Jon McGowan Authors Article on ESG for the University of Chicago Business Law Review

Jon McGowan

JACKSONVILLE, FL—Florida attorney Jonathan A. McGowan (Jon), of The McGowan Law Firm, authored an article on ESG for the University of Chicago Business Law Review. The article, “The Trouble With Tibble: Environmental, Social, and Governance (ESG) and Fiduciary Duty”, looked at the complex relationship between the rise of ESG and the fiduciary duty of fund managers and corporate directors.

Environmental, Social, and Governance (ESG) investing is a quickly developing field, which is advancing faster than the existing regulatory systems. McGowan’s article looks at the historical origins of ESG, legal developments both in the United States and internationally, and the problems ESG causes for fund managers and corporate directors who are tasked with meeting unclear ESG standards while also satisfying their fiduciary duty. In looking at current fiduciary standards in the United States, McGowan concluded that ESG investing may be a breach of fiduciary duty if the directors and managers trade profits for ESG standards.

McGowan has established himself as an expert in the legal development of ESG. He authored a chapter on ESG in the United Kingdom in the book Impact Investing and Social Enterprise: Global Progress and Challenges, published by ABA Publishing. He authored a journal article on green bonds in the United Kingdom for The Year In Review, The International Law Journal of American Bar Association/ International Law Section. In November, he spoke on ESG and fiduciary duty in the European Union at the International Conference on European Company Law and Corporate Governance in Croatia. As a Fellow at the European Law Institute, he is on the members consultative committee for the project Guidance on Company Capital and Financial Accounting for Corporate Sustainability.

McGowan practices in business law, government affairs, and legal development. The article is available at: https://businesslawreview.uchicago.edu/2022/11/29/the-trouble-with-tibble-environmental-social-and-governance-esg-and-fiduciary-duty/

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