THE PRI 2019/20 WORK PROGRAMME - DELIVERING FOR SIGNATORIES APRIL 2019 - Principles for Responsible ...
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THE PRI 2019/20 WORK PROGRAMME DELIVERING FOR SIGNATORIES APRIL 2019 An investor initiative in partnership with UNEP Finance Initiative and UN Global Compact
2019/20 WORK
PROGRAMME: THE PRI
THE PRI THE PRI’S MISSION
MESSAGE FROM
THE CEO
“We believe that an economically efficient, sustainable global
THE BLUEPRINT FOR financial system is a necessity for long-term value creation. Such
RESPONSIBLE INVESTMENT
OUR STRATEGY AND
a system will reward long-term, responsible investment and
OBJECTIVES
benefit the environment and society as a whole.
OUR PERFORMANCE AGAINST
OUR THREE-YEAR STRATEGY
OUR ACHIEVEMENTS 18/19 The PRI will work to achieve this sustainable global financial
19/20 PLANS
system by encouraging adoption of the Principles and
RESPONSIBLE INVESTORS collaboration on their implementation; by fostering good
SUSTAINABLE MARKETS
A PROSPEROUS WORLD
governance, integrity and accountability; and by addressing
FOR ALL
ENABLING ENVIRONMENT
obstacles to a sustainable financial system that lie within market
practices, structures and regulation.”
JOIN US AT PRI IN PERSON
2019
THE PRI BOARD
SIGNATORY FEES
THE BUDGET
2 22300+
22300+
22300+
2300+
80+
80+ 6
80+ 6 6 6
80+
GET INVOLVED
SIGNATORY RELATIONS
UN PARTNERS:
UN PARTNERS: SIGNATORIES:
SIGNATORIES:
UN PARTNERS:
UN PARTNERS: SIGNATORIES:
SIGNATORIES:
US$ TRILLION:
US$ TRILLION: PRINCIPLES:PRINCIPLES:PRINCIPLES: PRINCIPLES:
US$ TRILLION:
US$ TRILLION:
UNEP
UNEP FINANCE FINANCE
INITIATIVE ASSET
INITIATIVE
UNEP FINANCE UNEP OWNERS,
ASSET
FINANCE
INITIATIVE OWNERS,
ASSET OWNERS,
INITIATIVE ASSET
ASSETS OWNERS,
UNDER
ASSETS UNDER RECOGNISING
ASSETS RECOGNISING
ASSETS
UNDER THE
UNDER RECOGNISING
THE RECOGNISING
THE THE
UN GLOBALINVESTMENT
UN GLOBAL COMPACT
UN GLOBAL COMPACT UN GLOBALINVESTMENT
COMPACT COMPACT INVESTMENT INVESTMENT
MANAGEMENTMANAGEMENT MATERIALITY
MANAGEMENT MATERIALITY
OF
MANAGEMENT MATERIALITY
OF MATERIALITY
OF OF
MANAGERS MANAGERS MANAGERS MANAGERS ENVIRONMENTAL,
ENVIRONMENTAL,
ENVIRONMENTAL,
ENVIRONMENTAL,
AND SERVICEAND SERVICE AND SERVICEAND SERVICE SOCIAL AND SOCIAL AND SOCIAL AND SOCIAL AND
PROVIDERS PROVIDERS PROVIDERS PROVIDERS CORPORATECORPORATECORPORATE CORPORATE
GOVERNANCE GOVERNANCE
ISSUES GOVERNANCE
ISSUES GOVERNANCE
ISSUES ISSUES
2
2019/20 WORK
PROGRAMME: MESSAGE FROM THE CEO
THE PRI Over the last year, we’ve made real progress towards meeting
the goals of our Blueprint for the next 10 years of responsible Climate change remains the
MESSAGE FROM
THE CEO
investment.
number one issue for our
THE BLUEPRINT FOR
RESPONSIBLE INVESTMENT
Climate change remains the number one issue for our signatory
base. To further signal our commitment to climate action, and
signatory base
OUR STRATEGY AND encourage signatories to do the same, we introduced climate
OBJECTIVES
indicators based on the TCFD recommendations to the Reporting To bring the Blueprint to life, our teams have been busy focusing on
OUR PERFORMANCE AGAINST Framework. projects that we feel bring value to our signatories. We released the
OUR THREE-YEAR STRATEGY
final report in our three-part series on ESG in credit ratings and are
We also launched the Inevitable Policy Response initiative, the pleased with the dialogue that we’ve been able to facilitate between
OUR ACHIEVEMENTS 18/19
premise of which is that if investors don’t take much stronger action investors and credit rating agencies.
