Signatory voting
From 20 September to 1 December, signatories will be invited to vote on various elements of the PRI’s governance shown in the table below.
Asset owners | Investment managers | Service providers | |
---|---|---|---|
Vote for three asset owner representatives in the PRI Board election |
✔ |
|
|
Vote for one investment manager representative in the PRI Board election |
|
✔ |
|
Vote to confirm the appointment of the Chair (statement & video) |
✔ |
✔ |
✔ |
Vote to receive the PRI Annual Report (website & PDF) and Accounts [1] |
✔ |
✔ |
✔ |
Vote to approve the Signatory General Meeting minutes |
✔ |
✔ |
✔ |
Vote to approve amendments to the Articles of Association |
✔ |
✔ |
✔ |
Each asset owner signatory will have three votes for the three asset owner positions and vote separately for the three positions (this is to ensure global representation on the PRI Board). Each investment manager signatory will have one vote for the one investment manager position. The candidates who receive the highest number of votes in each category are elected.
All asset owner, investment manager and service provider signatories will be invited to vote to:
- Vote to confirm the appointment of the Chair (statement & video).
- Receive the PRI Annual Report (website & PDF) and Accounts.
- Approve the Signatory General Meeting minutes.
- Approve amendments to the Articles of Association.
How signatories can vote
On 20 September, the main contacts for every signatory organisation will have been invited via email from vote@governance.unpri.org to vote on behalf of their signatory organisation. Voting reminders to those signatories that have not voted yet will be sent on 27 September.
If you are unable to find the ballot email that was sent from vote@governance.unpri.org or if you would like to find out who is your signatory organisation’s main contact, please complete the following voting ballot request form.
Signatory voting closes on 1 December 2023 17:00 GMT.
The voting will be conducted via an independent voting provider ‘Simply Voting’ which is a web-based online voting system. All votes are anonymous.
If you have any queries about the election and voting process, please contact governance@unpri.org
PRI Board election
The 2023 PRI Board annual election is for three asset owner representative positions and one investment manager representative position.
Asset owner candidates | Statement | Video |
---|---|---|
Catherine Bolger, Board Director, State Super - SAS Trustee Corporation (Australia) |
||
Anita J. Clemons, Senior Vice President & Managing Director of Investment Management, Presbyterian Church U.S.A. Foundation (United States) |
||
Alessandra Festini, ESG Manager, Cassa Nazionale di Previdenza e Assistenza Forense (Italy) |
Video | |
Jonathan Grabel, Chief Investment Officer, Los Angeles County Employees Retirement Association (LACERA) (United States) |
Video | |
Torben Möger Pedersen, Chief Executive Officer, PensionDanmark (Denmark) |
Video |
Asset owner candidates headquartered in Africa | Statement | Video |
---|---|---|
Kamal Mitha, Head of Investments, Sasria SOC Limited (South Africa) |
||
Lebogang Mokgabudi, Independent Specialist Trustee, Government Employees Pension Fund (South Africa) |
||
Sonja Cecile Saunderson, Chief Investment Officer, Eskom Pension and Provident Fund (South Africa) |
Asset owner candidates headquartered in Asia | Statement | Video |
---|---|---|
Takeshi Kimura, Special Adviser to the Board, Nippon Life Insurance Company (Japan) Asset owner signatories will be asked to approve Takeshi Kimura’s appointment as Director by a simple majority vote. |
Investment manager candidates | Statement | Video |
---|---|---|
Eric Bruguiere, Partner, Ciclad Gestion (France) |
||
Johannes Feist, Chief Executive Officer, Mikro Kapital Management S.A. (Luxembourg) |
Video | |
Laurence Vigeant-Langlois, Managing Director, AE Industrial Partners, LP (United States) |
Video | |
Kudakwashe Mukova, Head of Impact & Sustainability, Norsad Capital (Botswana) |
Video | |
Mmakeaya Magoro Tryphosa Ramano, Non-Executive Director, Public Investment Corporation (PIC) (South Africa) |
Video | |
Tycho Sneyers, Managing Partner, LGT Capital (Switzerland) |
Video | |
Carina Wessels, Executive: Governance, Legal, Compliance and Sustainability, Alexander Forbes Investments Limited (South Africa) |
Video |
About the PRI
The PRI is a global membership organisation that has grown significantly since it was founded in 2006 by a small group of investors in partnership with the UN Global Compact and UNEP Finance Initiative. Today there are more than 5,000 signatories in over 80 countries. Following a period of rapid growth, the aim of the current phase of development is to strengthen value across the diverse and global membership base, operate at scale, deepen understanding of the signatories, transform digital reach, develop organisational capabilities, and build a truly global organisation.
The PRI Board is responsible for:
- PRI strategic planning and oversight of the implementation.
- Monitoring operations, including risk factors.
- Promotion of signatories’ implementation of the Principles.
- Reporting to signatories, including the Annual Report.
- Governance, signatory rights, rules, and policies.
Skills, experience, and diversity
As part of the commitment to strengthen the rigour and accountability of the election process, the PRI is providing guidance and information to candidates and signatories in advance of their vote.
