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Quick CO: The Principles for Responsible Investment (PRI) were develped by
UNEP Finance Initiative and the UN Global Compact to promote
responsibility and good corporate governance.
Does the shift of
terminology from Socially Responsible Investment to Principles for
Responsible Investment matter? Vague principles are common in voluntary standards, but clearer language to create enforceable standards would be beneficial.
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Principles for Responsible Investment hit $8 trillion mark on first year anniversary
April 29, 2007
(CSRwire) The Principles for Responsible Investment (PRI) initiative, convened by the
United Nations Environment Program Finance Initiative and the UN Global
Compact, announces this week on its first anniversary that it has achieved
over 180 leading institutional signatories from all round the globe,
representing in excess of US$ 8 trillion in assets under management. ...
One of the most exciting initiatives is the PRI Engagement Clearinghouse,
which is the first global collaborative forum for investors to work
together and share knowledge and resources to take action on ESG issues.
This has already proved an effective method of raising awareness and
gaining support from other signatories for investor activities,
particularly internationally, focusing on issues such as climate change,
executive remuneration, transparency, investment in sensitive regions, and
other key challenges.
The PRI initiative was established as a framework to help investors
achieve better long-term investment returns and sustainable markets
through better analysis of ESG issues in investment process and the
exercise of responsible ownership practices.
A full list of signatories to the Principles for Responsible Investment is
available from http://www.unpri.org/signatories/
The Principles themselves can be found here:
http://www.unpri.org/principles/
What does implementation of the PRI actually mean?
Last Tuesday, UNEP FI and UKSIF launched a report, "Responsible investment
in focus: How leading public pension funds are meeting the challenge". The
report includes fifteen pension fund case studies, most of which focus on
PRI signatories, on the responsible investment rationales and strategies
of leading public pension funds. These case studies highlight many of the
ways in which signatories are implementing the types of activities
outlined in the PRI. The report may be found here:
http://www.unepfi.org/fileadmin/documents/infocus.pdf
Also, the first dedicated PRI Report was released by a signatory, Insight
Investment, outlining the specific steps they are taking towards
fulfilment of their commitments under the PRI. This report is available
here:
http://www.insightinvestment.com/Responsibility/investor_responsibility_home.asp
Partner UN agencies
United Nations Environment Program Finance Initiative
www.unepfi.org
UN Global Compact
www.unglobalcompact.org
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