The PRI is set to implement minimum requirements for membership in 2018 alongside ways to highlight leadership and best practice.
The increased accountability of the PRI is one of the focus areas of our 10-year Blueprint for responsible investment.
The PRI’s consultation paper in December 2015 returned strong signatory support for using reporting and assessment data to:
- increase peer review and publicly differentiate signatories at different stages of responsible investment implementation;
- provide additional transparency;
- give a clearer picture of responsible investment trends.
Most signatories responding to the consultation were in favour of the PRI delisting signatories whose progress in implementing the Principles is not sufficient to meet a basic criteria of being a signatory, as defined by the PRI.
- The PRI will develop the basic criteria with input from the R&A Advisory Committee, Stakeholder Engagement Committee and the Board.
- Once the methodology is finalised and made public in 2018, a confidential list of signatories will be compiled from the 2018 reporting data and those that fall into it privately notified.
- The PRI will engage with these signatories through a structured support plan to facilitate them making the required progress to meet the basic criteria.
- Delisting would be the final measure if a signatory fails to meet the minimum requirements in the given period (likely to be two-to-three years) and following an impartial review of circumstances.
Most signatories responding to the consultation were in favour of the PRI differentiating signatories that demonstrate leadership in implementing the six Principles.
- The PRI will develop the methodology for identifying leadership with input from the R&A Advisory Committee, Stakeholder Engagement Committee and the Board.
- All signatories can input through the public consultation before the Methodology is made public in 2018.
- The leadership report will highlight, and share, good practices being carried out by different types of Signatories.