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July 3, 2023

Investors still putting profit before people and planet, says ShareAction

Garment factory workers: Non-profit ShareAction’s proposed definition urges institutional investors to “mobilise capital to drive positive impacts that mitigate harms affecting people everywhere”. (Photo by Eyerusalem Jiregna/AFP via Getty Images)
Garment factory workers: Non-profit ShareAction’s proposed definition urges institutional investors to “mobilise capital to drive positive impacts that mitigate harms affecting people everywhere”. (Photo by Eyerusalem Jiregna/AFP via Getty Images)

The UK not-for-profit has criticised the current ‘piecemeal’ approach to responsible investment and is issuing its own definition and guidance. However, investment managers say more clarity on fiduciary duty is needed.

Financial services around the world must take “positive and negative impacts on people and planet as seriously as financial risk and return”, said non-profit ShareAction, as it sought with new guidance to address the financial industry’s “current lukewarm and piecemeal approach” to responsible investment. 

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