on climate change now, governments will be forced to take sharp,
19/20 PLANS
swift action, which could destabilise capital markets. Looking past Our work with the CFA Institute on ESG integration continued,
RESPONSIBLE INVESTORS
the physical risks around climate change, we produced guidance highlighting important insights on the barriers that still remain to
SUSTAINABLE MARKETS on why investors should be looking at a just transition for workers looking at ESG issues. We welcomed the EU Sustainable Action
A PROSPEROUS WORLD and communities who will be impacted by the transition from a high Plan as a huge step towards embedding responsible investment
FOR ALL
carbon to a low-carbon world. We also continued working with other into regulation. The PRI helped to lead the development of a
ENABLING ENVIRONMENT
climate groups on the Climate Action 100+ and Investor Agenda classification system on what can be considered an environmentally
Fiona Reynolds initiatives. sustainable economic activity for financial actors, which will
JOIN US AT PRI IN PERSON
2019 CEO, PRI ultimately guide capital flows toward sustainable development.
On the reporting side, we revised our active ownership module
THE PRI BOARD and introduced a new hedge funds module, due to the growth of This year, we’re looking forward to a critical review of the Reporting
responsible investment in this sector. We introduced minimum Framework, our largest-ever planned PRI in Person, the new
SIGNATORY FEES requirements for signatory membership to strengthen accountability Collaboration Platform and signatory hub, eight new flagship projects
and ensure that the PRI is not used as a figleaf. We launched a and an enhanced signatory account management programme.
THE BUDGET leaders’ group initiative to showcase signatories doing great work Following an asset owner publication on manager selection, we will
in implementing responsible investment, and will showcase asset provide guidance on manager appointment and monitoring. Human
GET INVOLVED owner best practices during PRI in Person, as well as launch our rights and modern slavery will also be a key focus.
inaugural PRI Awards, where we will recognise excellent projects
SIGNATORY RELATIONS
conducted by signatories. For signatories that use our Data Portal, As always, we thank all of you for your support and commitment over
we introduced service provider reports and climate reports. the last year. We are making great strides on responsible investment
and with your help, we will continue moving this agenda forward.
And in the last 12 months, our signatory base grew considerably, with
the PRI welcoming over 400 new signatories, including 68 new asset
owners.
3
2019/20 WORK
PROGRAMME: THE BLUEPRINT FOR RESPONSIBLE INVESTMENT
THE PRI The Blueprint is the PRI’s mandate for the next decade – with an ambitious agenda for the next 10 years, we plan to tackle some of the most
pressing ESG issues in the world today. Through nine priority areas, we will encourage signatories to become more active owners, to inspire
MESSAGE FROM leadership and support sustainable investment strategies, leading to prosperous and inclusive societies for future generations.
THE CEO
THE BLUEPRINT FOR
RESPONSIBLE INVESTMENT
OUR STRATEGY AND
OUR STRATEGY AND OBJECTIVES
OBJECTIVES
Our goals for the next ten years are laid out in our Blueprint for responsible investment.
OUR PERFORMANCE AGAINST
OUR THREE-YEAR STRATEGY
The three-year strategic plan, which came into effect in April 2018, and the Blueprint, which was launched in 2017, were developed through
OUR ACHIEVEMENTS 18/19 extensive consultation with signatories, UN partners and the PRI Board.
19/20 PLANS
RESPONSIBLE INVESTORS
RESPONSIBLE
SUSTAINABLE MARKETS
INVESTORS
A PROSPEROUS WORLD
FOR ALL We will strengthen, deepen and expand our
core work: to lead responsible investors
ENABLING ENVIRONMENT in their pursuit of long-term value and
to enhance alignment throughout the
investment chain.
JOIN US AT PRI IN PERSON
2019 • EMPOWER ASSET OWNERS
• SUPPORT INVESTORS
THE PRI BOARD
INCORPORATING ESG ISSUES
• FOSTER A COMMUNITY SUSTAINABLE
SIGNATORY FEES
OF ACTIVE OWNERS MARKETS
THE BUDGET
• SHOWCASE LEADERSHIP AND We will address unsustainable aspects
INCREASE ACCOUNTABILITY of the markets that investors operate
in, to achieve the economically efficient,
GET INVOLVED • CONVENE AND EDUCATE sustainable global financial system that
RESPONSIBLE INVESTORS responsible investors and beneficiaries
SIGNATORY RELATIONS need.
• CHALLENGE BARRIERS TO A PROSPEROUS
A SUSTAINABLE FINANCIAL
SYSTEM WORLD FOR ALL
We will enable signatories to improve the
• DRIVE MEANINGFUL DATA
real world – now and in the future – by
THROUGHOUT MARKETS encouraging investments that contribute
to prosperous and inclusive societies for
current and future generations.
• CHAMPION CLIMATE ACTION
• ENABLE REAL-WORLD
IMPACT ALIGNED WITH THE
SDGs
4
2019/20 WORK
PROGRAMME: OUR PERFORMANCE AGAINST OUR
THREE-YEAR STRATEGY
THE PRI
Below is an indication of the progress we expect at the end of this three-year strategy on the nine Blueprint priorities. Some priorities, such
MESSAGE FROM
as Enable real-world impact aligned with the SDGs are longer term projects, and as such we don’t expect to see as much progress.
