In 2021, signatories voted to elect four asset owners and one investment manager to the board. Signatories also voted to confirm the appointment of Deloitte as the PRI Association’s new auditor, to receive the PRI Annual Report and accounts and to approve the Signatory General Meeting minutes.

Signatories were invited to vote from 30 September 2021 to 26 November 2021 on the elements of PRI governance set out in the table below.

Voting item Asset owners Investment managers Service providers
Vote for one asset owner representative in the PRI Board electioni
Vote for one investment manager representative in the PRI Board electionii

Vote to confirm the appointment of the auditor

Vote to receive the  PRI Annual Report and accounts

Vote to approve the  Signatory General Meeting minutes

1 Each asset owner signatory had four votes for four asset owner positions

2 Each investment manager had one vote for one investment manager position

The candidate(s) who received the highest number of votes were elected

View information on signatory rights

Asset owner representative votes

Each asset owner signatory had the opportunity to vote for four candidates out of ten nominated. The four candidates Sharon Hendricks, Laetitia Tankwe, Wilhelm Mohn, and Scott Connolly received the highest votes and are elected as board directors for three-year terms.

Asset owner candidates Votes
Sharon Hendricks, Vice-chair, CalSTRS Board 241 (20.5%)
Laetitia Tankwe, Advisor to Ircantec President, Ircantec 210 (17.8%)
Wilhelm Mohn, Global Co-Head of Corporate Governance, Norwegian Government Pension Fund Global (Norwegian Ministry of Finance and Norges Bank Investment Management) 161 (13.7%)
Scott Connolly, Trustee Director, Telstra Super 137 (11.6%)
Peter Coveliers, Head of Group Corporate Programmes and Institutional Business Development, European Investment Fund 97 (8.2%)
Denísio Liberato, Equity Director, PREVI 95 (8.1%)
Juan Camilo Osorio, Chairman of the Board, Afore Sura 74 (6.3%)
Kamal Mitha, Head of Investments, Sasria 59 (5.0%)
Massimo di Tria, Chief Investment Officer, Società Cattolica di Assicurazione S.p.A. 59 (5.0%)
Alex Hindson, Chief Risk and Sustainability Officer, Argo Group International Holdings Limited 45 (3.8%)
Abstain 13 (3.8%)
Total voters 338

Candidate vote % is calculated as number of votes for the candidate divided by total aggregate votes (1178).

Investment manager representative votes

Each investment manager signatory had the opportunity to vote for one candidate out of the ten nominated. Wendy Cromwell  received the highest votes and is re-elected as a board director for a three-year term.

Investment manager candidates Votes
Wendy Cromwell, Head of Sustainable Investment, Wellington Management Company, LLP 381 (34.5%)
Karina Funk, Portfolio Manager and Chair of Sustainable Investing, Brown Advisory 144 (13.1%)
Tatjana Puhan, Deputy CIO, TOBAM 140 (12.7%)
Hanneke Smits, CEO, Bank of New York Mellon Investment Management 125 (11.3%)
Maribel Monterrubio, CEO, Vitalis 116 (10.5%)
Alison Schneider, Vice-President, Responsible Investment, Alberta Investment Management Corporation – AIMCo 84 (7.6%)
Papa Madiaw Ndiaye, CEO, AFIG Funds 46 (4.2%)
Melchior de Muralt, Managing Partner, De Pury Pictet Turrettini & Cie 45 (4.1%)
Alan Feld, Founder and Managing Partner, Vintage Investment Partners 14 (1.3%)
Helmut Schuehsler, CEO and Chairman, TVM Capital Healthcare Partners 8 (0.7%)
Abstain 60 (5.2%)
Total voters 1163

Voting breakdown

Voting item For Oppose Abstain Total
Confirm the appointment of the Auditor 1534
(99.4%)
9
(0.6%)
96
(5.9%)
1639
2021 Annual Report and accounts 1491
(99.8%)
3
(0.2%)
145
(8.8%)
1639
2021 Signatory General Meeting (SGM) minutes 1371
(99.9%)
2
(0.1%)
266
(16.2%)
1639

Abstain % is calculated as number of abstain votes divided by total votes.

2021 election participation

Total 36.5% signatories participated in the 2021 voting.

Breakdown by signatory type Electors Votes Turnout (%)
Asset owner ballot 654 338 51.7%
Investment manager ballot 3361 1163 34.6%
Service provider ballot 481 138 28.7%
Total 4496 1639 36.5%

2022 board elections

The PRI Board annual elections is for one asset owner and one service provider representative position. The call for nominations will begin in June 2022, with voting commencing in October 2022. For more information, see PRI Board elections.