PRI’s updated framework a challenge for responsible investors

Steffan Berridge

The United Nations Principles of Responsible Investment (PRI) has announced sweeping changes to its reporting framework.

Elina Rolfe, PRI director of reporting and assessment said in a statement: “We need to ensure that being a PRI signatory remains meaningful for the industry. We are not here to be a rubber stamp. That is why we decided to review the reporting process and our framework to ensure it remains relevant in a continuously evolving market.

“We’ve been working hard over the last two years to develop a framework that not only has more challenging reporting requirements, but is also simpler for signatories to report on, shorter and more consistent in its structure; and one that delivers more flexible and meaningful reporting outputs.”

The number of questions that PRI signatories will need to answer has been halved. At the same time the reporting requirements have become more challenging, making the higher ratings more difficult to achieve.