Intentional Endowments Network Launches Fiduciary Duty Initiative
Release Date: March 23, 2026
The Initiative will support asset owners in establishing consensus around the definition of fiduciary duty as it relates to climate, inequality, and systems-level risk.
The Intentional Endowments Network (IEN) is launching an initiative centered on the legal and fiduciary duty considerations related to climate change, the energy transition, and climate justice for investors.
As it becomes clearer that systemic risks from climate change and extreme inequality pose material financial risks for investors — particularly long-term institutional investors and ‘universal owners’ — a clear, integrative definition of fiduciary duty has become imperative. The Fiduciary Duty for Climate Justice (FD4CJ) Initiative will gather experts from the legal, investment, nonprofit, and climate sectors to publish resources and provide guidance equipping investors to fulfill their fiduciary duty in a way that accounts for long term societal and planetary stability.
In 2026, the Initiative will also entail in-person convenings, virtual Chatham House-rules conversations, and bespoke guidance for endowments working to adopt a systems-level fiduciary lens. This Initiative builds on the Intentional Endowment Network’s previous work on climate and inequality issues, as well as shareholder engagement and investment governance.
After publishing the paper “Leading with Justice: Net Zero Investing & Conversations on Climate Justice” with a number of partner organizations, IEN published a Briefing Paper: The Fiduciary Duty Case for Climate Justice in 2025. The Briefing Paper outlines key definitions, fiduciary considerations, and investment frameworks related to climate justice, and outlines the compelling fiduciary duty case for climate justice.
Building on this work, the Initiative, supported by a working group of experts, will spotlight leading asset owners and practitioners bridging the knowledge gap between traditional investing and systems-level lenses.
“For long-term institutional investors, fiduciary duty increasingly requires attention not only to individual investment performance, but also to the health and stability of the systems that shape portfolio outcomes. Climate change, inequality, and other systemic risks influence the functioning of entire markets and economies—and therefore the long-term returns of diversified portfolios,” said William Burckart, CEO of The Investment Integration Project (TIIP) and a member of the Initiative’s Leadership Committee. “Clarifying how fiduciary duty applies in this context is essential, and initiatives like this help equip investors with the frameworks needed to steward capital responsibly in an era defined by system-level risk.”
"Institutional asset owners and universal owners have a unique responsibility — and opportunity — to steward capital in ways that account for the systemic risks that climate change and inequality pose to entire portfolios and the broader systems on which long-term returns depend,” said Georges Dyer, Executive Director of IEN. “The interpretation of fiduciary duty has always evolved alongside changing circumstances, and the scale of today's climate and inequality challenges requires a renewed understanding of what it means to act as a prudent fiduciary. The Fiduciary Duty for Climate Justice Initiative will help investors adopt a framework that is fit for the challenges ahead."
About The Intentional Endowments Network
The Intentional Endowments Network (IEN) is a non-profit peer-learning network that supports institutional investors to adopt investment strategies that support an equitable, low-carbon, and regenerative economy. IEN connects endowments, foundations, asset managers, investment consultants, nonprofit partners, and individuals to advance the field of mission-aligned, sustainable investing. Learn more at www.intentionalendowments.org
MEDIA CONTACT:
Bella Alvarez, Program Manager, Intentional Endowments Network | [email protected]