Does fiduciary duty and ESG investing go hand in hand?

By Nithin Sasikumar in BFO #369, 14 Sep, 21

Last week, Harvard University decided that it needed to get into the thick of ESG (environmental, social, and governance) action. The US$42 billion academic endowment fund—the world’s largest—won’t be investing in companies in the fossil fuel industry anymore.

It didn’t happen overnight and took years (a decade, actually) of activism from students, faculty, and alumni to make this happen. And while it’s all part of a sea change that’s happening across the investment management industry, one part of the letter from Harvard’s President stood out to me.