The Principles For Responsible Investment (PRI) has released its latest strategy document with two overarching objectives: to maximise the value they deliver to signatories in a rapidly evolving responsible investment environment, and to support signatories to play a meaningful role in achieving a sustainable global financial system.
The update outlined PRI objectives through to 2027 as it supports its signatories to meet their sustainability targets. It follows extensive consultation among the signatory base, including through this year’s strategy consultation and 2023’s PRI in a Changing World consultation.
In a foreword for the document, chair of the PRI board, Conor Kehoe, and David Atkin, PRI CEO, said they were “confident” their work over the past few years has them up for success, but there were further challenges ahead. Namely, containing to see climate change and the degradation of nature as a growing material risk, alongside the increasing inequality of economic outcomes and social and political instability worldwide.
They also noted recent times have felt like an “inflection point” for the responsible investment space, with many signatories “feeling frustrated and fatigued”. However, they asserted there was “reason for optimism if we continue to collaborate”.
The updated strategy is centred around four key pillars:
- Driving signatory progression
- Strengthening regional ecosystems (including in emerging markets)
- Amplifying impact through collaboration
- Facilitating an enabling policy environment
The PRI said it would also track progress on these strategic areas against a number of key indicators, centred around both organisational targets for the PRI (signatory progression, mainstreaming responsible investment, supporting collaboration, etc.) and system-level indicators (influencing capital deployment and market practices, creating an enabling environment for responsible investment).
Commenting on the launch of the strategy document, Atkin added: “The PRI has recognised the ongoing need to effectively support our signatories, particularly in the face of ongoing and unprecedented shifts to the external landscape that investors operate in. This strategy is a direct response to these external factors, and importantly, to the feedback we’ve heard from signatories on what they need from us.
“Moving forwards, we’ll ensure our work is relevant to both signatories’ individual circumstances and the rapidly evolving markets they operate in. Likewise, we’ll ensure we monitor progress in a way that will deliver vital transparency and accountability as we proceed with our mission. We believe that reflecting the diverse needs of our investors and facilitating them as they progress towards their responsible investment objectives – no matter what stage they are at in that journey – is the best way to act in support of our signatories, the financial markets and economies in which they operate and of the environment and society as a whole.”
