Nachhaltiges Investment

This book innovatively evaluates ‘sustainable investment funds’ against the background of the existing investment law, and it legally contextualises the current market situation.
The central challenge as regards sustainable funds is the vagueness of non-economic investment criteria. After discussing the question of whether a universal statutory definition of non-economic criteria can be found, the analysis is dedicated to the interpretation of the non-economic criteria contained in privately drafted investment terms and conditions. The minimum requirements which the German Investment Act (KAGB) places on the use of such investment criteria are then evaluated. In addition, the study considers the regulatory requirements for sustainable investment funds, for instance the role of an ethics committee. Finally, it examines a capital management company’s civil liability for investing while in breach of contract.