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CC14 guidance update: greener investments, greater uncertainty?

Lloyd Brown

Trusts & Trustees, Volume: 29, Issue: 10

Swansea University Author: Lloyd Brown

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DOI (Published version): 10.1093/tandt/ttad085

Abstract

This article examines the newly released Charity Commission guidance, known simply as the “CC14”. The CC14 provides investment guidance to the charity sector and has recently been renewed following the case of Butler-Sloss & Ors v The Charity Commission for England and Wales & Anor [2022] EW...

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Published in: Trusts & Trustees
ISSN: 1363-1780 1752-2110
Published: Oxford University Press (OUP) 2023
Online Access: Check full text

URI: https://cronfa.swan.ac.uk/Record/cronfa65000
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first_indexed 2023-11-16T15:48:29Z
last_indexed 2023-11-16T15:48:29Z
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spelling v2 65000 2023-11-16 CC14 guidance update: greener investments, greater uncertainty? 786add39c141818cbb959ce7277bbd69 Lloyd Brown Lloyd Brown true false 2023-11-16 LAWD This article examines the newly released Charity Commission guidance, known simply as the “CC14”. The CC14 provides investment guidance to the charity sector and has recently been renewed following the case of Butler-Sloss & Ors v The Charity Commission for England and Wales & Anor [2022] EWHC 974 (Ch). In Butler-Sloss, the High Court was asked to determine whether charitable trustees could deploy an investment plan that aligned with the Paris Agreement and excluded investments that contributed to climate change. Mr Michael Green J ruled that such an “ethical” investment plan was lawful. Following Butler-Sloss, the CC14’s use of “social investment” may indeed encourage “greener” investment opportunities amongst charitable trustees, in that the advice attempts to bring charitable trustee investment more in line with modern investment practices. However, this work opines that the guidance could be actively encouraging environmentally inspired investments at the expense of the sacrosanct fiduciary duty of investment. Journal Article Trusts & Trustees 29 10 Oxford University Press (OUP) 1363-1780 1752-2110 CC14, Charity Commission, charity sector, charitable trustees, greener investment 14 11 2023 2023-11-14 10.1093/tandt/ttad085 http://dx.doi.org/10.1093/tandt/ttad085 COLLEGE NANME Law COLLEGE CODE LAWD Swansea University SU Library paid the OA fee (TA Institutional Deal) Swansea University 2023-12-13T11:25:08.8965315 2023-11-16T15:06:07.4789065 Faculty of Humanities and Social Sciences Hilary Rodham Clinton School of Law Lloyd Brown 1 65000__29253__b67b12d9dbd442a885d9617445ead8f9.pdf 65000.VOR.pdf 2023-12-13T10:14:52.1910825 Output 154390 application/pdf Version of Record true © The Author(s) (2023). Published by Oxford University Press. Distributed under the terms of a Creative Commons Attribution 4.0 International License (CC BY 4.0). true eng https://creativecommons.org/licenses/by/4.0/
title CC14 guidance update: greener investments, greater uncertainty?
spellingShingle CC14 guidance update: greener investments, greater uncertainty?
Lloyd Brown
title_short CC14 guidance update: greener investments, greater uncertainty?
title_full CC14 guidance update: greener investments, greater uncertainty?
title_fullStr CC14 guidance update: greener investments, greater uncertainty?
title_full_unstemmed CC14 guidance update: greener investments, greater uncertainty?
title_sort CC14 guidance update: greener investments, greater uncertainty?
author_id_str_mv 786add39c141818cbb959ce7277bbd69
author_id_fullname_str_mv 786add39c141818cbb959ce7277bbd69_***_Lloyd Brown
author Lloyd Brown
author2 Lloyd Brown
format Journal article
container_title Trusts & Trustees
container_volume 29
container_issue 10
publishDate 2023
institution Swansea University
issn 1363-1780
1752-2110
doi_str_mv 10.1093/tandt/ttad085
publisher Oxford University Press (OUP)
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str Hilary Rodham Clinton School of Law{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}Hilary Rodham Clinton School of Law
url http://dx.doi.org/10.1093/tandt/ttad085
document_store_str 1
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description This article examines the newly released Charity Commission guidance, known simply as the “CC14”. The CC14 provides investment guidance to the charity sector and has recently been renewed following the case of Butler-Sloss & Ors v The Charity Commission for England and Wales & Anor [2022] EWHC 974 (Ch). In Butler-Sloss, the High Court was asked to determine whether charitable trustees could deploy an investment plan that aligned with the Paris Agreement and excluded investments that contributed to climate change. Mr Michael Green J ruled that such an “ethical” investment plan was lawful. Following Butler-Sloss, the CC14’s use of “social investment” may indeed encourage “greener” investment opportunities amongst charitable trustees, in that the advice attempts to bring charitable trustee investment more in line with modern investment practices. However, this work opines that the guidance could be actively encouraging environmentally inspired investments at the expense of the sacrosanct fiduciary duty of investment.
published_date 2023-11-14T11:25:09Z
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score 11.035634

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