Luke Fletcher has been quoted in Third Sector, The Lawyer and Blue&Green Tomorrow in regards to BWB instructing Christopher McCall QC on 'ground-breaking legal opinion' considering ethically questionable investments.
Following instruction from BWB, Christopher McCall, an expert on the topic of 'fiduciary duty', has published a new opinion stating that a number of charities may be legally required to re-evaluate their approach to carbon intensive investments. The ground-breaking opinion could lead to a change in Charity Commission's guidance and emphasises the need for fiduciaries to be aware of the possibility of financial risk in investments which might be described as stranded assets.
Luke stated that “Charity investors are different to other investors. Instead of existing to further their own interests, charities exist to benefit the public, which is relevant to how charities invest. This opinion breaks new ground. Charity boards will now need to ask whether fossil fuel investment represents a risk to mission – given the prospect of dangerous increases in global temperatures.”
Posted on 30/11/2015 in BWB In The MediaBack to Knowledge