PRI collaboration guidelines

PRI principles of collaboration

Key principles:

• Participation in initiatives is voluntary.
• Participation in initiatives is subject to any client mandate and any legal, regulatory, fiduciary or other professional obligations that apply to the participant.
• In the event of any conflict between the participant’s duties and their participation in an initiative, the participant’s duties will prevail.
• Participants are independent fiduciaries and responsible for their own investment and voting decisions.
• Any investment and/or voting decision by a participant is made in their individual capacity and not:
  1. on behalf of the initiative or other initiative members, or
  2. because of their participation in the initiative.
• Each participant retains complete discretion to act independently in the best interests of their organisation, clients and beneficiaries.

Conduct of participants:

• Participants should treat each other and PRI or third-party employees working on the initiative with courtesy and respect.
• Participants must ensure that they are not subject to a conflict of interest in respect of their participation in the initiative.
• Should any conflict of interest arise – either real or perceived – the participant should promptly disclose this to the secretariat for the initiative.
• Participants must ensure they are aware of and act in compliance with relevant laws, and are encouraged to consult their own counsel as appropriate.

Prohibited behaviours:

• The PRI does not seek, require or endorse individual or collective decision-making or action that does not comply with applicable laws.
• Participants must avoid coordination of strategic behaviour that impacts competition.
• The PRI does not seek, and participants must not share or exchange non-public, competitively sensitive information.
• Participants may not claim to represent other participants or make statements referencing other participants without express consent of the latter.