The Principles for Responsible Investment (PRI) this week shook on a collaboration agreement with the Global Reporting Initiative (GRI) in the Big Apple.

The agreement reinforces the premise that alignment on corporate reporting and investor expectations of corporate sustainability reporting is a crucial enabler of global sustainable development.

It was signed by the PRI’s managing director, Fiona Reynolds, and GRI’s chief executive, Tim Mohin.

The aim of the collaboration is to advance projects that support wider mainstream adoption of sustainability reporting, with a focus on impact and outcomes. It is also aimed at supporting investor and corporate reporting on the Sustainable Development Goals.

These are areas that the PRI and GRI have already started working on together, as co-conveners of the Stockholm Declaration.

Issuers of sustainability reports relying on the GRI Standards and investors signing up to the six PRI principles represent a large segment of the global economy and capital flows.