ESG and hiding behind fiduciary duty

Anybody who works in financial services will (or certainly should) be familiar with the concept of fiduciary duty, whereby a steward acts in the best interests of a beneficiary. This includes acting in good faith, avoiding conflicts of interest and showing due care and diligence. Fund managers are stewards of investors' capital and must therefore act in the best interests of these clients. Why do you invest with a fund manager? To generate returns on capital. This then, is the primary fiduciary duty of a fund manager, to try and enhance the capital your client has bestowed you. Advoca...