BWB's Luke Fletcher has shared his perspective on fiduciary duty in relation to divestment in fossil fuels in Blue & Green Tomorrow.
Blue & Green Tomorrow has reported that 100 philanthropic trusts, foundations and family offices have now committed to the fossil fuel divestment movement. However, organisations that have yet to sign up to the Divest Invest Philanthropy Pledge expressed concerns that their fiduciary duty may hamper their ability to commit.
In response to these concerns, Luke is quoted as saying ”Given the evidence of man-made contribution to climate change and the consequences of climate change on human populations, it would patently be reasonable for a charity with a purpose to protect the environment, with general charitable purpose or, for example, a relief of poverty or advancement of health purposes, which has concerns about the consequences of climate change for its beneficiaries, to divest from carbon-intensive investment, even if this was expected to causes significant financial detriment.”
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Posted on 03/07/2015 in BWB In The MediaBack to Knowledge