Publications

Report on Progress 2014

October 2014

4.51 MB | 32 pages
This report is the result of the analysis of the largest ever global data gathering exercise on responsible investment. It shows that, while much progress has been made in raising the broad awareness of the issues and that most investors now acknowledge the need to incorporate these factors into investment processes more work remains to be done to measure the financial and ESG impact of their early efforts to do so. The report is the analysis of over 800 responses to PRI's reporting framework.
This overview presents a snapshot of results from research commissioned by the PRI and a steering group of investors to GMI Ratings. The research explored the integration of ESG factors into executive remuneration by companies in the utility and extractive sectors across North America, Australia and Europe. The research will be used to inform a PRI coordinated investor engagement with a target list of companies on this issue. For a full copy of the research, please contact Athanasia Karananou.

PRI-coordinated engagement on director nominations

September 2014

2.43 MB | 102 pages
This collaborative engagement, aiming at improving the way candidates are nominated for appointment to enable boards to work most effectively, is supported by a discussion paper and country specific research. Part one of the discussion paper (open for comments until 15 November 2014) outlines a proposed engagement framework for investors interested to pursue dialogue with companies on the issue, while part two includes analysis and good practice recommendations for seven markets: Australia, Canada, France, Italy, Sweden, UK, and US. In addition, a research report commissioned to Institutional Shareholder Services (ISS) presents the findings of an in-depth review of director nomination practices at the largest companies in the US and France, to directly inform the collaborative engagement and company target list.

 

Click here to read the proposed engagement framework (part 1)

 

Click here to read the findings of market analysis (part 2)

 

Click here to download the ISS research of director nomination practices at the largest companies in the US and France

Fixed income investor guide

September 2014

1.97 MB | 44 pages
The guide was written to help fixed income investors implement the Principles. It explains the unique aspects of RI in fixed income and contains practical advice on ESG integration, screening, themed investments and engagement. The guidance relates to corporate, financial, SSA and securitised bonds and private instruments. Further details and case studies will appear on the fixed income section of this website.

Annual Report 2014

August 2014

4.51 MB | 56 pages
The 2014 PRI Annual Report captures the activities of the PRI Initiative from July 2013 – June 2014 and includes an overview of PRI governance and audited financials.

This guidance document enables GPs to develop a framework for the integration of environmental, social and governance (ESG) factors in their investment activities, linking this to organisational governance, structure and culture. Limited Partners (LPs) can use the document to understand the different ESG integration practices being implemented in the market, which will facilitate a more informed discussion with their GPs during both fund selection and monitoring.

 

Click here to read a short summary of the guide.

 

Click here to read the case studies supplement, which provides more detail on the examples used throughout the guide.

The report is the abridged version of research conducted by AccountAbility, a global consultancy firm, which investigates the disclosure and practice of listed companies involved in hydraulic fracturing (‘fracking’). The document highlights the generally limited disclosures across the sector. The research is used by investors part of a collaborative engagement on fracking which is coordinated by the PRI.

The Value Driver Model provides a simple and direct approach that companies can use to assess and communicate the financial impact of their sustainable business strategies. This report is part of a toolkit which includes presentation slides and fully developed case examples. More information on the Value Driver Model can be found on the United Nations Global Compact website

Corporate bonds: Spotlight on ESG risks

December 2013

633.19 KB | 20 pages

This discussion paper explores the relationship between environmental, social and governance (ESG) factors and corporate credit strength. In a bid to promote responsible investment in fixed income the paper highlights academic research and practical examples showing the importance of ESG factors to fixed income investments.

 

A translated version of the executive summary available in German.

Building on the “Guidance on Responsible Business in Conflict-Affected and High-Risk Areas”, this UNGC-PRI publication presents examples of how companies and investors have used the Guidance as a tool to align their policies, to engage with investee companies and to advance the implementation of responsible business practices operating in conflict-affected areas.

