Jump to ContentJump to Main Navigation
Institutions For Future Generations$
Users without a subscription are not able to see the full content.

Iñigo González-Ricoy and Axel Gosseries

Print publication date: 2016

Print ISBN-13: 9780198746959

Published to Oxford Scholarship Online: January 2017

DOI: 10.1093/acprof:oso/9780198746959.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in OSO for personal use (for details see http://www.oxfordscholarship.com/page/privacy-policy).date: 16 August 2018

Pension Funds, Future Generations, and Fiduciary Duty

Pension Funds, Future Generations, and Fiduciary Duty

Chapter:
(p.385) 23 Pension Funds, Future Generations, and Fiduciary Duty
Source:
Institutions For Future Generations
Author(s):

Joakim Sandberg

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198746959.003.0023

This chapter argues that pension funds, because of their enormous influence on commercial enterprise and therefore on society in general, need to take a stronger responsibility for the effects of corporate activities on future generations and fragile stakeholders. Contemporary understandings of the role of pension funds are predicated on the concept of fiduciary duty, which emphasizes obligations to the funds’ beneficiaries. The chapter explores a variety of interpretations of fiduciary duty and argues that it ultimately hinders more than facilitates a commitment to more sustainable investment philosophies. The proposal is instead that pension funds are given independent social and environmental obligations. These obligations should form a separate legal mandate for the funds and provide a platform for engagement with sustainability issues. The proposal implies a need to develop goals, expertise, and reporting that more directly concerns future generations and fragile stakeholders.

Keywords:   pension funds, institutional investment, fiduciary duty, social responsibility, sustainability, ethics

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .