A race to the top and a clear rulebook improve results
A meaningful commitment
We welcome signatories from around the world, big and small, investing across different asset classes. And although our signatory base is extremely diverse, it is united by one thread: becoming a PRI signatory means publicly committing to advancing responsible investment and reporting on responsible investment activities and progress.
Membership of the PRI must always be meaningful and never just a badge. Ensuring that signatories are held accountable will empower us to recognise the leaders, and support those that are lagging behind. When signatories report, they do so on both voluntary and mandatory indicators – we were pleased to see an increase in those both reporting and disclosing on voluntary indicators.
Setting minimum standards
Following a signatory consultation on strengthening accountability, which showed overwhelming support for introducing more stringent measures, we have implemented minimum requirements for existing and future asset owner and investment manager signatories. Using an agreed methodology based on the information reported to us by signatories, we have identified and notified signatories that are not meeting minimum requirements for ongoing membership. We will confidentially engage with them over a period of two years to support their progress and understand any material barriers. If, after two years, signatory organisations have yet to address these requirements, as a final resort, they will be delisted.
To recognise those signatories where responsible investment activities are advanced and acknowledge the variety across our global signatory base, we will highlight different leading practices through leadership resources and individual awards. We will showcase good practices from publicly reported information, using our online tools, to support learning and sharing. The areas of focus will be aligned with the Blueprint and change each year to highlight different areas of work, recognising practices from different types of signatories to ensure the best opportunity for peer to peer learning.
To recognise individual and project contributions alongside organisational excellence, we will invite signatories to submit entries to the inaugural PRI awards, to be presented at PRI in Person in Paris, in 2019.