Fiduciary Duty




Working Group:

IEN's Fiduciary Duty & Policy Working Group 


Journal Articles & White Papers:

Commentary: Fiduciary duty yellow flags for proxy season | Pensions & Investments, Keith Johnson, Susan Gary, and Cynthia Williams, April 2018 

Best Interests in the Long Term: Fiduciary Duties and ESG Integration | Social Science Research Network, Susan N. Gary, University of Oregon, February 2018

Fiduciary Duty in the 21st Century Progress Report l  Principles for Responsible Investment,  United Nations Environment Program Finance Initiative and The Generation Foundation, December 2017 

Understanding and applying fiduciary duty: The trustee best practice guide | UK SIF, April 2017

Leading Practice Briefing on Fiduciary Duties for Endowments and Foundations | Intentional Endowments Network, prepared by Megan Jackson and Keith Johnson at Reinhart Boerner Van Deuren s.c., February 2017

DOL Updates Guidance on Proxy Voting and ESG l Reinhart Boerner Van Deuren s.c., January, 2017 

Fiduciary Duty, Divestment, and Fossil Fuels in an Era of Climate Risk l Trillion Dollar Transformation and the Center for International Environmental Law, December, 2016

A Guide to Climate Change Investment Risk Management for US Public Defined Benefit Plan Trustees l Trillion Dollar Transformation & Mercer Investment Consulting

Fiduciary Duty in the 21st Century U.S. Roadmap l Principles for Responsible Investment,  United Nations Environment Program Finance Initiative and The Generation Foundation, September 2015

Tips for Charitable Organizations to Consider When Hiring Consultants l Reinhart Attorneys at Law, August, 2016

Values and Value: University Endowments, Fiduciary Duties, and ESG Investing l Susan N. Gary (University of Oregon), Journal of College and University Law, August, 2016

Addressing ESG Factors Under ERISA l Principles for Responsible Investment, February 2016

Fiduciary Duty and Environmental Responsibility: Crafting a Low Carbon Response l William F. Jarvis, Commonfund Institute, January 20, 2016

Application of Fiduciary Duty to Sustainable Investment Practices l Susan N. Gary (University of Oregon), Keith L. Johnson & Megan K. Jackson (Reinhart Attorneys at Law), November 2015

Fiduciary Duties and ESG Investing | Susan Gary, Trusteeship, Nov/Dec, 2015

Interpretive Bulletin Relating to the Fiduciary Standard under ERISA in Considering Economically Targeted Investments l Employee Benefits Security Administration, Department of Labor, October, 2015 

IRS Notice 2015-62, "Investments Made for Charitable Purposes" | Internal Revenue Service, September, 2015

Fiduciary Duty in the 21st Century | UN Global Compact, UNEP FI, PRI, UNEP Inquiry, September, 2015

Olso Principles on Global Climate Change Obligations l 2014

Evolving Fiduciary Duty of Foundations and Endowments | Reinhart Investor Alert, November, 2014 

Cambridge Handbook of Institutional Investment and Fiduciary Duty - Chapter 8 l June, 2014 

Mission-Related Investing: Legal and Policy Issues to Consider Before Investing l Joshua Mintz and Chelsey Ziegler, MacArthur Foundation, March, 2013

The Time Has Come for a Sustainable Theory of Fiduciary Duty in Investment | Jay Youngdahl, Hofstra Labor & Employment Law Journal, 2012

Is It Prudent to Be Responsible?  The Legal Rules for Charities that Engage in Socially Responsible Investing and Mission Investing | Susan Gary, Northwestern Journal of Law and Social Policy, Winter, 2011

A Legal Framework for the Integration of Environmental, Social and Governance Issues into Institutional Investment | Freshfields Bruckhaus Deringer (Produced for the Asset Management Working Group of the UNEP Finance Initiative), October, 2005 


VIDEO: Sustainable Investing and the Responsible Fiduciary 

Panel from the April 2014 Intentionally Designed Endowments Conference featuring:

  • Jay Youngdahl, The Youngdahl Law Firm
  • Susan Gary, University of Oregon School of Law
  • Keith Johnson, Reinhart Boerner Van Deuren s.c.
  • Moderator: David Dinerman, Hampshire College Trustee

(see all of the videos from the April 2014 conference here)





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