The reporting process

When can we start reporting?

In 2023, signatories will have a three-month window from 14 June until 6 September to submit their report. Signatories can already start preparing by using the Reporting Framework modules and guidance published on the PRI website.

Will our report be assessed/scored by the PRI?

The PRI only assesses investors’ reports. Scores continue to be confidential and provided per module or per asset class/sub-strategy. The PRI does not provide an overall organisation score.

How long does it take to report?

This will vary based on the type of signatory (investment manager or asset owner) as well as the organisation’s size, structure and asset mix, which will determine which modules must be completed and what information flow and data tracking systems are in place.

How can I contact the PRI for reporting-based queries?

Send an email to reporting@unpri.org.

Can I report in another language?

The official reporting language for the PRI is English. An English translation should be provided for any text entered in other languages.

What happens if my organisation is delisted?

Signatories required to report on a mandatory basis that do not submit their reported data by the deadline will be entered into the delisting process. Their names will be included in the PRI’s Annual Report and failure to report will be indicated as the reason for delisting. A signatory can only relist after they have completed their last reporting requirement, and the grace year will not apply again.

If a signatory chooses to delist during the reporting cycle (including because they do not wish to complete the Reporting Framework), their account will be suspended when they have delisted. Previously submitted reports that have been published will remain on the Data Portal (under category “delisted”) but the organisation will cease to have access to this platform.

All submitted data will be retained in the PRI’s public and private databases. This is covered by the terms and conditions of the Reporting Tool. The PRI databases, including data from delisted signatories that submitted reported data, will be used to produce the aggregate statistics used in PRI data outputs such as snapshot reports and assessment analysis reports. Only active signatories will receive a copy of their Assessment Report.

The PRI has traditionally provided a one-year grace period with no required reporting and assessment to new signatories. Will this grace period change?   

Signatories that would have reported voluntarily in 2022 will have their grace period extended to 2023. As in previous years, new signatories joining in 2023 will be provided with the one-year grace period.   

Which year’s data will signatories report on when reporting re-opens in 2023?

As in previous years, signatories will be able to specify the 12-month period they report on. The reporting year may be the normal financial reporting year or a period that has been selected specifically for the purpose of reporting in the PRI Reporting Framework. Most signatories report on the most recent 12-month period and would, therefore, in the 2023 reporting cycle, report on their practices during 2022.

Do larger signatories have an advantage over smaller ones when reporting? If so, then what apparatus is in place to mediate this?

Due to the nature of PRI’s diverse signatory base, the Reporting Framework has been designed to capture practices irrespective of an organisation’s progress towards its responsible investing journey as well as in terms of its size. In addition, the PRI’s assessment methodology does not promote any specific investment strategy or engagement method – its aim is to showcase best practices in responsible investment across asset classes worldwide.

Signatories also have the option to filter for other signatories’ reports by size on the Public Reports page, as well as utilise the Customise Peer Function in the Data Portal to view other relatively smaller signatories and the practices they are engaged in.   

How does PRI verify the accuracy of submissions?   

Because the PRI is not a regulatory body, we do not actively validate the accuracy of submitted data. However, we do have several steps in place to reduce reporting errors and enhance the credibility of PRI data:   

• Reports are made public.  
• The Reporting Framework includes questions on confidence building measures a signatory has taken to ensure credibility of reported data    

Signatories are also welcome to demonstrate or improve the credibility of the information they report through any of the following measures:   

• Soliciting third-party independent assurance of selected processes and/or data related to their responsible investment processes, resulting in a formal assurance conclusion.
• Undergoing a third-party readiness review and making changes to internal controls/governance or processes in preparation for an external assurance review.   
• Conducting an internal audit of selected responsible investment processes/and or data reported to the PRI.  

Will there be any changes to the reporting outputs (public and private Transparency Reports and Assessment Reports)? 

The PRI will continue to provide signatories with reporting outputs, including private and public Transparency Reports and Assessment Reports, as these are the main tools they use for learning and internal communication, as well as benchmarking progress. Assessment Reports will continue to be completely confidential and shareable at the signatory’s discretion.

Can signatories select their own peering groups?

Yes, signatories can select their own peering groups. This functionality is available in the Data Portal. Please see our Data Portal guide  (PDF) for more information.

I am new to reporting. How do I access the Reporting Tool?

Fill in the Registration form and tick the ‘Request access to Reporting Tool’ box. You will receive an activation link within one hour.

The Admin user(s) of your organisation will need to invite you to access the Reporting Tool. For more information, see our Permissions System  (PDF) guide.

Please note that the Reporting Tool will only be open during the live reporting period.

I forgot my password for the Reporting Tool. How do I get a new one?

Enter your email address on the Forgotten password screen to reset your password.

Will I be required to re-register to use the new Reporting Tool? 

To avoid disruption, users of the reporting platform should check that they have access before the start of the reporting cycle. Each signatory’s Admin user(s) will have access to the Permissions System, where they can approve, deny or revoke a user’s access. Any new users will be invited by their Admin user(s) before they can access the Reporting Tool. Read our Permissions System  (PDF) guide for more information.

