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url('https://www.unepfi.org/wordpress/wp-content/uploads/2022/06/LFI.png');" > <div class="container h50"></div> <div class="container pt80 pb80"> <h1 class="line-semitransparent">A Legal Framework for Impact</h1> <p>A legal framework for the consideration of sustainability impact in investor decision-making</p> </div> </div> <div class="container mt-5 page-microsite-template"> <article> <div class="row"> <div class="col-12"> <div class="post-content"> <p class="paragraph-intro">It is crucial that assessing and accounting for sustainability impact becomes a core part of investment activity. That is why UNEP FI, together with PRI and The Generation Foundation, have created the work programme “A Legal Framework for Impact.”</p> <p class="paragraph-intro">As the initial stage of the project, a ground-breaking legal analysis authored by Freshfields Bruckhaus Deringer was commissioned to determine the extent to which legal frameworks enable investors to consider impact in their activities across 11 jurisdictions: the EU, Australia, Brazil, Canada, China, France, Japan, South Africa, the Netherlands, UK and the US.</p> <table border="0" style="color: var(--bs-body-color); text-align: var(--bs-body-text-align); width: 100%; height: 337px;"> <tbody> <tr style="height: 337px;"> <td style="width: 42.9023%; height: 337px;"><iframe width="560" height="315" title="YouTube video player" src="https://www.youtube.com/embed/QujRwB78n_g" frameborder="0" allowfullscreen="allowfullscreen"></iframe></td> <td style="width: 57.0977%; height: 337px;"> <p><strong><a href="https://www.unepfi.org/publications/a-legal-framework-for-impact-sustainability-impact-in-investor-decision-making/" target="_blank" rel="noopener">The report</a> </strong>found that while there are differences across jurisdictions and investor groups, when investing for sustainability impact approaches can be effective in achieving an investor’s financial goals, the investor will likely be required to consider using them and act accordingly.</p> <p>It also provides an extensive suite of options for policymakers wishing to facilitate investing for sustainability impact, including changing investors’ legal duties and discretions, such as allowing the pursuit of sustainability goals as long as financial return goals are prioritised, and a presumption in favour of investor collaboration in tackling sustainability challenges.</td> </tr> </tbody> </table> <p> </p> <p>Options for reform presented in the report will now form the basis of a multi-year work programme with PRI, UNEP FI, and The Generation Foundation that will include policymaker engagement and support for investors via workshops and tools to advance their practice initially in five of the markets studied: the EU, Australia, Canada, Japan and the UK.</p> <p>If you would like to know more, please contact <a href="mailto:jesica.andrews@un.org" target="_blank" rel="noopener">Jes Andrews</a>, Investment lead at UNEP FI, and <a href="mailto:margarita.pirovska@unpri.org" target="_blank" rel="noopener">Margarita Pirovska</a>, Director of Policy at PRI.</p> <div class="row content-blocks"> <div class="col col-12 col-sm-4"> <article class="simple-gray-box gb-has-link" data-href="https://www.unepfi.org/legal-framework-for-impact/about/"> <h4>About</h4> <p>Learn more about the project “A Legal Framwork for Impact”</p> </article> </div> <div class="col col-12 col-sm-4"> <article class="simple-gray-box gb-has-link" data-href="https://www.unepfi.org/legal-framework-for-impact/resources/"> <h4>Resources</h4> <p>Access the “Legal Framework for Impact” report and related events, podcasts and articles</p> </article> </div> <div class="col col-12 col-sm-4"> <article class="simple-gray-box gb-has-link" data-href="https://www.unepfi.org/legal-framework-for-impact/media-news/"> <h4>Media & News</h4> <p>Read about “A Legal Framework for Impact” in the news</p> </article> </div> </div> </div> </div> </div> </article> </div> <div class="post-content-fullwidth"> <section class="darkgray pt50"> <div class="generic-slider"> <div class="container"> <div class="generic-static-wrapper"> <h3 class="line-blue" id="tabsTemplate_section_title_54761">Insights from our leadership</h3> </div> <div class="slick"> <div class="slick-item col-md-4"> <article> <img decoding="async" src="https://www.unepfi.org/wordpress/wp-content/uploads/2022/06/inger-andersen-onu-pide-enfoque-one-health-pandemias-zoonosicasmesa-de-trabajo-115942106931.jpg" class="img-fluid img-article" /> <h6> Inger Andersen, Executive Director, United Nations Environment Programme</h6> <p>“This revelatory report offers a new path forward, identifying the current law and modification options to support a transition from predominantly environmental, social and governance-integration to wide-spread investment for sustainability impact.”</p> </article> </div> <div class="slick-item col-md-4"> <article> <img decoding="async" src="https://www.unepfi.org/wordpress/wp-content/uploads/2022/06/Fiona_Reynolds-16-9.jpg" class="img-fluid img-article" /> <h6>Fiona Reynolds, former CEO, Principles for Responsible Investment </h6> <p>“Freshfields have identified a diverse spectrum of actions that investors and policymakers could take to better facilitate investing for sustainable impact, and these are based on an extensive analysis of the unique legal and regulatory conditions they face in their respective jurisdictions.”</p> </article> </div> <div class="slick-item col-md-4"> <article> <img decoding="async" src="https://www.unepfi.org/wordpress/wp-content/uploads/2022/04/David-Blood.jpg" class="img-fluid img-article" /> <h6> David Blood, Senior Partner, Generation Investment Management</h6> <p>“This report is the first of its kind. This detailed legal analysis shows investors they should feel empowered to rethink old investment paradigms by considering risk, return and impact as the pillars of successful investment practice.”</p> </article> </div> </div> </div> </div> <script> jQuery(document).ready( function() { jQuery('.generic-slider .slick').slickSlider(); }); </script> </section> <p> </p> <section> <div class="container"> <h3 class="line-blue">About the project</h3> <p>The project is supported by a group of experts from investment firms that have developed, or are in the process of developing, a strategy for integrating sustainability impact considerations in their firm’s core strategy and investment decision making. The group supports the research and implementation programme by sharing policy developments, questions, concerns and information on legal, regulatory and fiduciary implications of the management of sustainability impact in investment practice.</p> <p>The work on A Legal Framework for Impact is undertaken collaboratively between the <a href="https://www.unepfi.org/" target="_blank" rel="noopener">UN Environment Programme Finance Initiative (UNEP FI)</a>, the <a href="https://www.unpri.org/pri/what-are-the-principles-for-responsible-investment" target="_blank" rel="noopener">Principles for Responsible Investment (PRI)</a>, and <a href="https://www.genfound.org/" target="_blank" rel="noopener">The Generation Foundation</a>.</p> <p>For more project details, visit <a href="https://www.unepfi.org/legal-framework-for-impact/about/">About</a>.</p> </div> </section> <p> </p> </div> </main> <footer class="inverse"> <div class="container"> <div class="row"> <div class="d-flex flex-row flex-wrap 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