THE CEO
THE BLUEPRINT FOR
RESPONSIBLE INVESTMENT
OUR STRATEGY AND
OBJECTIVES Empower asset owners
OUR PERFORMANCE AGAINST
OUR THREE-YEAR STRATEGY
Support investors incorporating ESG issues
OUR ACHIEVEMENTS 18/19
19/20 PLANS
RESPONSIBLE INVESTORS Foster a community of active owners
SUSTAINABLE MARKETS
A PROSPEROUS WORLD
FOR ALL
ENABLING ENVIRONMENT Showcase leadership and increase accountability
JOIN US AT PRI IN PERSON
2019
Convene and educate responsible investors
THE PRI BOARD
SIGNATORY FEES
Challenge barriers to a sustainable financial system
THE BUDGET
GET INVOLVED
Drive meaningful data throughout the markets
SIGNATORY RELATIONS
Champion climate change
Enable real-world impact aligned with the SDGs
0% 100%
5
2019/20 WORK
PROGRAMME: OUR ACHIEVEMENTS 2018/19
THE PRI Throughout the year, we continued to deliver for our signatories, working together with them to make real progress in driving responsible
investment forward.
MESSAGE FROM
THE CEO
We committed to over 100 initiatives at the beginning of the last financial year. We completed or made significant progress on more than
THE BLUEPRINT FOR 90% of them.
RESPONSIBLE INVESTMENT
OUR STRATEGY AND
OBJECTIVES
OUR PERFORMANCE AGAINST
OUR THREE-YEAR STRATEGY
OUR ACHIEVEMENTS 18/19
19/20 PLANS
RESPONSIBLE INVESTORS
SUSTAINABLE MARKETS
A PROSPEROUS WORLD
FOR ALL
ENABLING ENVIRONMENT
JOIN US AT PRI IN PERSON
2019
THE PRI BOARD
SIGNATORY FEES CREDIT RATING INEVITABLE POLICY JUST EU
THE BUDGET AGENCIES RESPONSE TRANSITION TAXONOMY
GET INVOLVED
SIGNATORY RELATIONS
IMPACT: IMPACT: IMPACT: IMPACT:
We released a trilogy of reports to Established an industry framework We partnered with academics and Led the development of a
advance thinking and practice on for investors to take action and other stakeholders to explore the classification system on what can
the explicit consideration of ESG build resilience across their social dimension of climate change. be considered an environmentally
issues by credit rating agencies investment portfolios in the event This thought leadership focused sustainable economic activity for
into their debt ratings. The largest of a disruptive climate transition. on agenda setting and raising financial actors, which will ultimately
agencies are now vying for industry awareness. We are also establishing guide capital flows towards
leadership in this area. a global investor group to mobilise sustainable development.
investor action.
6
2019/20 WORK
PROGRAMME: OUR ACHIEVEMENTS 2018/19
THE PRI
MESSAGE FROM
THE CEO
THE BLUEPRINT FOR
RESPONSIBLE INVESTMENT
OUR STRATEGY AND
OBJECTIVES
OUR PERFORMANCE AGAINST
OUR THREE-YEAR STRATEGY
OUR ACHIEVEMENTS 18/19
19/20 PLANS
RESPONSIBLE INVESTORS
SUSTAINABLE MARKETS
A PROSPEROUS WORLD
FOR ALL
ENABLING ENVIRONMENT
JOIN US AT PRI IN PERSON
2019
THE PRI BOARD
PRI-CFA IMPLEMENTATION CLIMATE ACTION
SIGNATORY FEES INCOME
OF THE TCFD
INTEGRATION STUDY 100+ INEQUALITY
THE BUDGET
RECOMMENDATIONS
GET INVOLVED
SIGNATORY RELATIONS
IMPACT: IMPACT: IMPACT: IMPACT:
Highlighted the status of ESG We created momentum for the With other climate groups, we Raised awareness of how income
integration in 17 key markets, adoption of the TCFD (Task Force brought together 320+ investors inequality can be material to investors’
including emerging markets. on Climate-related Financial representing over US$33 trn portfolios, providing them with
Played a role in the CFA Institute Disclosures) recommendations in assets to engage corporates practical considerations and strategies
issuing a policy statement that ESG through webinars, events and on emissions reduction. The to respond to the issue.
integration and fiduciary duty are off-the-shelf tools such as the engagement behind this has
consistent. Paris Agreement Capital Transition resulted in climate action on the
Assessment (PACTA) tool. part of BP and Glencore.
7
2019/20 PLANS
2019/20 WORK
PROGRAMME:
RESPONSIBLE INVESTORS
THE PRI
MESSAGE FROM
THE CEO
THE BLUEPRINT FOR
RESPONSIBLE INVESTMENT
OUR STRATEGY AND
OBJECTIVES
OUR PERFORMANCE AGAINST
OUR THREE-YEAR STRATEGY
OUR ACHIEVEMENTS 18/19
19/20 PLANS
EMPOWER ASSET SUPPORT INVESTORS FOSTER A COMMUNITY OF
RESPONSIBLE INVESTORS
SUSTAINABLE MARKETS
A PROSPEROUS WORLD OWNERS INCORPORATING ESG ISSUES ACTIVE OWNERS
FOR ALL
ENABLING ENVIRONMENT
■■ Release guidance for asset owners on how to ■■ Promote the transparent and systematic integration ■■ Set out the PRI’s enhanced expectations of
JOIN US AT PRI IN PERSON integrate ESG factors when appointing and of ESG considerations in the decision making of fixed signatories regarding active ownership, moving to
2019
monitoring investment managers, as well as income investors and credit rating agencies. a focus on achieving real-world impact.