How does the PRI develop Reporting Framework modules?

The PRI regularly updates the Reporting Framework to ensure that it reflects best practice and allows signatories to report on their RI activities. Occasionally, modules in the Reporting Framework need to be changed more extensively to reflect updates in the investment industry. Changes to the PRI Reporting Framework will be made for the following reasons:

• To clarify points of confusion or provide improved guidance to signatories;
• To support a more robust assessment methodology;
• To facilitate better analysis of the data;
• To strengthen accountability;
• To respond to input from the PRI Board.

What processes are involved when making changes to the Reporting Framework?

When making changes to the Reporting Framework, the PRI:

• Reviews signatory input. This includes feedback from calls, meetings, FAQs and free text answers in the Reporting Framework, among others.
• Consults with the Reporting and Assessment Advisory Committee, working groups, other advisory committees and groups of engaged signatories who provide direct feedback.
• Reviews internal information, including data analysis and a review of current practices.
• Launches signatory consultations. Changes to mandatory frameworks, modules or sections of a module require signatory consultation. Where new content is voluntary, the PRI uses the first voluntary year to collect feedback and consult with signatories. However, minor changes to wording and explanatory notes, or moving indicators from one place to another will not require signatory input.

How was the PRI Reporting Framework developed?

PRI reporting was introduced in 2006 under a self-assessment model.  However, following an extensive consultation , the reporting and assessment process was developed to ensure signatory responses were more robust. Signatories were involved in the design from the outset and in the governance bodies and committees that oversaw its development.  

A pilot version of the Reporting Framework was launched for signatory testing in June 2012 – for the first time signatories reported on ESG incorporation. Then, 2021 saw the launch of a pilot that emphasised reporting on the depth of ESG incorporation and, for the first time, reporting on sustainability outcomes. In 2023, we have made improvements based on signatory feedback to the 2021 pilot, balancing feedback received with the PRI’s overall mission and ensuring we remain signatory-centric. We have focused on making changes to improve clarity, improve consistency, and reduce the reporting effort for signatories.

Why was 2021 a pilot year for the investors Reporting Framework?

In consultation with signatories, the PRI went through an extensive review of the Reporting and Assessment processes between 2018 and 2020, and set the ambitious objective of launching a completely new investor Reporting Framework together with a new reporting tool.

The new investor Reporting Framework and Tool was piloted in 2021 and we have used feedback from the 2021 reporting cycle as a learning opportunity to identify any improvements. We will continue to evolve reporting based on signatory feedback, balancing this with the mission of the PRI.

To inform the key improvement areas, during the 2021 pilot reporting year, PRI signatories had the opportunity to provide input through a built-in feedback function in the Reporting Tool and the support that they received during the 2021 reporting cycle.

Why do we have to disclose our AUM? 

The PRI requires that signatories provide an AUM figure upon joining and then every year they complete the Reporting Framework. We use this information in a number of ways: 

• To assign the correct fee band to signatories,
• To calculate the overall PRI signatory AUM,
• To create peer groups for the assessment of signatories, and
• For signatory segmentation activities, including calculating the size of asset class allocations.

If signatories find themselves unable to comply with the disclosure requirements of an indicator, they may lodge an appeal with the PRI. Appeals are not expected to be needed except in rare situations. If you have a query about this process, please email us at reporting@unpri.org. 

When can we appeal? 

As a guideline, signatories may appeal where disclosing their organisation’s response to a particular indicator would:   

• Conflict with local legislation or regulation.
• Conflict with a pre-existing company policy (for example, a non-disclosure policy that is not specific to ESG issues). Appeals of this type will be considered, but are less likely to succeed where the policy jeopardises a signatory’s ability to fulfil Principle 6, We will each report on our activities and progress towards implementing the Principles.
• In the cases of some signatories who are not able to be transparent in regards to their AUM figure for confidentiality reasons.

Signatories may not appeal on the following grounds:

• General non-disclosure policies relating to ESG information. Reporting and disclosing responsible investment activities is a requirement of being a PRI signatory.   
• Disagreement about the form or structure of a particular indicator. In these cases, signatories should provide feedback to PRI directly via the Reporting Tool.  

Signatories may lodge an appeal by sending a letter on their company letterhead to reporting@unpri.org, detailing the indicator(s) affected and the reasons for the appeal. Signatories wishing to appeal should continue to complete the framework but should not submit their responses.   

When reviewing appeals, the PRI will be advised by the Reporting and Assessment Advisory Committee (RAAC), made up of signatory representatives approved by the PRI. The RAAC has particular expertise in the field of responsible investment reporting and assessment.   

The PRI will contact signatories directly to inform them of the decision about their appeal. If granted, the Transparency Report will not contain the information that has been appealed.   

Signatories can request that a previously granted appeal applies to their following year’s response. To do so, they should contact reporting@unpri.org during the reporting period. The PRI will confirm the appeal status.