Finance Investment Policies and New Public Interest Corporates
Betsan Martin, April 2018
Recent developments in responsible investment practices go beyond screening against negative impacts such as climate change and inequality, in favor of a pro-active approach to investment in new corporate frameworks with an explicit mission of public benefit and positive material social and environmental benefits. This indicates a shift from shareholder interests to public good and stakeholder interests.
This shift can was demonstrated recently in New Zealand where there was a nation-wide campaign to stop new offers for oil exploration. Licenses for oil and gas exploration re made available each year. This year NGO’s and churches joined as stakeholders in climate responsibility to stop new licenses, and with the new government planning climate responsible policies, no new licenses were offered.
This signals new policy directions for investment, and here some of the new thinking is outlined, with fiduciary duties understood in terms of mission, long-term benefits and public good priorities.
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