A Legal Framework for Impact

A Legal Framework for Impact, a ground-breaking report, set out to clarify how regulators in 11 jurisdictions view “investing for sustainability impact”, which involves the use of investment powers, stewardship and engagement with policy makers to produce assessable positive sustainability impacts.

The report is aimed at providing concrete support to impact investors, and mainstream investors wishing to invest for sustainability impact. A joint effort by the PRI, UNEP FI, the Generation Foundation, and Freshfields Bruckhaus Deringer, it contains analysis of laws around the world and demonstrates that investors should feel empowered to set impact goals and measure their progress against them.


A Legal Framework for Impact

A joint work programme from PRI, UNEP FI and the Generation Foundation

LFI JAPAN_Hero_main

Japan: Integrating sustainability goals across the investment industry


Many Japanese investors remain unaware of the extent to which they are permitted or required to invest for sustainability impact. This report sets out five policy recommendations to clarify this question, ensure better investor access to sustainability information, and enhance transparency and market discipline.

LFI CANADA_Hero_main

Canada: Integrating sustainability goals across the investment industry


Canadian investors may be interpreting their legal duties in ways that discourage them from considering sustainability impact goals, even where pursuing such goals can help them discharge their duty to achieve financial returns.

Policy briefings

Policy briefing: Sustainability outcomes workshop


At the PRI’s Sustainability Outcomes Forum in Australia, October 2023, signatories came together to share their experiences and practices in pursuing sustainability outcomes.

Legal framework for impact: Briefing for policy makers


Financial investments drive real-world outcomes on issues such as climate change, sustainable development and human rights – whether the impacts are intended or not. Investors increasingly recognise that financial returns depend on the stability of social and environmental systems, especially in the long term. This is driving investors to increasingly ...




Investing for sustainability impact: changes needed in EU policy framework

Alina Neculae, Senior policy analyst, EU and France, Policy, PRI

Legal framework for impact_Climate-financial regulation_hero

Legal Framework for Impact: embedding climate action in financial regulation

By Freya Bannochie, Policy Analyst, UK, PRI, and Laxmi Aeshwarya Kumar, Project Specialist, UNEP FI