PRI-coordinated engagement on employee relations

September 2013

615.80 KB | 15 pages

This summary document identifies and assesses disclosure and practices of global retail companies against key human capital management performance indicators. The research was commissioned by the PRI Secretariat, in collaboration with the Employee Relations Steering Committee, to the UK-based management consultancy Carnstone, and forms the basis of a collaborative engagement on the topic.


More information on collaborative engagements coordinated by the PRI can be found here.


More details on the employee relations engagement is available to PRI signatories here.

Sovereign bonds: Spotlight on ESG risks

September 2013

2.54 MB | 20 pages

This discussion paper explores the relationship between ESG factors, sovereign credit risks and investment performance. It aims to prompt institutional investors to take a more holistic view of credit risks in their sovereign bond portfolios by considering ESG factors in their investment processes.

 

A translated version of the executive summary available in German.

Annual Report 2013

August 2013

3.04 MB | 52 pages

The 2013 PRI Annual Report captures the activities of the PRI Initiative from July 2012 – June 2013 and includes an overview of PRI governance and audited financials. 

Understanding the impact of your investments

July 2013

1.06 MB | 14 pages

This paper provides an introduction to environmental and social impact performance measurement and reporting. It explains the value in measuring impact and provides guidance, what investors should be tracking and some publicly available tools and techniques that can help.

This report assesses and clarifies the capacity needs of key investment actors to analyse and use ESG information, including for: institutional investors (investment managers, insurance companies, asset owners), investment banks (the sell-side), ESG research providers, companies, business schools, policymakers and non-governmental organisations (NGOs). This report is part of a project funded by the European Commission that the PRI has been working on in partnership with ICGN and EFFAS. 

PIIF Signatories’ Report on Progress

February 2013

232.98 KB | 4 pages

This report is based on the Reporting Framework piloted in 2012, the aim of which is to encourage transparency and support dialogue between direct and indirect investors. It indicates current implementation of the Principles for Investors in Inclusive Finance among direct investor signatories.

Annual Report 2012

2012

5.18 MB | 16 pages

The 2012 PRI Annual Report captures the activities of the PRI Initiative from August 2011 – May 2012 and outlines the new strategic direction of the Initiative for the future.

Investing in the sustainable economy

2012

1.90 MB | 19 pages

A collection of case studies examining how PRI signatories are contributing to the development of a sustainable economy by investing in projects with positive environmental and social impacts.

This document outlines the major opportunities and challenges associated with integrating ESG issues into executive pay and provides practical examples of emerging practices. It is designed to guide dialogue between shareholders and investee companies, and help improve corporate boards' practices to the benefit of both companies and their investors.

This compendium highlights how founding signatories to the Principles for Investors in Inclusive Finance have begun implementing the Principles, one year since their launch. The seven Principles are explained in more detail, and each is accompanied by one or two case studies from investment managers, finishing with links to further guidance and toolkits available to investors exploring responsible investment in inclusive finance.

This compendium highlights how PRI signatories implement responsible investment practices in infrastructure investment. The report begins with an overview of the specific characteristics of infrastructure investments and discusses what responsible investment means in this asset class.

 

A translated version of this document available in French.

Annual Report 2011

2011

1.14 MB | 28 pages

The 2011 PRI Annual Report captures the activities of the PRI Initiative from August 2010 – July 2011.

Report on Progress 2011

2011

2.52 MB | 72 pages

This report captures the aggregated results of the PRI's annual survey. It explains how hundreds of investors across the world managing close to US$ 30 trillion are implementing the six Principles. It also presents the latest global trends emerging around responsible investment.

This guidance document helps limited partners to develop their own approach to responsible investment in private equity. The document can apply to any private equity investments, including venture capital, growth, mid-market, buy-out, mezzanine, co-investments, secondary investments, distressed and special situations, and funds of funds.

 

A translated version of this document available in Japanese.

The fourth in a series of toolkits produced by the Property Working Group of the United Nations Environment Programme Finance Initiative (UNEP FI). This toolkit outlines a set of core issues that property investors may wish to consider when implementing an RPI strategy within their organisation, focusing on how an approach and related policy may be translated into practice.

