The Freshfields report takes a much bolder stance while also advancing a more nuanced approach to profit maximization.
"[T]here is no duty to 'maximize' the return of individual investments, but instead a duty to implement an overall investment strategy that is rational and appropriate to the fund,"
The Subprime Meltdown and SRI: Engage, Avoid, Predict
by Bill Baue
Shareowner activists engaged banks on predatory lending long before the subprime crisis climaxed, and SRI research predicted the meltdown in time to avoid some impacts. http://www.socialfunds.com/news/article.cgi?sfArticleId=2366