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Putting Sustainable Investing into Practice: A Governance Framework for Pension Funds

Journal of business ethics, 2010-01, Vol.92 (Suppl 1), p.1-19 [Peer Reviewed Journal]

2010 Springer ;Springer Science+Business Media B.V. 2010 ;ISSN: 0167-4544 ;EISSN: 1573-0697 ;DOI: 10.1007/s10551-010-0631-x ;CODEN: JBUEDJ

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Title:
Putting Sustainable Investing into Practice: A Governance Framework for Pension Funds
Author: Woods, Claire ; Urwin, Roger
Subjects: Agricultural production ; Business and Management ; Business Ethics ; Decision making ; Education ; Ethics ; fiduciary duty ; Fiduciary responsibility ; Financial investments ; institutional investment ; Institutional investments ; intergenerational equity ; Investment analysis ; investment beliefs ; Investment decisions ; Investment funds ; Investment policy ; Investment risk ; Investment strategies ; investment strategy ; Investments ; Literature reviews ; Management ; pension fund governance ; Pension funds ; Pensions ; Perceptions ; Philosophy ; Quality of Life Research ; Socially responsible investing ; Sustainability ; Sustainable economies ; United Kingdom ; United States
Is Part Of: Journal of business ethics, 2010-01, Vol.92 (Suppl 1), p.1-19
Description: This article presents a framework intended to provide pension funds with practical guidance for the successful implementation of a sustainable investing strategy. The framework is developed with respect to the UK and US pension funds (as these share certain common legal characteristics) and focuses on the changes that pension funds adopting such a strategy should make to their investment strategies and governance (particularly through the formulation and articulation of clear investment mission and strong investment beliefs). The article proceeds with a review of socially responsible investment (SRI) and more recent responsible investment (RI) literature, in the context of growing public awareness (but not necessarily understanding) of the concept of sustainability ("Literature review of SRI field: SRI, RI and sustainable investing" section). It then examines the literature on pension fund governance, arguing the need for more detailed practical guidance for funds moving towards sustainable investing, especially for those implementing a sustainable investing strategy ("Anglo-American pension fund governance" section). It presents the framework for the practical implementation of sustainable investing in the "Sustainable investing framework" section. Finally, we review the relevant Anglo-American legal backdrop, outlining how pension funds adopting our framework should approach their fiduciary obligations, and then discussing potential regulatory enablers of sustainable investment ("Legal context: barriers to and enablers of sustainable investing" section).
Publisher: Dordrecht: Springer
Language: English
Identifier: ISSN: 0167-4544
EISSN: 1573-0697
DOI: 10.1007/s10551-010-0631-x
CODEN: JBUEDJ
Source: ProQuest One Psychology
Alma/SFX Local Collection
RePEc
ProQuest Central

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Putting Sustainable Investing into Practice: A Governance Framework for Pension Funds

2010 Springer ;Springer Science+Business Media B.V. 2010 ;ISSN: 0167-4544 ;EISSN: 1573-0697 ;DOI: 10.1007/s10551-010-0631-x ;CODEN: JBUEDJ

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