in-20240501-IR-010240158AOA: Official Opinion No. 2022-3
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Financial and economic considerations must be a trustee's sole consideration ESG investments are not prudent because they do not maximize economic return Application to Board's voting rights, retained investment advisors, and duty to supervise Special consideration of Investment Managers who have joined global climate initiatives Membership in a global climate initiative potentially implicates a fiduciary's duty of prudence Membership in a global climate initiative potentially implicates a fiduciary's duty of loyalty
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90 words as published, May 01, 2024. View the original →
OFFICE OF THE ATTORNEY GENERAL Official Opinion No. 2022-3 QUESTIONS BRIEF ANSWERS BACKGROUND ANALYSIS The Board's fiduciary obligations Financial and economic considerations must be a trustee's sole consideration ESG investments are not prudent because they do not maximize economic return Application to Board's voting rights, retained investment advisors, and duty to supervise Special consideration of Investment Managers who have joined global climate initiatives Membership in a global climate initiative potentially implicates a fiduciary's duty of prudence Membership in a global climate initiative potentially implicates a fiduciary's duty of loyalty CONCLUSION
Documents
- Full text (state register) · May 01, 2024
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