THE PRI BOARD guidance on developing a mandate for investment ■■ Mobilise investor action to support a just transition ■■ Engage regulators and stakeholders on removing
managers incorporating ESG factors. for workers and communities through an expert the barriers to collaborative active ownership
SIGNATORY FEES ■■ Publish a guide on how asset owners can working group. Showcase progress via case studies activities.
incorporate ESG factors into investment and events.
■■ Launch phase one of the enhanced Collaboration
THE BUDGET consultant service delivery. ■■ Provide guidance on how investors could implement Platform, making it a global signatory hub for
■■ Roll out a tool to support asset owner boards the UN Guiding Principles and chair the Commission active ownership.
GET INVOLVED
to enhance sustainability considerations in their on Modern Slavery and Human Trafficking.
■■ Coordinate collaborative engagements on water
SIGNATORY RELATIONS strategies and processes. ■■ Continue to coordinate the Climate Action risks in the agricultural supply chains; cattle and
■■ Release research on global pensions systems, 100+ initiative, and engage on wider climate risk soy supply chains; breaches of OECD guidelines;
identifying whether they enable or hinder good transition, including methane for the oil and gas labour practices in agricultural supply chains;
sustainability outcomes for beneficiaries and sector, supported by an update to the 2 degrees of responsible cobalt sourcing; corporate tax
clients. separation research. responsibility; cyber security; and sustainable palm
■■ Identify the range of misalignment issues within ■■ Publish research on economic inequality, diversity, oil.
the investment chain affecting asset owners and the future of work and executive pay.
support collaborative action to counter this. ■■ In private equity, examine the fiduciary duty of
private company board directors, advancing LP tools
for selection, appointment and monitoring of GPs.
8
2019/20 PLANS
2019/20 WORK
PROGRAMME:
RESPONSIBLE INVESTORS
THE PRI
MESSAGE FROM
THE CEO
THE BLUEPRINT FOR
RESPONSIBLE INVESTMENT
OUR STRATEGY AND
OBJECTIVES
OUR PERFORMANCE AGAINST
OUR THREE-YEAR STRATEGY
OUR ACHIEVEMENTS 18/19
19/20 PLANS
SHOWCASE LEADERSHIP AND CONVENE AND EDUCATE
RESPONSIBLE INVESTORS
SUSTAINABLE MARKETS
A PROSPEROUS WORLD INCREASE ACCOUNTABILITY INVESTORS
FOR ALL
ENABLING ENVIRONMENT
■■ Complete the Reporting Framework consultation ■■ Run the largest ever PRI in Person in Paris, as well
JOIN US AT PRI IN PERSON and review to ensure it is fit for purpose, remains as side events such as an investor field trip to a
2019
relevant to evolving responsible investment plastics waste recycling facility.
THE PRI BOARD practices and is useful for signatories and the ■■ Launch one-day regional events initiative.
responsible investment market as a whole.
■■ For the PRI Academy, create new fixed income
SIGNATORY FEES ■■ Launch the PRI Awards programme to recognise course and build external partnerships, for
individually excellent projects conducted by example with CFA UK.
THE BUDGET signatories of all sizes, specialisms and levels of
developments.
■■ Convene academics and investors via the
GET INVOLVED Academic Network Conference, and showcase
■■ Identify signatories that are doing great work academic research findings.
SIGNATORY RELATIONS in implementing responsible investment and
showcase them via the Leaders’ Group, using
scores from a variety of Assessment Report
modules.
■■ Roll out mandatory climate reporting.
9
2019/20 PLANS
2019/20 WORK
PROGRAMME:
SUSTAINABLE MARKETS
THE PRI
MESSAGE FROM
THE CEO
THE BLUEPRINT FOR
RESPONSIBLE INVESTMENT
OUR STRATEGY AND
OBJECTIVES
OUR PERFORMANCE AGAINST
OUR THREE-YEAR STRATEGY
OUR ACHIEVEMENTS 18/19
19/20 PLANS
CHALLENGE BARRIERS TO A SUSTAINABLE DRIVE MEANINGFUL DATA
RESPONSIBLE INVESTORS
SUSTAINABLE MARKETS
A PROSPEROUS WORLD FINANCIAL SYSTEM THROUGHOUT MARKETS
FOR ALL
ENABLING ENVIRONMENT
■■ Carry out public policy engagement on investment regulations and ESG ■■ Work with securities regulators and exchanges
JOIN US AT PRI IN PERSON disclosure in China, France, Germany, the EU, the US, the UK and Japan. to promote sustainable development, focusing
2019
■■ Lead the development of the EU classification system on what can be particularly on mandatory ESG reporting and
THE PRI BOARD considered an environmentally sustainable economic activity for financial listing requirements.
actors. ■■ In collaboration with the Corporate Reporting
SIGNATORY FEES
■■ Support Chinese stakeholders to implement ESG requirements as part of Dialogue platform, work towards a global standard
their investor duties. for ESG reporting.
