(Seoul/Korea, 17 June 2008) - The Principles for Responsible Investment (PRI) Initiative, a partnership between global investors and two UN agencies surpassed a new milestone today. At an official ceremony in Seoul it was announced that the number of signatories more than doubled in 2008 to 381, representing USD 14 trillion in assets under management.
At the same time, a comprehensive survey from the PRI shows some of the world’s largest institutional investors are making significant progress in integrating environmental, social and governance (ESG) issues into their day-to-day business.
PRI Report on Progress 2008 (www.unpri.org/report08), released at the PRI’s second annual conference, demonstrates that signatories are “going to the next level” in implementing the six principles backed by UN Secretary-General Ban Ki-moon. It reveals a 31% increase this year in the number of asset owners (such as pension funds and insurance companies) who have signed up to the initiative and now publish specific reference to how they integrate responsible investment or ESG issues within their investment or ownership practices.
“The increasing percentage of PRI asset owners that are looking at ESG issues when selecting mainstream investment managers should be sending a clear signal to the market that responsible investment capability is becoming core to the way investment is done”, said PRI Executive Director James Gifford.
Key results from the survey include:
To download the PRI Report on Progress 2008, visit www.unpri.org/report08.
Trustee, British Telecom Pension Scheme and Chair of the PRI
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Executive Director of the PRI
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About the United Nations Principles for Responsible Investment
The Principles for Responsible Investment, convened by the United Nations Environment Program Finance Initiative and the UN Global Compact, was established as a framework to help investors achieve better long-term investment returns and sustainable markets through better analysis of environmental, social and governance issues in investment process and the exercise of responsible ownership practices. For more information visit www.unpri.org