As communicated in the Board Letter last August, the PRI committed to improve the quality of 2021 outputs and engage in a comprehensive data collection and review process. As a result, the 2021 reporting outputs were released in stages following a comprehensive review. 2021 reports are now available to access in the Data Portal.
For the 2021 reporting cycle, the PRI piloted a new reporting system for signatories that was designed to streamline and improve the reporting process. We received feedback from over 1,700 signatories on the new Reporting Framework and Reporting Tool. Issues with specific areas in the reporting system resulted in some signatories not being able to submit a full and complete dataset, affecting the 2021 data quality.
In response to the feedback obtained and the issues identified, we assessed the changes made to the reporting process and revaluated how to improve this process to better meet signatories’ needs. To complete this review process and improve the quality of 2021 outputs, we took a staged approach to releasing 2021 reporting outputs, thereby delaying the next reporting cycle until 2023. Please read our CEO and Chair letter for further detail.
Since then, the PRI has:
- Worked with a recognised external provider to identify and validate missing data in signatories’ 2021 reports;
- Released private Transparency Reports in the new Data Portal, and informed signatories of missing data and indicator errors specific to their reports;
- Worked with signatories to collect missing data;
- Implemented changes to signatories’ 2021 reports in the Reporting Tool;
- Gathered feedback from signatories about issues in the new Data Portal;
- Implemented new Data Portal testing mechanisms;
- Worked with an external consultant to conduct quality assurance of amendments made to signatories’ 2021 reports.
Launch of 2021 pilot outputs
The PRI released the 2021 reporting outputs in stages. Signatories’ private Transparency Reports were first released in October 2021 for review, and re-released in their amended forms in March 2022.
The 2021 private Assessment Reports (for investors) and public Transparency Reports (for investors and service providers) launched in September 2022, and are available to access in the Data Portal. Outputs are based on the finalised 2021 reporting dataset, and have been released alongside an updated 2021 assessment methodology.
The 2021 outputs are part of the 2021 pilot reporting year, and we have taken feedback gathered on 2021 to inform our ongoing work for developing a more effective and efficient reporting system in 2023 and beyond.
A sincere thank you to all those who reviewed their 2021 private Transparency Reports in the Data Portal for data errors. Your collaborative efforts have helped PRI improve the quality of 2021 outputs, and identify improvement areas with the new Data Portal.