THE BUDGET
■■ Support the OECD to align its sustainability and financial regulation ■■ Publish a report to mark the Sustainable Stock
GET INVOLVED objectives. Exchanges (SSE) Initiative’s 10-year anniversary,
setting the direction of its future activities and
■■ Start to explore the limitations of efficient markets theory and modern how it will support responsible investment.
SIGNATORY RELATIONS
portfolio theory.
■■ Publish an update to the report, Fiduciary duty in the 21st century.
102019/20 PLANS
2019/20 WORK
PROGRAMME:
A PROSPEROUS WORLD FOR ALL
THE PRI
MESSAGE FROM
THE CEO
THE BLUEPRINT FOR
RESPONSIBLE INVESTMENT
OUR STRATEGY AND
OBJECTIVES
OUR PERFORMANCE AGAINST
OUR THREE-YEAR STRATEGY
OUR ACHIEVEMENTS 18/19
19/20 PLANS
CHAMPION CLIMATE ENABLE REAL-WORLD IMPACT
RESPONSIBLE INVESTORS
SUSTAINABLE MARKETS
A PROSPEROUS WORLD ACTION ALIGNED WITH THE SDGS
FOR ALL
ENABLING ENVIRONMENT
■■ Develop next phase of the Inevitable Policy ■■ Publish guides on good impact management
JOIN US AT PRI IN PERSON Response, including detailed technical analysis practices; the difference between company and
2019
and practical tools, highlighting the threats and investor impact; signatory case studies on SDG
THE PRI BOARD limitations of failing to transition to a low-carbon integration across asset classes; and practical
economy. examples of how investors can contribute to the
SIGNATORY FEES ■■ Outreach to private and public actors to ensure SDGs.
they understand the implications of a slow ■■ In collaboration with SASB and UNGC, identify
THE BUDGET transition to a low-carbon economy, influencing material SDG risks per industry.
their expectations, actions and disclosure ■■ Develop a project to understand and analyse how
GET INVOLVED
reporting. investors can manage dual duties (fiduciary duty
SIGNATORY RELATIONS ■■ Accelerate investor adoption of the TCFD and impact duties).
recommendations and enhance TCFD reporting ■■ Work with development finance institutions, UN
among signatories. partners and other stakeholders to identify and
■■ Bring investors together through the Investor explore investment opportunities for the SDGS.
Agenda to align capital flows with the Paris ■■ Explore the systemic challenges to attracting
Agreement goals. more infrastructure investment aligned with the
SDGs.
112019/20 PLANS
2019/20 WORK
PROGRAMME:
ENABLING ENVIRONMENT
THE PRI
MESSAGE FROM
THE CEO
THE BLUEPRINT FOR
RESPONSIBLE INVESTMENT
OUR STRATEGY AND
OBJECTIVES
OUR PERFORMANCE AGAINST
OUR THREE-YEAR STRATEGY
OUR ACHIEVEMENTS 18/19
19/20 PLANS
RESPONSIBLE INVESTORS
ENHANCE OUR DIGITAL DEVELOP OUR STAFF
SUSTAINABLE MARKETS BUILD CLOSER RELATIONSHIPS
CAPACITY TO IMPROVE TO BETTER SUPPORT
A PROSPEROUS WORLD
TO SUPPORT SIGNATORIES
COMMUNICATION SIGNATORIES
FOR ALL
ENABLING ENVIRONMENT
JOIN US AT PRI IN PERSON
2019 ■■ Launch phase one of the enhanced Collaboration ■■ Embed new organisation structure, staff ■■ Carry out enhanced relationship management,
Platform, making it a global signatory hub for development framework and introduce new pay with a focus on in-person meetings with
THE PRI BOARD active ownership. structure. signatories and targeted asset owner recruitment.
■■ More targeted digital communications, including ■■ Perform annual skills gap analysis and conduct ■■ Facilitate local initiatives, such as the Reporting
SIGNATORY FEES
more strategic use of social media and the PRI biennial staff survey. Framework review and one-day events.
THE BUDGET
website. ■■ Deliver global trustee reviews.
■■ Introduce single signatory sign-on across all PRI
GET INVOLVED platforms to make it easier for signatories to use
our platforms.
SIGNATORY RELATIONS
122019/20 WORK
PROGRAMME: JOIN US AT PRI IN PERSON 2019
THE PRI PRI IN PERSON
MESSAGE FROM JOIN US IN PARIS FROM 10-12 SEPTEMBER FOR THE LARGEST RESPONSIBLE INVESTMENT CONFERENCE
THE CEO
EVER PLANNED.