This report takes a snapshot of how responsible investment within passive management is currently interpreted. It also provides some initial ideas for how investors can develop their own approaches to this challenge.

Report on Progress 2010

2010

529.10 KB | 60 pages

This report summarises signatories' responses to the annual Reporting and Assessment questionnaire. The results are presented alongside case studies of how investors are implementing individual principles.

Annual Report 2010

2010

1.89 MB | 24 pages

This Annual Report provides a summary of the PRI Initiative's progress from July 2009-August 2010. It also highlights how the Initiative helps signatories develop processes for incorporating ESG issues and improve corporate behaviour.

Public Finance Mechanisms (PFMs) have the potential to leverage large quantities of private finance through smart public investment at scales beyond the carbon markets. This report provides evidence of what has made such mechanisms work successfully in the past and suggests how PFMs could best be deployed to leverage private investment at scale to create a global low-carbon economy.

Report on Progress 2009

2009

3.36 MB | 60 pages

This report is based on responses provided by signatories to the PRI's annual Reporting and Assessment questionnaire. The results show steady progress among the signatory base as a whole, while highlighting challenging areas of implementation within some Principles, markets and asset classes.

Annual Report 2009

2009

1.22 MB | 28 pages

This Annual Report provides a summary of the progress of the PRI Initiative from 1 June 08 - 31 May 09. It provides a window into the activities of the Initiative, and how it is helping investors to improve corporate behaviour on issues such as corporate governance, transparency, human rights, and climate change. It also highlights how the Initiative helps its signatories develop processes for incorporating ESG issues across a variety of investment processes.

This report provides suggestions on how the PRI Principles could be applied to private equity. It aims to help Limited Partners (LPs) assess the extent to which a General Partner's investment and ownership processes are consistent with the LP's own commitments as a PRI signatory. Its scope addresses engagement and information that an LP can consider both before investing in a fund and during the life of that fund.

This report presents case studies from the perspective of private equity firms (General Partners) that want to build better companies and that are working with their General Partners. The aim of these case studies is two-fold. First, they are intended to help support the implementation of responsible investment in private equity through sharing best practice. The second purpose is to help raise awareness that responsible investment is ultimately a component of fiduciary duty.

Building responsible property portfolios

2008

416.92 KB | 16 pages

This report helps PRI signatories understand how they can apply the Principles to property assets through responsible property investing. It does so by highlighting the work of leading practitioners.

Investor leadership on climate change

2009

1.18 MB | 40 pages

This report offers an analysis of the investment community's role on climate change, and takes a snapshot of investor activity on the issue. The leadership roles for investors arising from the climate challenge and some of the activities already going on in these areas, along with best practice are highlighted.

Report on Progress 2008

2008

1.90 MB | 52 pages

Based on the results of the PRI Reporting and Assessment process undertaken in 2007, this report provides an extensive guide to the responsible investment approaches to investment decision making and ownership practices within a significant segment of the institutional investment industry. In particular, it provides insight into the progress achieved by signatories over the course of 2007 as well as specific examples of best practices and implementation.

Report on Progress 2007

2007

1.10 MB | 40 pages

This first report from the PRI captures how investors were integrating environmental, social and governance (ESG) issues within investment decision making and ownership practices. It is intended to be a reference manual that signatories can use on an ongoing basis as they implement the Principles.

The report features influential and award-winning studies from the academic community and renowned brokerage firms analysing responsible investment performance at both the company/stock and fund/portfolio level, and bolstering the materiality of environmental, social and governance factors.

This report contains 15 case studies offering a snapshot of some of the most advanced approaches to responsible investment around the world. It is intended to serve as practical guidance for the institutional investment community, particularly trustees of pension funds, foundations and life insurers, and their agents, on how and why leaders integrate environmental, social and governance considerations into their investment processes.

This report publishes the work of ten sell-side brokerage houses. Analysts were given a free hand to cover the areas they felt to be the most important. CRA RogersCasey, a US-based investment consultancy firm, was also invited to comment on whether the documented ESG links to financial value in the research submitted were strong enough to make a convincing case for mainstream investors.