PRI Updates Responsible Investment Reporting Framework for Investors
Responsible investment organization the Principles for Responsible Investment (PRI) announced today the release of its new Reporting Framework, setting out the updated reporting process for the organization’s investor and asset owner signatories.
The Principles for Responsible Investment were established by a group of investor signatories in 2006, supported by the United Nations, to aid investors in integrating ESG factors into the investment process. To achieve this goal, the PRI group established a set of specific, voluntary and aspirational principles for investors to follow, including the incorporation of ESG issues into the investment process, and into signatories’ own ownership policies and practices. Signatories to the PRI are also required to report annually on their responsible investment activities based on a number of different indicators.
The reporting process has been on hold since 2021, to allow for the updates to the framework. With the release of the new framework, the reporting cycle will begin again in May 2023.
David Atkin, PRI CEO, said:
“We are very pleased to launch 2023 reporting for PRI’s signatories. The updated framework provides a valuable way for our signatories to monitor and report progress against their ESG investing goals. In addition, the framework will offer broader insights into progress on responsible investment issues which are important to our signatories and the responsible investment ecosystem broadly.”
The changes to the PRI’s reporting framework reflect the increasing regulatory demands facing signatories over the past several years, particularly since the PRI reporting took place in its current form in 2012, as well as the fragmented global landscape, with different demands and expectations in different markets. According to the PRI, the new framework aims in part to deliver a reporting process highlighting where progress has been made, and where more work is needed.
Changes include improvements in clarity, with updated terminology and minimized ambiguity in questions, as well as improvements in consistency and applicability, as well as restructuring of some sections for better alignment with other sustainability reporting frameworks such as TCFN, TNFD and ISSB.
The framework also incorporates changes to reflect emerging themes across the responsible investment landscape, including the introduction of new voluntary indicators focused on human rights. These changes reflect the priority areas highlighted by the PRI in its 2021-2024 strategic plan.
Chief Reporting Officer at the PRI, Cathrine Armour, said:
“Our Reporting Framework is constantly undergoing a process of evolution, and we believe that this most recent iteration of the framework delivers vital transparency and insight which benefits our signatories on both an individual and collective basis. Notably, the inclusion of key indicators on issues such as human rights demonstrates how PRI is enabling change through our reporting process.”
Click here to access the PRI’s updated framework materials.