The non-response of pension funds to climate change and human rights

Abstract

Our analysis suggests that pension funds face challenges when they implement into practice the usual definition of responsible investment: the integration of environmental, social and corporate governance factors into investment decision making. The current definition of responsible investment seems to allow various interpretations and may therefore discourage pension funds from developing clear responsible investment practices that would allow them to address public policies such as climate change and human rights.

Keywords:

• pension funds
• responsible investment
• impediments to responsible investment
• fiduciary duty
• climate change
• human rights