THE BLUEPRINT FOR
RESPONSIBLE INVESTMENT
PRI in Person offers a platform for PRI signatories and other investment professionals to learn, network and collaborate in person over a
OUR STRATEGY AND
OBJECTIVES three-day period. The annual event allows attendees to discuss topical issues and share experiences from their own organisation and region
with peers from around the world.
OUR PERFORMANCE AGAINST
OUR THREE-YEAR STRATEGY
We expect the 2019 conference to be the largest yet, attracting over 1,500 delegates. It will also be our most comprehensive agenda to
OUR ACHIEVEMENTS 18/19 date, with six streams and over 40 sessions. The plenary programme will address major contextual issues such as climate change and the
Sustainable Development Goals, while a range of breakout sessions will provide detailed insights on implementing the PRI’s Principles for
19/20 PLANS different signatory types, asset classes and regions.
RESPONSIBLE INVESTORS
Apply for your place now via www.unpri.org/paris2019.
SUSTAINABLE MARKETS
A PROSPEROUS WORLD
FOR ALL
ENABLING ENVIRONMENT
ACADEMIC NETWORK CONFERENCE
JOIN US AT PRI IN PERSON
2019 The PRI Academic Network Conference 2019 will take place on Monday 9 September at the Hyatt Paris Regency Etoile, in collaboration
with the Research Chair on Sustainable Finance and Responsible Investments (Chair FDIR) at Toulouse School of Economics and École
THE PRI BOARD Polytechnique. The conference precedes PRI in Person, taking place at the same venue.
SIGNATORY FEES Register here.
THE BUDGET Connect with the Academic Network via the PRI Academic Network Online, a platform that brings together academics and investors for
dialogue and relationship building. It is a community of interest on responsible investment. Join the Academic Network here.
GET INVOLVED
SIGNATORY RELATIONS
13THE PRI BOARD
2019/20 WORK
PROGRAMME:
THE PRI
CHAIR DIRECTORS ELECTED BY ASSET OWNERS
MESSAGE FROM
THE CEO
THE BLUEPRINT FOR
RESPONSIBLE INVESTMENT
OUR STRATEGY AND
OBJECTIVES
Martin Skancke Angela Emslie Eva Halvarsson Laetitia Tankwe Hiro Mizuno Renosi Mokate, Xander den Uyl
OUR PERFORMANCE AGAINST Chair, PRI Independent Chief Executive Advisor to the Executive Managing Chairperson of the Trustee, ABP
Appointed until 2020 Member, Impact Officer, Second president of the Director and Chief Board of Trustees, Elected until 2021
OUR THREE-YEAR STRATEGY Committee, HESTA Swedish National Investment Officer, Government
board of trustees, THE NETHERLANDS
Elected until 2021 Pension Fund (AP2) Ircantec Government Pension Employees Pension
OUR ACHIEVEMENTS 18/19 AUSTRALIA Elected until 2019 Elected until 2021 Investment Fund Fund (GEPF)
SWEDEN (Japan) Elected until 2020
FRANCE
Elected until 2019 SOUTH AFRICA
19/20 PLANS JAPAN
RESPONSIBLE INVESTORS
SUSTAINABLE MARKETS
DIRECTORS ELECTED BY NON-ASSET OWNERS PERMANENT UN ADVISORS
A PROSPEROUS WORLD
FOR ALL
ENABLING ENVIRONMENT UNGC UNEP FI
JOIN US AT PRI IN PERSON
2019
THE PRI BOARD Wendy Cromwell Tycho Sneyers Peter Webster
Vice Chair, Managing Partner, Director of
Wellington LGT Capital Partners International Affairs,
SIGNATORY FEES Management Elected until 2020 Vigeo Eiris & CEO Lise Kingo Eric Usher
Elected until 2021 SWITZERLAND EIRIS Foundation CEO & Executive Head, UNEP FI
US Elected until 2019 Director, UNGC
THE BUDGET UK
GET INVOLVED
SIGNATORY RELATIONS
YOUR RIGHTS AS A SIGNATORY CHAIR PRIORITIES
We encourage signatories to participate actively in all areas The PRI Board has approved the Chair priorities for 2019/20:
of PRI governance and there are regular opportunities to do
so. Mechanisms are in place to encourage structured dialogue 1. Leadership of the PRI Board.
between signatories and the board at regular intervals. This is so 2. PRI Blueprint priority seven: Drive meaningful data throughout
the board remains accountable to signatories and that decision markets.
making remains transparent. For a full list of signatory rights, visit
3. Blueprint priority eight: Champion climate action.
the PRI website. To raise matters with the PRI Board please email
governance@unpri.org. 4. Blueprint priority nine: Enable real-world impact aligned with
the SDGs.
14SIGNATORY FEES
2019/20 WORK
PROGRAMME:
THE PRI The annual signatory fee is due each April and is adjusted per each signatory’s category and assets under management or number of
employees. The PRI Board approved a 2 percent fee increase in line with UK inflation for 2019/20 at its March 2019 meeting.
