Outline of Possible Interpretative Release by States’ Attorneys General Under The Uniform Prudent Management of Institutional Funds Act (Draft by Bevis Longstreth)

“The approach that institutional investors should take towards investing in the fossil fuel industry and in industries affected by climate change is a question of pressing concern…There is a need for interpretative guidance for fiduciaries subject to the Act as to how the duty of prudence should be exercised with respect to the rapidly growing climate change risks to the coal, oil, gas and other fossil fuel industries as well as to industries significantly dependent on such sources of energy.”

 
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