Regulation database

PRI’s regulation database documents existing reponsible investment policy. It covers 500 policy tools and market-led initiatives where economic, social, and governance (ESG) factors have been considered alongside investment.

The data is derived from a review of existing databases, primary research by the PRI’s policy team, and interviews with market stakeholders including investors, stock exchanges, regulators, and industry associations.

Each entry in the database includes:

  • the year of implementation;
  • the authority responsible;
  • whether the measure is voluntary or mandatory; and
  • if it addresses ESG issues in isolation or in combination.

There is also commentary on the key clauses relating to ESG factors and investment.

Data is grouped by:

  • ESG regulation targeting pension funds;
  • Stewardship codes;
  • ESG integration requirements for the wider investment chain; and
  • corporate disclosure guidelines.

View the full methodology

This data was updated September 2019. Please be aware this database should not substitute for your own due diligence. For corrections, additions or to request a copy of the database, please email academic@unpri.org. If you intend on using the information externally, we kindly request to know how you will use it and for PRI to be credited. If you have any questions, please let us know.

2016 report

The database is based on the 2016 report, "The Global Guide to Responsible Investment Regulation", which focusses on the perceptions of the investor community to draw conclusions about the impact of regulation on investment practice. Through quantitative analysis and interviews with investors, stock exchanges, policymakers and regulators, we found:

  • responsible investment policy is widespread and the pace is increasing;
  • there’s evidence that responsible investment policy is driving better ESG performance by companies;
  • policy effectiveness is hampered by weak implementation and weak signals;
  • despite the increase in sustainable finance regulation, most governments aren’t connecting sustainability and capital markets policy – but there are signs this is beginning to change.

2019 update

Across the world’s 50 largest economies, the PRI finds that there have been over 730 hard and softlaw policy revisions1, across some 500 policy instruments, which support, encourage or require investors to consider long-term value drivers, including ESG factors. Of these top 50 economies, 48 have some form of policy designed to help investors consider sustainability risks, opportunities or outcomes.

Sustainable finance policy is a 21st century phenomenon. Of the revisions identified by PRI, 97% were developed after the year 2000. The pace continues to increase – the PRI has identified over 80 new or revised policy instruments in 2019 so far. This continues the trend identified when the PRI first published its database of global sustainable finance policy in 2016.

Further discussion on sustainable finance policy is set out in the PRI’s white paper, "Taking stock: Sustainable finance policy engagement and policy influence" (2019).

Cumulative number of policy interventions per year

cumulative_number_of_policy_interventions_per_year

Source: PRI responsible investment regulation database

MSCI logo

MSCI and MSCI ESG Research contributed data and ratings information to the 2016 report