UNPRI achieves near record signatory growth in 2013/14
Written by Matt Ritchie
The Principles for Responsible Investment added more than 200 new signatories in the year to April, as assets under management of participating investors grew to more than $45trn (€33trn).
The UN-backed initiative announced the number of signatories had increased to more than 1,260 after the year of near record growth.
New signatories over the year include Unilever Pension Fund, Credit Suisse Private Banking & Wealth Management, Harvard University Endowment, Green Investment Bank, Greater Manchester Pension Fund, and Morgan Stanley Investment Management.
“The updated figures come after analysis of the most rigorous data set on global responsible investment activity ever collected by the PRI,” managing director Fiona Reynolds said.
“The closure of the first reporting round under our new framework saw more than 800 investors disclose how they are implementing the PRI’s six principles across their portfolios to help create a more sustainable financial system."
A number of factors were identified for the increase in AUM, including equity market performance, the addition of new signatories, and an enhanced system for calculating signatory holdings under the PRI’s new reporting framework.
The framework was redeveloped between 2011 and 2013, and conservative AUM estimates were made based on sample groups of the signatory base who participated in a voluntary reporting exercise.
Eight Danish signatories announced they were to leave the PRI late last year, citing ongoing governance failings.
The PRI has since launched a governance review, aiming to assess what governance structure it should adopt to fulfil its mission of developing an economically efficient, sustainable global financial system rewarding long-term, responsible investment benefiting the environment and society as a whole.
Initial recommendations from the review are expected over the next few weeks.
Natalie Tuck provides a summary of the big European pensions stories to have hit the headlines this month
Average retirement age in Finland rises to 61.2
Europeans Pension Services Signup
IFG Group sells Irish pension and financial advisory firms for €13.5m
Luxembourg’s FDC tenders real estate mandates
A Greek tragedy
Appetite for private equity surges among CEE pension funds