Post by account_disabled on Mar 11, 2024 1:32:48 GMT -6
Nearly a third of signatories to a responsible investment watchlist monitored by the UN are at risk of being expelled from the body next year.
Last year, the Principles for France Mobile Number List Responsible Investment (PRI) reviewed 180 of its signatories following an annual audit that suggested they had not demonstrated a minimum level of responsible investment activity.
PRI signatories, who are asset owners and managers, commit to six principles designed to integrate environmental, social and governance (ESG) considerations into overall investing and hold the companies they invest in accountable for those aspects. To do this, they must submit an annual report to the organization detailing their progress.
The PRI gave those on the list two years to raise the level. The responsible investment body said 88 signatories on the watch list made improvements and met minimum requirements this year. It is working with 42 signatories who are on track to do so by 2020. However, 50 have not committed to the efforts and are at risk of being eliminated. The PRI refused to name names.
Perhaps surprisingly, the region with the largest number of laggards is Europe, an area typically considered to be at the forefront of ESG investing. The number reflects the fact that Europe has the largest signatory base.
The move comes at a time of scrutiny over whether investors are practicing what they preach when it comes to responsible investing.
" We still have some cases that have not met with us ," said Fiona Reynolds, chief executive of the PRI, who said it was difficult to know why they have not.
The PRI also requires that at least half of a fund manager's assets be covered by a responsible investment policy and that there be an explicit commitment from senior management.
Last year, the Principles for France Mobile Number List Responsible Investment (PRI) reviewed 180 of its signatories following an annual audit that suggested they had not demonstrated a minimum level of responsible investment activity.
PRI signatories, who are asset owners and managers, commit to six principles designed to integrate environmental, social and governance (ESG) considerations into overall investing and hold the companies they invest in accountable for those aspects. To do this, they must submit an annual report to the organization detailing their progress.
The PRI gave those on the list two years to raise the level. The responsible investment body said 88 signatories on the watch list made improvements and met minimum requirements this year. It is working with 42 signatories who are on track to do so by 2020. However, 50 have not committed to the efforts and are at risk of being eliminated. The PRI refused to name names.
Perhaps surprisingly, the region with the largest number of laggards is Europe, an area typically considered to be at the forefront of ESG investing. The number reflects the fact that Europe has the largest signatory base.
The move comes at a time of scrutiny over whether investors are practicing what they preach when it comes to responsible investing.
" We still have some cases that have not met with us ," said Fiona Reynolds, chief executive of the PRI, who said it was difficult to know why they have not.
The PRI also requires that at least half of a fund manager's assets be covered by a responsible investment policy and that there be an explicit commitment from senior management.