By David Atkin, CEO, Principles for Responsible Investment
Time flies, and we have reached the halfway point of 2025. In my previous blogs, I wrote that responsible investors were facing a volatile and uncertain operating environment, and this has remained the case over the first half of the calendar year.
From my perspective, the geopolitical environment continues to shift beneath our feet—marked by heightened security concerns in Europe and broader global uncertainties—creating a level of ambiguity that none of us can ignore. Conflicts rage in Ukraine, Sudan and increasingly across the Middle East. Politically, whilst the US context dominates global discourse, recent elections in markets as varied as Canada, Australia, Germany, Romania and Poland resulted in leaders from across the political spectrum taking office. Elections and conflicts, by their nature, generate significant public discussion and media attention. But I believe that responsible investors, with a long-term lens, are looking beyond immediate events, to how they can continue to generate returns for their beneficiaries into the future.
Across India, China, Australia and Europe, I met local stakeholders and PRI signatories who are pressing ahead with their responsible investment practices
Developing responsible investment ecosystems across regions
My travels over recent months have reinforced this belief. Across India, China, Australia and Europe, I met local stakeholders and PRI signatories who are pressing ahead with their responsible investment practices, and regulators who welcomed engagement with the PRI, as they consider how best to support growing responsible investment ecosystems in their jurisdictions. In New Delhi, I met local stakeholders and policymakers, including the Ministry of Finance, the National Investment & Infrastructure Fund, and the pensions regulator; in Beijing, I was invited to meet with the Chair of the National Council for Social Security Fund; and in Brussels, I met with the EU Commissioner for Financial Services and the Savings and Investments Union, alongside MEPs and other stakeholders. Whilst all were mindful of global challenges, we were able to advocate for ambitious and workable sustainable finance frameworks that deliver decision-useful data for investors.
Responsible investment maturity curve continues
Our own PRI reporting data from 2024 also shows that the maturity curve is continuing – investors are expanding their responsible investment practices, with the aim of enhancing risk-adjusted returns. Asset owners are demonstrating greater ambition and action, and investment managers’ approaches to RI are becoming more granular. Action in private markets is continuing to expand, and social issues are rising up the agenda. At the same time, more investors are taking action to address climate-related risks and opportunities. Our 2025 reporting cycle is well underway, and I look forward to seeing what the data will tell us this year. Looking further ahead, we’ll be significantly streamlining PRI reporting, and introducing Pathways – voluntary educational journeys that you can follow using our customised approach, or explore more freely.
Asset owner action remains key
For me, asset owner action has been another theme of the past few months. Our own PRI European Asset Owner Forum in The Hague gathered 56 organisations for peer-to-peer discussions on the most pressing challenges they face in the current operating environment, and yielded valuable insights on common barriers that asset owners face when engaging on sustainability issues. Elsewhere, at a conference hosted by the International Forum of Sovereign Wealth Funds, I heard how SWFs are integrating sustainability into their investment strategies as a driver of long-term value. It was truly encouraging to experience the momentum behind responsible investment among these influential funds.
Asset owners will have other opportunities to convene throughout the year, with dedicated PRI gatherings this week during London Climate Action Week, and in September at New York Climate Week. Looking ahead to November, we have added a Global Asset Owner Forum to our PRI in Person conference in São Paolo. The conference is shaping up to be a highly impactful event, with immediate proximity to COP30 and strong engagement from the COP Presidency. The agenda is live and registration is now open, and I hope to see many of you there.
The PRI is at something of an inflexion point this year, as we move towards our 20th anniversary in 2026, and I prepare to pass the baton to my successor as CEO. There may be some shifts – as defence grows in prominence as an investor issue, or artificial intelligence redefines the way we work – but my overriding sense is that globally, the work goes on. This week we’re heading into a packed programme at London Climate Action Week, next week the 4th International Conference on Financing for Development will convene in Seville, and in July I’ll be on the road again, connecting with the sustainable finance ecosystem in South Africa and Kenya.
Responsible investment is as essential as ever, and our strength is in our global community that recognises this fundamental fact.
