Update on reporting

The next reporting cycle will open in mid-May 2023. The 2023 Reporting Framework will be released in January 2023, ahead of the reporting period.

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Why investors are assessed

The assessment aims to fulfil these objectives:

  • Identify how signatories can improve their responsible investment practices;
  • Allow asset owners to focus their discussions with investment managers on responsible investment activities and capabilities by sharing their Assessment Reports; and
  • Facilitate learning and development by outlining how signatories’ implementation of responsible investment compares year-on-year, across asset classes, and with peers at the local and global level by providing a confidential report. 

For more information on how to share your Assessment Report, please see the “Sharing Assessment Reports” FAQs section below. 

Scoring methodology guidelines

The scoring methodology for the 2021 Reporting Framework is based on the following guidelines: 

  • The primary focus remains on a signatory’s responsible investment implementation across their overall investment process, rather than looking only at their investment in ESG products. 
  • The scope of implementation of specific responsible investment practices, for example the percentage of AUM covered. 
  • The level of sophistication of the responsible investment practice for the majority of AUM. 
  • Increasing the focus on consistency, including how group policies are applied in different asset classes or sub-categories, or how policies are implemented by external managers or service providers. 
  • Having more clarity on the timeframe of practices carried out. 
  • The inclusion of some outcomes-related questions in the assessed ‘core’ indicators. 

2021 Assessment Methodology

2021 ASSESSMENT METHODOLOGY

Scores continue to be confidential, and be provided per module or asset class, with no overall organisation score given.  

 The assessment methodology has evolved to reflect the changes in the Reporting Framework, in particular: 

  • Only ‘core’ questions – which are close-ended questions, mandatory to report on, and to publish – are assessed. 
  • The modules are scored with a numerical grading system ranging from 1 to 5 stars. The lowest possible grade is one star, allocated to those whose responsible investment behaviour is at the lower end of what is expected from signatories. The highest score is five stars and awarded to those signatories who demonstrate leading practices within the responsible investment industry.

Assessed modules in the 2021 Reporting Framework will receive one overall module score or one score for each sub-strategy as follows: 

  • Investment and Stewardship Policy, Private Equity, Infrastructure and Real Estate will receive one overall module score.
  • Manager Selection, Appointment & Monitoring, Fixed income, Listed Equity, and Hedge Funds will not receive an overall module score, but a score for each sub-strategy or asset classes.  
  • Stewardship is integrated throughout the Reporting Framework; therefore, it will not receive a separate score. In the specific case of Listed Equity and Fixed Income, each sub-strategy will receive two different scores (when applicable) – one for incorporation and one for voting. 
  • Senior Leadership Statement, Organisational Overview, and Sustainability Outcomes will not receive a module score. 

The indicators are scored on a points-based system, whereby 0–100 points are available per indicator within the initial phase of assessment. A multiplier then is applied to the indicator scores, weighted based on their relative importance with respect to responsible investment practices and/or the PRI’s overall mission. The assessment is calculated by categorising the questions into three distinct classes: “low” weighted questions being multiplied by 1, “moderate” questions by 1.5, and “high” by 2. 

Changes in the assessment methodology from 2020 to 2021

Module scores have moved from alphabetical grading (A+ to E) in 2020 to a new numerical grading system ranging from 1 to 5 stars in 2021, to reflect that scores for the 2021 reporting cycle cannot be compared to those of previous years.  

Indicator scores have moved from 0-3 stars to a more granular, points-based system, whereby 0-100 points are available per indicator within the initial phase of assessment.  

Three distinct classes of multipliers (Low – x1, Moderate – x1.5, High – x2) will apply to all assessed (CORE) indicators. 

More detailed guidance on the indicator-level assessment criteria can be found within the 2021 Reporting Framework.

Frequently asked questions

Assessment process

Are signatories assessed on their responses to the Reporting Framework? 

Yes, we continue to assess investor signatories on their responses to the Reporting Framework. This is based on the new assessment methodology, which can be found here

Will the assessment methodology be public at the launch of the 2021 reports? 

Yes, the full assessment methodology is published on our website, alongside the finalised 2021 public Transparency Reports (for investors and service providers). Private Assessment Reports (for investors) are available for investor signatories to view in the Data Portal. View the 2021 investor reporting guides and modules  for a summary of the indicator-level assessment methodology and detailed guidance on the framework. 

Are the assessment scores confidential? 

