Guernsey’s “Fiduciary Duty in the 21st Century” report explores how the concept of fiduciary responsibility is evolving in response to global sustainability challenges. Traditionally focused on financial returns and risk management, fiduciary duty now increasingly encompasses environmental, social, and governance (ESG) considerations as part of long-term value creation.
The report highlights how Guernsey’s financial services industry is adapting to this shift, recognising that integrating ESG factors is not only compatible with fiduciary duty but essential to fulfilling it in today’s context. It outlines the legal and practical implications for trustees, investment managers, and other fiduciaries, encouraging them to consider sustainability risks and opportunities in their decision-making processes.
Guernsey’s regulatory environment supports this evolution, offering flexible structures and a strong governance framework that enables fiduciaries to act in the best interests of beneficiaries while aligning with global sustainability goals. The report also references international developments, including work by the UN and OECD, that reinforce the importance of ESG integration.
By embracing a modern interpretation of fiduciary duty, Guernsey positions itself as a forward-thinking jurisdiction, capable of supporting responsible investment and long-term stewardship in a rapidly changing world.