The Board should have the appropriate balance of skills, diversity, experience, independence, and knowledge of the organisation to enable it to discharge its duties and responsibilities effectively. This necessary diversity encompasses a sufficient mix of relevant skills, competence, and diversity of perspectives. It may include but is not limited to: geographical diversity of signatory representation to bring regional knowledge and perspectives to the board; diversity of geographical origin, ethnicity, language and culture, and other personal characteristics, such as gender diversity.
The Board needs to be appropriately representative of the diversity of society and PRI signatories in order to generate effective debate and discussion around the key issues that the board considers, and create an inclusive board culture that is welcoming to all people from different backgrounds and values individuals for their different perspectives. This aims to deliver the broadly founded leadership that the initiative requires. The PRI is a global organisation, and aims for global representation on its board, particularly within the asset owner positions.
Therefore, the PRI Board proactively encouraged candidates from asset owner signatories headquartered in:
- Africa to nominate during the ‘exclusivity period’ from 22 May - 16 June; and
- Asia to nominate during the ‘exclusivity period’ from 22 May - 16 June.
For all positions, the PRI Board is encouraging nominations from candidates with:
- Governance skills and demonstrated leadership in responsible investment.
Candidates are asked to elaborate leadership and governance experience, and demonstrated leadership in responsible investment, in their candidate statement. This information as well as information on the nominating signatory, the candidate biography, statement, and candidate video will enable the signatory electorate to easily compare the skills, experience, and diversity of the respective candidates.
Eligibility
To be eligible to stand for the election, candidates must be a ‘relevant officer’, a person who is employed or otherwise serving as:
(i) the Chief Executive Officer of a Signatory; or
(ii) the Chief Investment Officer of a Signatory; or
(iii) in the case of a Signatory that does not have the offices of Chief Executive Officer or Chief Investment Officer: the most senior investment professional of that Signatory; or
(iv) a director serving on the main governing board (and not merely any subsidiary boards, subordinate boards or committees) of a Signatory; or
(v) a trustee of a Signatory; or
(vi) an executive employee of a Signatory in a role where his or her immediate line manager is one of the persons described in sub-paragraphs (i), (ii) or (iii) of this definition of Relevant Officer.
(vii) a former relevant officer.
Signatory rights and the PRI Board
Nominating candidates for the Board elections and electing PRI Board Directors are important signatory rights and responsibilities. The PRI encourages signatories to participate in the nomination and elections process to maintain a vibrant and representative PRI Board. Learn more about your rights as a PRI signatory.
The PRI Board is collectively responsible for the long-term success of the PRI and in particular for: setting the strategy, risk appetite and structure; delegating the implementation of the strategy to the PRI Association Executive (the Executive); monitoring the Executive’s performance against the strategy; exercising accountability to signatories and being responsible to relevant stakeholders.
The Board is composed of: one independent Chair (confirmed by a signatory vote) and ten Directors (seven elected by asset owner signatories, two by investment manager signatories and one by service provider signatories). The Chair and all elected Directors are the Statutory Members of the Company. There are two Permanent UN Advisors to the board, representatives from the PRI’s founding UN partners: UN Global Compact and UNEP Finance Initiative.
Current board Directors are all CEOs, CIOs, Board members, or report to ‘relevant officers’ of signatory organisations. Part of the role of the Board is to be ambassadors for the PRI and for responsible investment. For information on the current board Directors, including Directors’ terms, see the table below.
Current Board Directors
Category | Director | Signatory | Signatory HQ country | Term |
---|---|---|---|---|
Chair |
Martin Skancke |
Independant |
N/A |
2021-2023 |
Directors elected by asset owner signatories |
Vacant position* – one asset owner position added to annual elections |
|||
Denísio Liberato |
PREVI |
Brazil |
2023-2025 |
|
Sharon Hendricks |
CalSTRS |
USA |
2022-2024 |
|
Takeshi Kimura* |
Nippon Life Insurance Company |
Japan |
2021-2023 |
|
Wilhelm Mohn |
Norges Bank Investment Management (NBIM) |
Norway |
2022-2024 |
|
Renosi Mokate* |
Government Employees Pension Fund (GEPF) |
South Africa |
2021-2023 |
|
Laetitia Tankwe |
CFDT |
France |
2022-2024 |
|
Directors elected by investment manager signatories |
Wendy Cromwell |
Wellington Management |
USA |
2022-2024 |
Tycho Sneyers* |
LGT Capital Partners |
Switzerland |
2021-2023 |
|
Director elected by service provider signatories |
Rebeca Minguela |
Clarity AI |
United States |
2023-2025 |
*Scott Connolly resigned from the PRI Board due to accepting another appointment.
End of term Board Directors* | ||
---|---|---|
Director |
Category |
Eligible to re-nominate |
Takeshi Kimura |
Asset owner representative |
Yes |
Renosi Mokate |
Asset owner representative |
No |
Tycho Sneyers |
Investment manager representative |
Yes |
Renosi Mokate has served three consecutive three year terms as an elected Director and therefore is not eligible to re-nominate as per the Election Rules.
