机构投资者信托责任的介绍

The report discusses the historical and legal foundations of fiduciary duty, emphasizing the need to evolve these standards to address modern environmental and climate risks. It highlights that ignoring such risks can be considered a breach of fiduciary duty and provides comparative models from South Africa, the United States, the Netherlands, and Norway to illustrate how institutional investors can transition toward sustainable practices. The document specifically suggests that China is at an opportune moment to establish culturally appropriate fiduciary principles to manage its growing institutional assets sustainably.

• Fiduciary duty is designed to protect beneficiaries and society from being deceived by trustees, focusing on processes and behaviors such as loyalty, prudence, transparency, and accountability rather than just investment outcomes.
• The report identifies significant financial costs associated with environmental degradation; for instance, air pollution costs related to health were estimated to account for 6% of China's GDP by the mid-21st century, and overall environmental degradation costs in China were estimated to be nearly 10% of its GDP.
• In the United States, while the Employee Retirement Income Security Act (ERISA) does not explicitly mandate sustainable investment, major funds like CalPERS and CalSTRS integrate ESG risks into their fiduciary duties, arguing that long-term value creation is central to sustainability.
• Norway's Government Pension Fund Global, the world's largest sovereign wealth fund, operates under a mandate that explicitly links long-term returns to economic, environmental, and social sustainability, utilizing an independent ethics council to exclude companies involved in severe environmental damage or human rights violations.

APA

Johnson, K. L., & s.c., R. B. V. D. (2014). 机构投资者信托责任的介绍. International Institute for Sustainable Development. https://www.iisd.org/system/files/publications/fiduciary_duties_ch.pdf

Chicago

Johnson, Keith L., and Reinhart Boerner Van Deuren s.c. 机构投资者信托责任的介绍. International Institute for Sustainable Development, 2014. https://www.iisd.org/system/files/publications/fiduciary_duties_ch.pdf.

Wikipedia

{{cite report |last1=Johnson |first1=Keith L. |last2=s.c. |first2=Reinhart Boerner Van Deuren |title=机构投资者信托责任的介绍 |publisher=International Institute for Sustainable Development |date=February 2014 |url=https://www.iisd.org/system/files/publications/fiduciary_duties_ch.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{johnson2014, author = {Johnson, Keith L. and s.c., Reinhart Boerner Van Deuren}, title = {{机构投资者信托责任的介绍}}, institution = {International Institute for Sustainable Development}, year = {2014}, month = feb, url = {https://www.iisd.org/system/files/publications/fiduciary_duties_ch.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }