We congratulate STEP on the launch of its Responsible Stewardship Toolkit, a new online resource that will help private wealth practitioners to translate the principles of responsible stewardship of wealth into practice. The toolkit is the culmination of a collaborative piece of work by over fifty leading private wealth professionals under the inspiring leadership of Gina M. Pereira TEP, the current chair of STEP’s Responsible Stewardship of Wealth Thought Leadership Working Group.
Litigation consultant Hannah Southon together with Adrian Pilcher TEP of Isolas LLP led the drafting of template provisions to include in new inter vivos trusts to facilitate responsible investment approaches. Hannah was inspired to begin thinking about this question following the decision in Butler-Sloss v Charity Commission & Another [2022], which clarified the parameters of ethical investing for charity trustees but arguably not for trustees of private non-charitable trusts. Trusts is one of three areas currently addressed by the toolkit, the others being wills and powers of attorney. The toolkit is however a dynamic resource that will evolve to address other relevant areas and to reflect advances in sustainability practices and responsible wealth stewardship. It is a resource to keep abreast of and one that we have been very privileged to support.
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