Today, the UN-backed PRI is a thriving global initiative with over 1,600 members representing over $70 trillion assets under management. PRI Association, 25 Camperdown Street, London, E1 8DZ, UK Company no: 7207947 The statement, coordinated by the nonprofit organizations PRI and Ceres, also comes on the heels of a new special report on climate change and land released by the Intergovernmental Panel on Climate Change, which shows that 11 percent of global greenhouse gas emissions are caused by poor forestry and land-use management including commodity-driven deforestation. Visit PRI website Sign up for Our Bulletin More information. New technologies and tools keep raising the intermittency ceiling, as countries like Germany and the UK move over 25% variable renewables and regions like South Australia and Northern Ireland aspire to 50% and more.

An introduction to responsible investment, Selecting, appointing and monitoring managers, Environmental, social and governance issues, Private retirement systems and sustainability, Introduction to responsible investment for asset owners, Clean technology: How the European carbon market is spurring innovation. As costs fall, so new cost tipping points will be crossed over the next decade. The cost of new renewables will become cheaper than fossil operating costs during the 2020s, and the cost of dispatchable renewables (with a battery) will fall below the cost of new fossils. establish a transparent monitoring and verification system for supplier compliance with the company’s no deforestation policy. In fact, whilst the PRI remains an asset owner-led organisation, investment manager signatories now represent over 70% of the signatory base, and more than 50% of the AUM of the Willis Towers Watson top 500 investment managers globally. Seventy percent of asset owner signatories now actively include ESG criteria in their RfPs to select investment managers. For example, over 30 insurers became signatories in 2019. Today, 230 institutional investors representing USD $16.2 trillion in assets under management are calling on companies to take urgent action in light of the devastating fires in the Amazon, which have been fuelled in part because of the deforestation happening at an alarming rate in Brazil and Bolivia. There is still so much to achieve, but there is power in numbers, so let’s roll up our sleeves and move forwards together. The key questions are when this response will come, what policies will be used, and where the impact will be felt. Some of Asia’s big asset owners – Japan Post Insurance, the Hong Kong Monetary Authority, Ping An Insurance Group (China) and the Employee Provident Fund (Malaysia) – are all new signatories. The PRI is an investor initiative in partnership with, PRI Association, 25 Camperdown Street, London, E1 8DZ, UK. PRI signatories now include the Harvard University Endowment, University of Toronto, University of Manchester, London School of Economics and Political Science, and University of Tokyo, whose interest in RI is often driven by student activism on sustainability. In Asia, Meiji Yasuda Life Insurance Company, Sumitomo Life Insurance Company (Japan) and Ping An Insurance (China) also signed up. Meanwhile, for 97% of the world’s population, intermittency is an academic issue, as they are well below the intermittency ceiling, and can simply copy the leaders. It argues that the remarkable fall in renewable electricity costs, combined with the raising of the intermittency ceiling, means that for most countries the opportunities offered by renewable electricity – a cheap, local and independent energy source - are now huge. We can address this through financial mechanisms and solutions that are in the best interests of our clients, the environment, and the communities we affect on the ground.”. The business case keeps getting stronger. Senior Manager, Company-Investor Relations. By Lorenzo Saa, Chief Signatory Relations Officer, PRI. The statement calls on companies to tackle the financial material deforestation risks, including market and reputational risks, within their operations and global supply chains. More recently, the PRI has seen significant growth in markets with a traditionally lower presence, such as Latin America, Southern Europe and Asia. We have released a number of introductory guides for asset owners, with the Introduction to responsible investment for asset owners at the forefront. Members of the CA100+ include over 430 PRI signatories, of which 225 are asset owners. Governments are also recognising the role capital markets must play in promoting social and environment goals. Many of the investors who have signed the statement are involved in a collaborative investor engagement initiative with global companies exposed directly or indirectly to soy and cattle from South America. To learn more, including how to block cookies, read our privacy policy. To learn more, including how to block cookies, read our privacy policy. Policymakers can now act to seize the opportunity. The PRI is an investor initiative in partnership with UNEP Finance Initiative and UN Global Compact. How do we support asset owner signatories? Growth in numbers has also been accompanied by increasing geographic diversity. What is “Inevitable” is some further policy response as the realities of climate change become increasingly apparent. Start to add in the externality value of renewables and you rapidly get to a much larger number. “It is with deep concern that we follow the escalating crisis of deforestation and forest fires in Brazil and Bolivia,” the investors wrote in a statement released today. Storebrand’s ambition is to have an investment portfolio that does not contribute to deforestation by 2025, and we will not knowingly finance operations that are illegal, fail to protect high conservation value forests or violate the rights of workers and local people.”, “The escalating crisis in Brazil and Bolivia is a clear indicator of the ongoing risks to the global economy from the combined impacts of climate change, deforestation and land-use changes,” said Lauren Compere, Boston Common Asset Management. Our goal is to contribute to the broader debate around topical issues and to help showcase some of our research and other work that we undertake in support of our signatories. Our largest amount of asset owners are based in the Nordics, the US and the UK/Ireland. Improving internal processes is one important step. A full list of asset owner material can be found at unpri.org/asset-owners. The UN’s calls for a “decade of action” should be a stark reminder of the urgent need for asset owners to step up their responsible investment efforts. report annually on deforestation risk exposure and management, including progress towards the company’s no deforestation policy.

