UN PRI consultation response
Consultation Response: un principles of responsible investment – recognising diversity, strengthening accountability
The six principles of responsible investment were launched with the backing of the UN in 2005 and now have over 1,500 signatories from across the investment industry.
Feedback to the PRI executive’s 2015-2018 strategic plan identified varying levels of commitment to responsible investment, and suggested that PRI accreditation was being used by some signatories as a marketing device.
The PRI subsequently issued this consultation to consider how they could better recognise the different stages that signatories are at in their progress towards becoming responsible investors and the ways in which the PRI can support and verify whole-hearted compliance with the spirit of the principles.
Many pension funds rely on PRI accreditation to ensure that their members’ money is being invested in a responsible and ethical way. As such, we are supportive of measures intended to ensure more accountability of PRI signatories, and greater differentiation between signatories demonstrating varied levels of compliance. However, we are also keen to ensure that there is appropriate training and support made available for those signatories and prospective signatories that want to improve.