The Principles for Responsible Investment (PRI) announced that starting from August 2020, some signatories that fail meeting the minimum requirements will be delisted
This minimum standard is fully in line with the PRI's stated objective, which is "over the next ten years, to bring responsible investors together to work towards sustainable markets that contribute to a more prosperous world for all".
This minimum requirement was defined in 2018 following a consultation conducted by the PRI with a final objective of increasing the accountability of the PRI as an organisation. This consultation revealed strong signatory support for using reporting and assessment data to delist signatories whose progress in implementing the Principles is not sufficient enough to meet the basic criteria of being a signatory, as defined by the PRI.
This minimum standard is made up of 3 criteria:
- Investment policy that covers the firm’s responsible investment approach, covering >50% of AUM
- Internal/external staff responsible for implementing RI policy
- Senior-level commitment and accountability mechanisms for RI implementation
The delisting of signatories because of failure to achieve the minimum standard will occur in August, and will be the final step of a 2-year discussion process between PRI and the concerned signatories.
The list of the delisted signatories will be shared in the PRI annual report.
More information here