The following update outlines key changes to be made to the PRI’s reporting process for the reporting season in May 2023 and expands on the content of PRI’s annual Signatory General Meeting, on 13 & 14 October 2022. For those unable to attend the meeting, a recording of the session is available here.
- Investor signatories (investment managers and asset owners) should expect to see a reduction in the number of indicators they are required to report on. The reduction in indicators reported on will vary based on individual signatories’ circumstances. This is due to streamlining of the reporting process and is based on signatory feedback.
- Asset owner signatories will no longer report in the asset class modules on investment decision-making for internally managed assets. They will still report on stewardship for those assets, including (proxy) voting if applicable, in other modules.
Target timelines for 2023 reporting:
- The 2023 Reporting Framework will launch in January. The framework will contain full details of all the reporting criteria for the 2023 season.
- The 2023 reporting cycle itself will open in mid-May and will close in mid-August.
- All 2023 reporting outputs, including both Transparency and Assessment Reports, will be available in November.
These changes have been made with a view to curating the most effective reporting process for signatories and are based on extensive signatory feedback and content updates, with a view to optimising the efficiency of the process for signatories, as well as on PRI’s own learnings gathered over the last year.
As previously communicated, PRI has taken the decision to move the 2023 reporting season out of Q1 of 2023, in order to allow signatories time to prepare for the reporting season and to ensure that PRI delivers a fully optimised and effective process. The PRI does not currently foresee the requirement to adjust these timelines but wishes to assure signatories that, should these circumstances change, signatories will receive ample notice.
PRI will follow this announcement shortly with additional information on the rationale underpinning these decisions. We remain committed to updating signatories on further changes to reporting in 2023 at the earliest possible opportunity. Please contact [email protected] with any questions on the above updates.