability. The aim of this public consultation is to collect the views and opinions of interested parties on this issue in order to inform the impact assessment process... Social issues relate to rights, well-being and interests of people and communities including human rights, labour standards, health and safety, relations with local communities, activities in conflict zones, health and access to medicine, consumer protection; and controversial weapons.