ABSTRACT
The governance of socially responsible investing (SRI) has become in many jurisdictions inseparable from the fiduciary law context. This is because investment decisions are often made where the principal parties are in a fiduciary relationship. This contrasts to situations where individuals or organizations manage their own investments, without reliance on a trustee or other type of intermediary. When someone manages investments on behalf of others, as occurs with the trustee or fund manager of a pension plan, these intermediaries likely have fiduciary obligations to invest prudently in the best interests of the fund’s beneficiaries. This legal framework may constrain or facilitate SRI, depending on the type of fund, its investment strategy and other variables
