LONDON, 18 September 2013 – The Principles for Responsible Investment Initiative (PRI) today announced that two new members had joined its Advisory Council following its annual signatory elections. Colin Melvin, CEO, Hermes Equity Ownership Services (Hermes EOS), and Peter Webster, CEO, EIRIS, were elected to the two non-asset owner positions open for election this year. Niels Erik Petersen, CIO, Unipension, was re-elected to the position reserved for a European asset owner, which he has held since the Advisory Council was assembled in 2011.
Seven candidates nominated for the two non-asset owner positions and two candidates competed for the European asset owner position. The new Advisory Council members replace Ann Byrne, CEO, Australian Council of Superannuation Investors (ACSI), and Melissa Brown, Partner, Daobridge Capital Ltd, who are stepping down after completing their terms. Council members can serve up to three consecutive three-year terms.
Wolfgang Engshuber, Chair of the PRI Advisory Council, said: “I am pleased to welcome Colin and Peter to the Advisory Council and congratulate Niels on his re-election. I look forward to working with them to deliver the next phase of the PRI’s growth and development. I would also like to thank Ann and Melissa for their years of dedication. All of these individuals have been long-standing supporters of the PRI and championed the development of our industry.”
The election process was administered by an independent external provider, with every signatory eligible to vote for representatives in their category. Over 40% of asset owners and nearly 30% of investment managers and professional service partners cast their vote.
Note to editors:
The 16-person PRI Advisory Council is made up of nine elected asset owner signatory representatives, four elected non-asset owner signatory representatives (investment managers and professional service providers), two permanent UN representatives (from the UN Environment Programme Finance Initiative and the UN Global Compact), and an appointed Chair. It is representative of the PRI’s global signatory base, with reserved positions for each category of signatory and the geographic regions of Europe, North America, Latin America, Asia, Oceania and Africa and the Middle East.
Its role is to guide the overall long-term strategic direction of the PRI, protect and develop the six Principles, reflect and represent the views of signatories and appoint and oversee the work of the Board of PRI Association, the UK-registered not-for-profit organisation that oversees the PRI Secretariat.
Detailed biographies for Advisory Council members and additional information about PRI governance is available on the PRI website.
About the Principles for Responsible Investment
The United Nations-supported Principles for Responsible Investment Initiative (PRI) is a network of international investors working together to put the six Principles for Responsible Investment into practice. The Principles were devised by the investment community. They reflect the view that environmental, social and corporate governance (ESG) issues can affect the performance of investment portfolios and therefore must be given appropriate consideration by investors if they are to fulfil their fiduciary (or equivalent) duty. The Principles provide a voluntary framework by which all investors can incorporate ESG issues into their decision-making and ownership practices and so better align their objectives with those of society at large.
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