Fiduciary Law and Responsible Investing


Book Description

This book is about fiduciary law’s influence on the financial economy’s environmental performance, focusing on how the law affects responsible investing and considering possible legal reforms to shift financial markets closer towards sustainability. Fiduciary law governs how trustees, fund managers or other custodians administer the investment portfolios owned by beneficiaries. Written for a diverse audience, not just legal scholars, the book examines in a multi-jurisdictional context an array of philosophical, institutional and economic issues that have shaped the movement for responsible investing and its legal framework. Fiduciary law has acquired greater influence in the financial economy in tandem with the extraordinary recent growth of institutional funds such as pension plans and insurance company portfolios. While the fiduciary prejudice against responsible investing has somewhat waned in recent years, owing mainly to reinterpretations of fiduciary and trust law, significant barriers remain. This book advances the notion of ‘nature’s trust’ to metaphorically signal how fiduciary responsibility should accommodate society’s dependence on long-term environmental well-being. Financial institutions, managing vast investment portfolios on behalf of millions of beneficiaries, should manage those investments with regard to the broader social interest in sustaining ecological health. Even for their own financial self-interest, investors over the long-term should benefit from maintaining nature’s capital. We should expect everyone to act in nature’s trust, from individual funds to market regulators. The ancient public trust doctrine could be refashioned for stimulating this change, and sovereign wealth funds should take the lead in pioneering best practices for environmentally responsible investing.




Business and Human Rights


Book Description

This unique collection gathers together important instruments dealing with the relationship between business and a range of topics such as labour rights, security issues, environmental protection, anti-corruption, good governance, poverty alleviation and development, which all have important human rights dimensions. The premise for the collection is that business has both the responsibility and the opportunity to respect and support human rights. Selected instruments cover various stages of business involvement with human rights issues, spanning codes of conduct, monitoring, reporting, certification, lables and partnerships for development. Initiatives of institutional investors, social index providers, insurers, and banks are also covered. Websites for each instrument and its issuer are provided in order to facilitate updates and further inquiry into the issuer's activities. The introduction seeks to offer a perspective for examining voluntary initiatives and corporate social responsibility, one of today's most controversial human rights topics.




The Political Economy of the Company


Book Description

Theoretical writing on the company and company law has been dominated in recent years by economics. This collection of essays by a distinguished team of authors drawn from a variety of disciplines seeks to build on the insights of this economic analysis and broaden understanding by examining the company in a wider historical,legal, political, and sociological context. Issues discussed include the attitudes of political parties in the UK to the company, the rise of the non-executive director, institutional activism and stakeholder protection, and the evolution of the nexus of contracts theory of the company. There is also a strong comparative theme, with discussions of the political and sociological context of corporate governance in France, Germany, and Japan, together with developments at the European level.




Socially Responsible Investment Law


Book Description

Environmental harm is commonly associated with companies that extract, consume, and pollute our shared natural resources. Rarely are the 'unseen polluters,' the financiers that sponsor and profit from eco-damaging corporations, placed at the forefront of the environmental debate. By focusing on these unseen polluters, Benjamin Richardson provides a comprehensive examination of socially responsible investment (SRI), and offers a guide to possible reform. Richardson proposes that greater regulatory supervision of SRI will help ensure that the financial sector prioritizes ethically-based investments. In Socially Responsible Investment Law, he suggests that new governmental reforms should encourage companies to participate in socially responsible investments by providing a better mix of standards and incentives for SRI through measures that include redefining the fiduciary responsibilities of institutional investors to incorporate environmental concerns. By doing so, Richardson posits that corporate financiers, including banks, hedge funds, and pension plans, will become more accountable to the goals of ensuring sustainable development.




The Oxford Handbook of Corporate Social Responsibility


Book Description

Business schools, the media, the corporate sector, governments, and non-governmental organizations have all begun to pay more attention to issues of Corporate Social Responsibility (CSR) in recent years. These issues encompass broad questions about the changing relationship between business, society and government, environmental issues, corporate governance, the social and ethical dimensions of management, globalization, stakeholder debates, shareholder and consumer activism, changing political systems and values, and the ways in which corporations can respond to new social imperatives. This Oxford Handbook is an authoritative review of the academic research that has both prompted, and responded to, these issues. Bringing together leading experts in the area, it provides clear thinking and new perspectives on CSR and the debates around it. The Handbook is divided into seven key sections: * Introduction, * Perspectives on CSR, * Critiques of CSR, * Actors and Drivers, * Managing CSR, * CSR in Global Context, * Future Perspectives and Conclusions.




The Future of Labour Law


Book Description

This book, by an internationally distinguished group of scholars, examines the future of labour law from a wide variety of perspectives.




Reform of UK Company Law


Book Description

With the completion of the DTI-sponsored Company Law Review, the reform of company law has now become a very important subject of study. This new book is a must for all those interested in the development and reform of UK company law. The book collates the work of leading authorities on company law, including members of the judiciary and the Law Commission, and individuals from the worlds of professional practice and academia. All main areas of company law are covered, including directors' duties; corporate governance; minority protection; ultra vires; company charges; and human rights and the company, as well as a comprehensive analysis of the work of the Company Law Reform Steering Group. The central purpose of this book is to analyze the current state of play and to note, in particular, the work of the Company Law Review Group. Critical analysis and suggestions on how company law should be reformed are also offered.




Responsible Business


Book Description

With the globalisation of markets, the phenomenon of market failure has also been globalised. Against the backdrop of the territoriality of nation state jurisdictions and the slow progress of international law based on the principle of sovereignty this poses a serious challenge. However while the legal infrastructure of globalised markets has a firm basis in formal national and international law, the side effects of economic transactions on public goods such as the environment, human health and consumer interests often escape state-based regulation. Therefore, attention is drawn to the potential of self-regulation by transnational industry. While hypotheses abound which try to grasp this phenomenon in conceptual terms, both empirical and legal research is still underdeveloped. This volume helps to fill this gap, in two ways: firstly by reconstructing self-regulatory settings such as multinational corporations, transnational production networks and industry-NGO partnerships in terms of organisation, problem-solving and legitimation, and secondly, by linking their empirical findings to formal law by examining how legal concepts are reflected in self-regulation, how the law builds on self-regulatory solutions, and how it helps to establish favorable conditions for private governance.




Finance and Sustainability


Book Description

Drawing on the movements of corporate social responsibility, socially responsible investing and sustainable development, this title examines the making of financial reality towards social responsibility and sustainability, and offers an understanding of finance as a collective construct and endeavour embedded in societal context.