MESSAGE FROM
THE CEO
THE BLUEPRINT FOR FEE SCHEDULE 2019/20
RESPONSIBLE INVESTMENT
OUR STRATEGY AND
OBJECTIVES
OUR PERFORMANCE AGAINST
OUR THREE-YEAR STRATEGY
OUR ACHIEVEMENTS 18/19
19/20 PLANS
RESPONSIBLE INVESTORS
SUSTAINABLE MARKETS Asset owners Investment managers Service providers
A PROSPEROUS WORLD
FOR ALL
AUM AUM
ENABLING ENVIRONMENT
Fee (£) Fee (£) Employees Fee (£)
JOIN US AT PRI IN PERSON
(US$ billion) (US$ billion)
2019
THE PRI BOARD > 50 8,609 >50 13,943 >200 8,609
SIGNATORY FEES 30 - 50 8,609 30 – 50 12,260 51 – 200 6,528
THE BUDGET > 10 8,609 10 – 29.99 11,149 26 – 50 3,009
GET INVOLVED
5 - 9.99 6,528 5 – 9.99 7,803 11 – 25 857
SIGNATORY RELATIONS
1 - 4.99 3,009 1 – 4.99 4,457THE BUDGET
2019/20 WORK
PROGRAMME:
THE PRI The Blueprint for responsible investment sets out our high-
Forecast 2018/19 Budget 2019/20 level ambitions for the next decade. Broken down into more
INCOME
MESSAGE FROM (£000s) (£000s) detailed three-year plans, the 2019/20 budget represents the
THE CEO
second of the 2108-21 planning cycle. More specifically the
Signatory fees 11,154 12,726
THE BLUEPRINT FOR next financial year provides for:
RESPONSIBLE INVESTMENT
Grants, donations and other income 842 1,581
OUR STRATEGY AND ■■ The HR organisational restructuring approved in 2018.
OBJECTIVES
PRI in Person 135 1,011 ■■ The consolidation and reorganisation of content teams to
OUR PERFORMANCE AGAINST strengthen our capability.
OUR THREE-YEAR STRATEGY
PRI Academy 499 575 ■■ Continuing development of out digital capabilities and on-
OUR ACHIEVEMENTS 18/19 line platforms.
TOTAL INCOME 12,630 15,893
■■ Strengthening of our capacity and expertise in key markets,
19/20 PLANS
including the appointment of regional directors.
RESPONSIBLE INVESTORS
■■ Investing in IT, HR and Finance to reflect growing
SUSTAINABLE MARKETS
Forecast 2018/19 Budget 2019/20 complexity and size.
A PROSPEROUS WORLD EXPENDITURE
FOR ALL (£000s) (£000s) ■■ A continuing investment in education and the PRI Academy.
ENABLING ENVIRONMENT
Management/Board/IT/Finance 2,540 2,604
JOIN US AT PRI IN PERSON
Partnerships 230 209 ESTIMATED 2018/19 SPEND AGAINST
2019
BLUEPRINT PRIORITIES
THE PRI BOARD Premises 410 475
SIGNATORY FEES Reporting & Assessment 830 793
Responsible Investment 2,850 3,410
THE BUDGET
28%
GET INVOLVED Grants 810 1,581
SIGNATORY RELATIONS Signatory Relations 2,800 3,303
58%
Communications/Events/Operations 965 1,651
8%
PRI Academy 435 418
Research & Consulting 400 565 6%
TOTAL EXPENDITURE 12,270 15,009
Surplus before interest, tax and depreciation 360 884 Responsible investors Prosperous world for all
Cash 31 March 5,414 5,706 Sustainable markets Enabling environment
162019/20 WORK
PROGRAMME: GET INVOLVED
There are several ways to get involved with the PRI or learn more about us. You could come along to one of our events, join an advisory
committee or working group, or sign up to some of our newsletters. Visit our website for more information.
THE PRI
For more information, get in touch:
MESSAGE FROM
THE CEO
THE BLUEPRINT FOR Principles for Responsible PRI Association (Hong Kong) PRI US, Inc. PRI Association France SARL
RESPONSIBLE INVESTMENT Investment Limited 45 Rockefeller Plaza, Suite 2000 44-46 Rue de la Bienfaisance,
OUR STRATEGY AND
OBJECTIVES 5th Floor, 25 Camperdown Room 3, 11/F, 244 – 248 Des New York, NY 10111 75008 Paris, France
Street, Voeux Road Central, Sheung
OUR PERFORMANCE AGAINST London, E1 8DZ, UK Wan, Hong Kong T: +212 332 3437 Tel: +33 (0)1 87 16 40 34
OUR THREE-YEAR STRATEGY
OUR ACHIEVEMENTS 18/19 T: +44 (0) 20 3714 3141 T: +852 3897 9699
info@unpri.org - www.unpri.org
19/20 PLANS
RESPONSIBLE INVESTORS
OUR UN PARTNERS
SUSTAINABLE MARKETS
A PROSPEROUS WORLD
FOR ALL
ENABLING ENVIRONMENT
JOIN US AT PRI IN PERSON United Nations Environment Programme Finance Initiative (UNEP FI)
2019 UNEP FI is a unique partnership between the United Nations Environment Programme (UNEP) and the global financial sector. UNEP FI works
closely with over 200 financial institutions that are signatories to the UNEP FI Statement on Sustainable Development, and a range of partner
THE PRI BOARD
organisations, to develop and promote linkages between sustainability and financial performance. Through peer-to-peer networks, research
SIGNATORY FEES
and training, UNEP FI carries out its mission to identify, promote, and realise the adoption of best environmental and sustainability practice at all
levels of financial institution operations.