For more information on our board members, biographies and board composition refer to PRI Board members.
2023 PRI Board annual election timetable
Date | Action |
---|---|
22nd May |
Start of ‘exclusivity period’. Invitation for candidates from asset owner signatories headquartered in Africa and Asia. |
16th June |
End of ‘exclusivity period’. Deadline for nominations for candidates from asset owner signatories headquartered in Africa and Asia. |
19th June |
Formal publication of the election notice and invitation for signatories to nominate candidates:
|
11th August |
Deadline for nominations. |
13th September |
Announcement of the election candidates at the Signatory General Meeting. |
20th September |
Election voting opens. |
1st December 17:00 GMT |
Election voting closes. |
8th December |
Board announcement of the election results. |
1st January 2024 |
Start of term for the new Directors. |
Director expectations
Directors are nominated by a signatory organisation and elected by signatories, from a signatory category, but have a responsibility to fulfil their duties as an individual and in the long-term interests of the PRI as a whole.
Term duration
The successful candidates in the election are elected for three-year terms and are expected to serve from 1 January 2024 to 31 December 2026. No Director may serve for more than three consecutive three year terms as an elected Director.
Time allocation
The Board currently has a mixture of online and in-person Board meetings. For 2024, there are three in-person Board meetings planned lasting 1.5 days each, and five additional virtual meetings.
The expectation is that Directors will participate in every meeting. All Directors are asked in advance for their availability for the meetings. Directors are expected to dedicate additional reading and preparation time leading up to meetings. The time commitment is approximately 12-14 days including meetings, preparation, but excluding travel.
Board members are typically appointed to between one and three Board committees. The six committees (Finance, Audit and Risk; Governance; People and Culture; Policy; Reporting and Assessment Framework Oversight; Signatory Experience and Value Proposition) facilitate the discussions and workings of the Board and are critical to the effectiveness of the Board. The workload of each committee is varied, but on average a committee will have three or four 1.5-hour conference online meetings per year. The expectation is that each committee member will participate in every respective committee meeting, with a requirement to participate in a majority of meetings of that committee in a calendar year.
Attendance at online and/or in-person planned and ad hoc Board meetings, committee meetings, and conference calls will be recorded in the annual PRI Board report and on the PRI website.
Expenses
The PRI is a not-for-profit organisation and does not compensate elected Directors. There is however a set travel allowance for the travel expenses of Directors that attend in-person meetings.
Refer to following rules, policies and terms of reference:
- Directors Terms of Reference for information on the role and responsibilities of the Directors.
- Election Rules for information on relevant articles, election timetable, campaigning, and voting.
- Board Diversity Policy for information on PRI’s equality, diversity, and inclusion.
- Code of Ethics for information on PRI Board guidance on the professional standards expected from PRI Board members.
- Articles of Association of PRI Association for information on PRI’s governance and operations.
- PRI Board members for information on our Board members, biographies and Board composition.
Further information
For more information regarding the PRI Board election, email governance@unpri.org.
Downloads
Adam Davies
PDF, Size 0.18 mbJohannes Feist
PDF, Size 0.17 mbKamal Mitha
PDF, Size 0.16 mbKudakwashe Mukova
PDF, Size 0.16 mbLaurence Vigeant-Langlois
PDF, Size 0.14 mbLebogang Mokgabudi
PDF, Size 0.16 mbSonja Cecile Saunderson
PDF, Size 0.16 mbTorben Möger Pedersen
PDF, Size 0.19 mbTycho Sneyers
PDF, Size 0.19 mbAlessandra Festini
PDF, Size 0.16 mbMmakeaya Magoro Tryphosa Ramano
PDF, Size 0.12 mbAnita Clemons
PDF, Size 0.22 mbCatherine Bolger
PDF, Size 0.16 mbJonathan Grabel
PDF, Size 0.15 mbEric Bruguiere
PDF, Size 0.14 mbTakeshi Kimura
PDF, Size 0.33 mbCarina Wessels
PDF, Size 0.17 mbCandidate Statement 15092023
PDF, Size 0.14 mbSignatory voting 2023
PDF, Size 0.59 mb
References
[1] Vote to receive the PRI Annual Report and Accounts. The PRI will lay before each Signatory General Meeting (SGM) the Company’s latest annual accounts; any reports that the Company or its officers are required to make in respect of such accounts; and (unless the Company is at such time exempt from audit) the auditor’s report on those accounts and reports. The Company will provide the Signatories with an opportunity to receive such reports and accounts by way of a vote carried by a simple majority of those voting in an Electronic Poll.
The PRI Executive is responsible for preparing the annual accounts. The Finance, Audit and Risk committee has oversight of the financial reporting and audit processes and regularly reports to the Board. The audited PRI annual accounts are approved by the PRI Board and signed by the Chair. All PRI signatories have information rights and have the right to vote to receive the annual report and accounts. Signatories are not asked to approve the accounts as this is the responsibility of the Board. Signatories can ask questions on matters which are related to the accounts. The PRI Association is a company limited by guarantee and does not have a share capital.