Frequently asked questions

On this page you will find answers to common questions signatories have regarding the new PRI Reporting Framework. Please direct any additional questions to reporting@unpri.org.

 

REPORTING BASICS

Do I have to report?

Yes. Reporting falls under Principle 6 and is one of the explicit commitments signatories make when signing.  All asset owner and investment manager signatories are required to report (following a one-year grace period for new signatories).  There are three key objectives of reporting:

  1. Accountability of the PRI: to ensure accountability of the PRI initiative and its signatories.
  2. Signatory transparency: to encourage signatory transparency on responsible investment activities.
  3. Signatory assessment: to provide tools to allow signatories to measure their own performance with objective indicators.

What happens if I don’t report?

Signatories that fail to report will be entered into the delisting process.

When can I report and which period should I report on?

The reporting period will be open for 3 months from 5 January 2016, until the 31st March 2016. Signatories can report at any time during this period and choose which 12-month period they would like to report on. Examples can be found on the Reporting Process page.  An offline version of the framework was released in November 2015 so that signatories can prepare for reporting.

Will everything I report be made public?

No. The framework is made up of mandatory and voluntary indicators, and the status and purpose of each indicator will be clearly marked in the reporting tool. Signatories will only have to complete indicators that are ‘mandatory to report’ and relevant to their organisation and asset allocation mix within each module. Further information on indicator types and disclosure can be found here.

Where can I find the Reporting Framework modules?

You can download the modules here.

  • For versions in Japanese, please click here.
  • For versions in Portuguese, please click here.

Do I need to report all assets under management?

You are required to report all your total assets under management (AUM). This includes the AUM of all your asset management subsidiaries if you own more than 50% of them, except if your subsidiaries already report to PRI separately.

Do I need to report on every asset class?

Where your assets in an asset class account for 10% or more of your AUM, you will be required to complete the corresponding module. Signatories may voluntarily report on asset classes that account for less than 10% of their total AUM. If you choose to do so, you will have to complete the module in the same way you would any mandatory to report module. Voluntarily reported modules will also be disclosed in the same way as mandatory to report modules.

How long will it take to complete the framework?

This depends on a number of factors including your organisation’s structure and size, asset mix and the number of modules you complete. The diversity of your asset mix will determine the number of modules you will be required to complete. The information flow and data tracking systems you have in place will also influence the time it takes to report. If this is the first time you are collecting this data, the first reporting cycle will take more time. However, after you have completed the framework once, most the information will pre-fill into the next year’s reporting framework. PRI would recommend leaving at least 2 weeks to complete reporting.

The Infrastructure module is being piloted this year. Do I need to complete it?

The Infrastructure module will be voluntary for all signatories during the 2016 reporting period. PRI encourages all signatories that have significant holdings in this asset class, or those that can demonstrate advanced responsible investment activities, to complete it.  The information reported will assist PRI in developing the final module.

 

ONLINE REPORTING TOOL

What is the online tool?

The online tool is a web-based reporting platform through which signatories fulfil their reporting requirements. It is made up of a series of modules containing indicators that the signatory will complete. The online tool makes use of advanced logic so that signatories only see modules and indicators relevant to their organisation.

How do I get to the online tool?

You can login to the online tool at https://reporting.unpri.org/. If you have not previously used the online tool, you will need to register and create login details. Please click on the ‘Register’ link. Please note: PRI is not able to access your password and send it to you. If you cannot remember your login details, Please use the ‘Forgot your password?’ link

Where can I find my company code and what is it?

You will find your company code in the email sent out by PRI inviting you to report at the start of the reporting period.

Can several people in the organisation log in to the tool at the same time?

Yes, multiple people can log into the tool and work on different parts of the framework at the same time.

We recommend that before multiple people log in to the system, you first complete the Organisational Overview module (which determines which subsequent modules are relevant for your organisation to complete).

 

REPORTING OUTPUTS

What are the key outputs of the new framework and how do they support the objectives?

There are four outputs for signatories. They are designed to reinforce accountability and transparency and provide meaningful information about responsible investment to clients, beneficiaries and other stakeholders. They include the Report on Progress, individual signatory RI Transparency Reports, confidential signatory Assessment Reports and a new Data Query Tool (to be developed). For further information about the reporting outputs, please click here.

Will I be able to make changes to my RI Transparency Report?

You are able to modify data entered into the online tool at any point prior to submission.  Before submitting, you will have an opportunity to download and review your responses and can return to the online tool to adjust them where necessary. Once your responses have been submitted, you will be unable to make any changes.