THE BUDGET
More information: www.unepfi.org
GET INVOLVED
SIGNATORY RELATIONS UN Global Compact
Launched in 2000, the United Nations Global Compact is a both a policy platform and a practical framework for companies that are committed
to sustainability and responsible business practices. As a multi-stakeholder leadership initiative, it seeks to align business operations and
strategies with ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption, and to catalyse actions
in support of broader UN goals. With 7,000 corporate signatories in 135 countries, it is the world’s largest voluntary corporate sustainability
initiative.
More information: www.unglobalcompact.org
An investor initiative in partnership with UNEP Finance Initiative and UN Global Compact
172019/20 WORK
PROGRAMME:
SIGNATORY RELATIONS GLOBAL
Lorenzo Saa
Chief Signatory Relations Officer
lorenzo.saa@unpri.org
THE PRI
AMERICAS CONTINENTAL EUROPE NORTHERN EUROPE AND MEA ASIA-PACIFIC
MESSAGE FROM
THE CEO Chris Fowle Marie Luchet Anastasia Guha Matthew Mcadam
Director of Americas Director of Continental Europe Director of Northern Europe and MEA Director of Asia-Pacific
chris.fowle@unpri.org marie.luchet@unpri.org anastasia.guha@unpri.org matthew.mcadam@unpri.org
THE BLUEPRINT FOR
RESPONSIBLE INVESTMENT
OUR STRATEGY AND
UK & IRELAND
OBJECTIVES CANADA CANADA
Gregory Kearney
OUR PERFORMANCE AGAINST Nalini Feuilloley Kelly Krauter Relationship Manager, UK and Ireland
Head of Canada Associate, Canada
OUR THREE-YEAR STRATEGY nalini.feuilloley@unpri.org
gregory.kearney@unpri.org NORDICS
kelly.krauter@unpri.org
Yulia Sofronova
OUR ACHIEVEMENTS 18/19 BENELUX Head of Nordic, CEE & CIS
yulia.sofronova@unpri.org
US Don Gerritsen
19/20 PLANS Head of Benelux
Carol Jeppesen
don.gerritsen@unpri.org SWITZERLAND
RESPONSIBLE INVESTORS Head of US JAPAN
carol.jeppesen@unpri.org Melanie Klebeck
SUSTAINABLE MARKETS Michiyo Morisawa
GERMANY AND AUSTRIA Relationship Manager, Switzerland
Head of Japan
A PROSPEROUS WORLD US melanie.klebeck@unpri.org
Dustin Neuneyer michiyo.morisawa@unpri.org
FOR ALL
Ophir Bruck Head of Germany and Austria
ENABLING ENVIRONMENT dustin.neuneyer@unpri.org
Relationship Manager, US JAPAN
ophir.bruck@unpri.org US
SOUTHERN EUROPE CHINA Minako Yoneyama
JOIN US AT PRI IN PERSON Saumya Mehrotra Relationship Manager, Japan
2019 Associate, US Antonio Santoro Nan Luo minako.yoneyama@unpri.org
Saumya.Mehrotra@unpri.org Head of Southern Europe Head of China
THE PRI BOARD dustin.neuneyer@unpri.org nan.luo@unpri.org
JAPAN
Kaori Nomura
SIGNATORY FEES
Associate, Japan
kaori.nomura@unpri.org
BRAZIL AFRICA & ME
THE BUDGET ASIA (EXCL. CHINA & JAPAN)
Marcelo Seraphim Nicole Martens
Head of Africa & Middle East James Robertson
GET INVOLVED Head of Brazil
nicole.martens@unpri.org Head of Asia (ex-China and Japan)
marcelo.seraphim@unpri.org
james.robertson@unpri.org
SIGNATORY RELATIONS
LATIN AMERICA
Eduardo Atehortua Barrero
Head of Latin America (ex-Brazil)
eduardo.atehortua@unpri.org
CENTRAL SUPPORT CENTRAL SUPPORT CENTRAL SUPPORT
Melissa Ginsburg Siobhan Archer Ben Leblique
Head of Signatory Relations Operations Associate, Signatory Relations Associate, Signatory Relations
melissa.ginsburg@unpri.org siobhan.archer@unpri.org ben.leblique@unpri.org
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