Abstract:
Alan Herbert lends his reaction and comments in reference to an
article written by shareholder activist Robert Monks called,
“Shareholders should become eco-warriors.” The article cites the
Myners review of corporate governance in the UK, which insists that
shareholders hold fiduciary owners accountable for not being active.
Monks suggests we apply this model of corporate governance to pension
fund management, and encourages shareholders to push for more social
and environmental conscientious investment of funds. Herbert uses
several pension fund management companies as examples of proactive
implementation of such suggestions, and heralds the standardized use
of such practices in the US in the future.