The PRI collaborates with key stakeholders throughout finance, sustainability and responsible investment to align strategies and activities.
The PRI worked with regional investor climate groups to coordinate a letter from 120 investor CEOs from around the world, managing funds worth more than $12 trillion, urging G7 finance ministers ahead of their meeting in Dresden to support the inclusion of a long-term emissions reduction goal in the international climate agreement due at COP21.
The letter was coordinated in each region by IIGCC in Europe, Ceres’ Investor Network on Climate Risk (INCR) in North America, IGCC in Australia/New Zealand and ASrIA’s Asia Investor Group on Climate Change (AIGCC) in Asia.
Developing an asset owner climate change strategy offers a step-by-step approach for addressing climate change across three main strategies: engage, invest and avoid. Case studies outline existing examples of asset owner action, including several initiatives that were started by participants during the project.
It builds on the discussion paper Reducing emissions across the portfolio, which laid out the case for asset owner action on climate change, described why a carbon portfolio footprint is a useful tool for asset owners and covered the key factors for asset owners to consider when reducing emissions.
The PRI launched its Asset Owner Climate Change Strategy Project in response to asset owner interest in understanding whether and how to set an emissions reduction goal. A growing number of asset owners want to know how their assets are exposed to climate change risks, and the role that they can play in an orderly transition to a lower carbon economy.
“We believe climate change is one of the biggest systemic risks we face. With the right market signals from policy makers, investment in low-carbon and climate-resilient opportunities can flow and climate impacts and resulting economic damages can be mitigated.”
The PRI worked with the OECD in formulating its Engagement guidance on corporate tax responsibility. Coordinator of the BEPS Monitoring Group, Professor Sol Piccioto, provided a review for investors of the OECD’s Base Erosion and Profiting Shifting (BEPS) project, the global initiative backed by G20 leaders that seeks to design and implement reforms ensuring multinational companies are taxed “where their economic take place, and value is created”. Head of the BEPS Project Raffaele Russo contributed to discussions with the PRI and the investor group that shaped the document, and joined the guide’s launch event.
"A coordinated global approach to tax will be necessary.”
Raffaele Russo, Head of the BEPS Project
The PRI supports the UN's private sector work on human rights, aligning investor action on human rights with the UN Guiding Principles on Business and Human Rights. Our engagement guidance Human rights and the extractive industry: why engage, who to engage, how to engage used the UN Guiding Principles as a basis point, as does future PRI work on human rights.
Some of our biggest projects involving key PRI stakeholders also involve the work of our two UN partners, UNEP Finance Initiative and UN Global Compact.