Yes, assessment scores remain confidential, unless signatories choose to share their Assessment Reports with clients or external stakeholders. For more guidance on sharing your assessments, see “Sharing Assessment Reports” below.  

Is there a firm-level score? 

The PRI Assessment Reports do not rate signatories at an organisational level. Therefore, you won’t receive a single “general” assessment score for your organisation. There will however be module/asset class/sub-strategy-level scores for each assessed module a signatory completes. 

Will we be able to compare our scores between 2023 and previous years? 

Signatories have provided comprehensive feedback on the 2021 Reporting Framework throughout the reporting process. Since the assessment methodology evolves to reflect the changes in the Reporting Framework, subject to the extent of content and assessment changes required to address the feedback received, 2023 module or indicator scores may not be comparable to 2021 scores. 

Assessment output

Can I opt out of getting an Assessment Report? 

An Assessment Report is generated for each of our reporting investor signatories, along with the Transparency Report. You can choose to not consult or download your Assessment Report but the PRI strongly encourages signatories to consult it, as the reports can facilitate learning and development and help identify methods for improving responsible investment practices. 

I am a first-time reporter. When will I receive my first Assessment Report? 

If you are a new signatory, your first reporting cycle will be a “grace” or voluntary reporting period. If you choose to report in your voluntary year, your organisation will receive an Assessment Report at the same time as mandatory reporters. Otherwise, you will receive your first Assessment Report after your first mandatory reporting year. 

I do not think my assessment scores are correct. Who can I contact

The Assessment Report is based on reported data. Once the reporting period is closed, the PRI scores the most up-to-date response. If you have any questions regarding your assessment results, please contact us at reporting@unpri.org for clarification, detailing the reporting organisation’s name, the indicator in question, and with as much specific information as you can provide on why you disagree with the score awarded. It will not be possible to republish 2021 Assessment Reports, but a written response will be provided to confirm and explain the correct score. Response times will vary depending on the number of queries the team are handling as well as the complexity of the score in question, and will be communicated in our initial response.   

Where can I find information on the scoring criteria, and the Reporting Framework modules? 

You can find information about the scoring criteria and the Reporting Framework modules in the investor reporting guidance

Assessment methodology

Will my organisation receive a general assessment score? 

The PRI assessments do not rate or score signatories at an organisational level. Therefore, you will not receive a single “general” assessment score for your organisation. There will only be module-level scores for each module a signatory completes. 

Does the assessment favour any particular investment strategy or engagement method? 

The assessment does not promote any specific investment strategy or engagement method. Its aim is to showcase best practices in responsible investment across asset classes worldwide. These activities are assessed based on equal value, regardless of whether the process is conducted internally or externally, whether the strategy is screening and/or integration, or whether an engagement is individual, collaborative or through a service provider. 

Can I calculate my own assessment scores? 

The PRI has published the full Reporting Framework which is available here. Using the finalised 2021 Assessment methodology, signatories can calculate their indicator and module level scores, though it is not recommended to do so as the calculations will lead to the same results you will receive in the assessment reports.  

Why does the assessment change over time? 

It is important that the PRI’s reporting and assessment keeps up to date with the fast-moving changes in the responsible investment industry. Therefore, indicators may be added, modified, or even removed to reflect changes in the market, impacting the indicator and/or module-level assessment, as well as the broader assessment methodology. The indicator or module-level assessment may also be adjusted based on signatories’ past performance (e.g., to increase the challenge of high-scoring indicators/modules).

Sharing Assessment Reports

Can I share my Assessment Report? 

You can decide to share your Assessment Report, either with signatories or non-signatories. When sharing any part of an Assessment Report (including individual module scores or sub-strategy scores), signatories must allow the user to find the related full public Transparency Report and full Assessment Report. This is to avoid taking any individual module score out of context (e.g., you must not report a module score as your overall PRI score). Signatories should also consider and be aware of any regulations around sharing or promoting ratings from third-party providers in your jurisdiction. 

We recommend that any score disclosures are made with reference to the full 2021 scoring methodology, which is available on the PRI website, to promote transparency.

How can I share my Assessment Report? 

The PRI’s Publication Guidelines (available in the Assessment Reports) ensure consistent and accurate representation of PRI reporting outputs. These guidelines are included in your Assessment Report. 

Will the PRI share my Assessment Report with other signatories? 

The Assessment Report is confidential – you can choose to publish your Assessment Report, but the PRI will not publish your report without your permission.