Universal Ownership, Climate Risk, and the Future of Fiduciary Duty

In this episode of The Future of Finance, Georges Dyer is joined by Lucas Schoeppner, Director of Sustainable Investment Strategies at Westpath Benefits and Investments, to explore how a large faith-based asset owner is operationalizing fiduciary duty through system-level investing.

Westpath, the primary benefits and investment agency for the United Methodist Church, manages more than $26 billion on behalf of over 100,000 clergy and employees. Lucas walks through Westpath’s integrated approach to sustainable investing—grounded in social cohesion, long-term prosperity, and environmental health—and explains why these priorities are not only values-driven, but fundamental to long-term investment performance.

The conversation spans climate risk, human rights, biodiversity, and affordable housing, highlighting how Westpath uses a full toolkit that includes divestment, shareholder engagement, positive impact lending, and manager oversight. Lucas also discusses Westpath’s role as a universal owner, its participation in initiatives like Climate Action 100+ and the Net Zero Asset Owner Alliance, and how system-level risks are being embedded into investment policy and manager evaluation.

Throughout the discussion, Lucas emphasizes the importance of asking better questions—of companies, asset managers, and the financial system itself—to move beyond disclosure toward real-world impact. In a shifting political landscape, this episode offers a grounded case study in how fiduciary duty, long-term thinking, and sustainable investing can—and must—work together. 

This episode was brought to you by Metis Global Partners.

Keywords: System-level investing, Fiduciary duty, Universal ownership, Sustainable investing, Shareholder engagement, Net Zero Asset Owner Alliance, Climate Action 100+, Faith-based asset owners, Human rights risk, Long-term value creation