So I know I won't get this 100% correct in my translation but as I understand from an NPR Morning Edition story today, the US Labor Department is considering challenging Pension Fund investments that use "social indicators" (sustainable, socially conscious, "green" or ethical investing) as one of their criteria for not investing. The Administration is suggesting that using such indicators is not proper fiduciary practice as the standard for proper fiduciary practice should be profit or in essence, getting the highest return on investment with the further premise of course that social indicator funds do not generate the highest returns.
Now, momentarily put aside that there is lots of evidence that socially conscious investments actually perform quite well but more important, I am under the firm belief that all fiduciary duty is informed by values and not investing in smoking or gambling or "sin" corporations is reflective of core principals and values. For that matter, commitment to profits is a values commitment. I have my own perspective of profit as a value but just the same, it should be generally accepted that profit is a core value that drives fiduciaries. But beyond this, other values matter.