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Dear signatories,

The critical role of responsible investment has never been more evident, and we remain committed to supporting you, our signatories, on your engagement in sustainable investment. In the following pages, you will find highlights from the first three months of the year, including updates on our key initiatives.

As the war in Ukraine continues, the PRI joins the international community in great compassion for the people of Ukraine. I shared a statement on the Russian invasion of Ukraine early in the conflict here, we published a climate policy response and the Inevitable Policy Response has issued a specialist report on the initial implications. Given the evolving dynamics of the war, we will adapt our resources to keep you informed of the implications for responsible investing.

Reporting and Assessment (R&A) continues to be a top priority. We released the amended private Transparency Reports via the Data Portal giving signatories two weeks to flag potential concerns. In June, we will release the public Transparency Reports and Assessment Reports. As ever, for the latest updates, please visit the R&A updates page here.

With responsible investment moving firmly into the mainstream, investors have a growing responsibility to act on diversity, equity and inclusion (DEI). So, to assist them with their DEI engagement we have published Diversity, equity & inclusion: key action areas for investors. This paper outlines how and why investors should contribute to equity for all and illustrates the business performance and social benefits of fostering inclusive corporate cultures, business models and societies by integrating DEI into investment and ownership decisions.

To further assist investors with their responsible investment approaches, we have also published an updated due diligence questionnaire for hedge fund investors, and listed equity investors.

PRI continues to grow alongside the momentum of responsible investment around the world. In the last quarter, we welcomed 219 new signatories to the PRI including 13 asset owners, with global signatories now over 4,900.

Finally, please save the date for PRI in Person taking place between 30 November and 2 December 2022 in Barcelona. For the first time, we will be hosting a hybrid event and offering signatories the option to attend the conference online. Delegate ticket sales will open in May 2022, and we look forward to welcoming you to the conference!

Best,
David Atkin

Executive summary

Flagship programmes

In response to the Russian invasion of Ukraine, we issued a climate policy response and the Inevitable Policy Response issued a specialist report on the initial implications. Following on from COP26, the PRI is working with signatories to provide feedback on the IFRS draft reporting standards on climate and general sustainability.

Initiatives, tools and resources

We released amended private Transparency Reports to via the Data Portal and gave signatories two weeks to flag potential concerns. We also launched an investor’s guide to diversity, equity, and inclusion, as well as DDQs for hedge fund investors, and listed equity investors, and continued our regional webinar series on the Legal Framework for Impact.

Signatory update

We added 219 global organisations as new signatories, including 13 asset owners, in the last quarter. The PRI now has 4,902 signatories, representing US$121tn of AUM. New signatories include Utmost group, NFU Mutual, Caisse de prévoyance de l’Etat de Genève (CPEG) & Quonota Investments Ltd, our first asset owner from Cyprus.

Organisation update

The PRI issued a statement that condemned the Russian invasion of Ukraine. Behind the scenes, we are working on PRI in Person & Online to be held in Barcelona in late 2022, and expect to open registration in May.We began recruiting for a Chief Reporting Officer and a Chief Operations Officer.