 

DEVELOPMENT OF THE REPORTING FRAMEWORK

How was the reporting framework developed?

The PRI Advisory Council agreed in May 2011 to develop a new Reporting Framework for signatories. PRI set up a process in 2011, led by the Reporting Technical Committee (now known as Reporting and Assessment Advisory Committee (RAAC)) with input from asset class and region-specific committees, to develop a new Reporting Framework. This framework was piloted in the summer of 2012 with over 360 signatories participating.

A summary of the feedback and suggested way forward was shared with signatories in October 2012 in: Feedback and Next Steps. In May 2013, additional information was released to outline changes made to the framework since October. A document summarising Governance and development of the PRI reporting and assessment process was released October 2013. A separate process has been underway to develop and refine the new assessment methodology to support the framework, led by the Assessment Technical Committee (ATC). The ATC has also overseen the latest enhancements to the framework that were made from the pilot.

The PRI Advisory Council and PRI Association Board have been actively involved in overseeing its development and discussions on the new framework have taken place at every Board and Council meeting since May 2011.

How were signatories involved?

Following feedback from signatories that a more robust and meaningful reporting framework was needed, the redevelopment of the reporting and assessment process has seen PRI undertake the most extensive consultation in its history with signatories actively involved from the outset in its design, in the governance bodies and committees that have overseen its development, and to road test it as part of the 2012 pilot.

Can I still provide feedback on the framework?

The indicators that make up the framework have now been finalised and will largely remain stable for several years to allow for year-on-year comparison and to minimise the reporting effort for signatories. The assessment methodology and reports were piloted for two reporting cycles.

However the PRI strives to improve the way we collect responsible investment practices and therefore welcomes feedback from signatories at all times. Please use the feedback box in the online tool or email us at reporting@unpri.org.

What are the main objectives of the Reporting Framework and how have these been embedded in its design?

There are two key objectives, which are to provide a standardised transparency tool for signatories to demonstrate their implementation of the Principles and to enable the assessment of their progress and capabilities, facilitating learning and development.

These have been embedded in the design of the new framework in several ways, including mandatory public disclosure of signatory responses, the shift from self-assessment to self- reporting of those responses, and a combination of mandatory, voluntary, closed and open-ended indicators that allows signatories at different stages of implementation and utilising different approaches to evidence their progress.

 

ASSESSMENT BASICS

Will I be able to make my assessment report public if I choose to do so myself?

The PRI did not publish the assessment reports in 2015, however signatories can publish or share their report. Should they choose to share/publish, they must:

  • refer to the PRI assessment methodology;
  • refer to their full Assessment Report if only a section is published;
  • refer to their Transparency Report;
  • take every care not to represent scores out of context.

How does PRI ensure reported information is accurate?

The new framework has been developed to move from “self-assessment” to “self-reporting”. Signatories will be asked to report objective information about their activities and processes. An important subset of this information will be published on PRI website in new RI Transparency Reports for each signatory.

Several measures have been put in place to ensure the information reported by signatories is consistent and accurate, and explanatory notes and definitions will be included within each indicator to reduce the scope for misinterpretation. PRI will carry out additional cross-checks on reported information to ensure it is accurate. We also encourages signatories to have their reports independently assured. Please note: PRI does not assure signatories’ responses.

Can I opt-out of receiving my assessment report?

Yes.

Please note:  your responses will still be assessed and these scores will still be used in an aggregated confidential form to enable peer comparison for other signatories who have requested an assessment report, and for the Report on Progress.

Why did I score E when I didn’t report on the module?

Last year, signatories who indicated that they were not implementing responsible investment for an asset class received a ‘D’ Band. If the asset class represented <10% of their AUM they were not shown this in their assessment report but it was counted in the peering charts and median scores. For signatories with >10% AUM the ‘D’ band was part of their assessment report.

However feedback showed that it seemed unfair that signatories who are not implementing responsible investment and signatories that are in the early stages of developing processes were both captured by the ‘D’ band for a given asset class. Furthermore, in our constant bid to improve transparency we wanted to provide feedback to signatories on all asset classes including those that reported less than 10% assets. But to make sure readers (including clients) understand these bands in context we have added a new column in the summary page showing the AUM for all asset classes.

So from 2015, we now have two new bands:

  1. A+ for the signatories scoring above 95% in a module;
  2. E for signatories that do not implement responsible investment for an asset class.

We communicated these changes to signatories is several ways. We published the Assessment Way Forward document and the methodology was published on our website.