Contact Ms. Danielle Chesebrough. Other introductory guides include discussions on what responsible investment is; introducing a responsible investment policy and process; and asset class-specific guides on fixed income; listed equity; and private equity. The PRI’s first US insurer – Re-Insurance Group of America – has also joined. This paper by Carbon Tracker is part of The Inevitable Policy Response (IPR), a pioneering project which aims to prepare financial markets for climate-related policy risks. The adoption of Storebrand’s investment policy to curb deforestation, lays out a clear mandate to intensify our work on active ownership, and obliges us to apply maximum pressure to change company behavior. An introduction to responsible investment, Selecting, appointing and monitoring managers, Environmental, social and governance issues, Private retirement systems and sustainability, Investor Initiative for Sustainable Forests (IISF), publicly disclose and implement a commodity-specific no deforestation policy with quantifiable, time-bound commitments covering the entire supply chain and sourcing geographies. Today, due to the requirements of many asset owners, over 2,000 investment managers have joined the PRI. The UN’s calls for a “decade of action” should be a stark reminder of the urgent need for asset owners to step up their responsible investment efforts. This has clearly had the desired result and gained the attention of more and more managers across the globe.

The PRI is an investor initiative in partnership with UNEP Finance Initiative and UN Global Compact. The forces for change are sufficient to start the transition. This is spilling over to activity at sovereign wealth funds, central banks and DFIs; in 2019 our first central bank members, De Nederlandsche Bank in Holland and the Bank of Finland joined the PRI. “The fires ranging in the Amazon, Indonesia and beyond, threaten the natural carbon sinks which absorb rapidly escalating greenhouse gas emissions. For leading asset owners, there are collaborative initiatives such as Climate Action 100+ (CA100+) and the recently launched UN Net Zero Asset Owner Alliance. The intermittency ceiling is high and rising. Investors must act to address biodiversity loss, The PRI is an investor initiative in partnership with, PRI Association, 25 Camperdown Street, London, E1 8DZ, UK. However, countries with rising demand and pollution issues and those with significant fossil fuel imports will drive the transition. In 2005, the PRI’s founding signatories primarily came from the world’s largest public pension funds. What are the Principles for Responsible Investment?

The transition will be sequenced.

Financial Markets Overview; More Actions that You Can Take The incentives for policymakers to speed up the energy transition within the near term are thus rising and significant. It quantifies the impact of this response on the real economy and financial market. The EU’s Action Plan on Sustainable Finance is maybe the most visible example of this trend. If you have any questions, please contact us at blog@unpri.org. Falling renewable electricity costs play an important part of “why” a policy response is likely to occur. The trillion dollar energy windfull (pdf). The world can now enjoy a renewable energy windfall – a Gigafall. Investors have a critical role to play in developing and harnessing these technologies to help preserve the Amazon forest.”. To learn more, including how to block cookies, read our privacy policy. And the PRI’s 10-year Blueprint puts asset owners at the heart of our response to key sustainability issues.. How do we support asset owner signatories? “As investors, we have a responsibility to address these threats within our portfolios across the value chain from agricultural producers to the banks that finance them. In 2020 we will be releasing three separate guides on selection, appointment and monitoring of external managers, as well as useful tools to underpin these practices, building on existing resources such as the RI review tool for trustees. At the launch of the PRI there were more asset owner signatories than investment managers. Please note that although you can expect to find some posts here that broadly accord with the PRI’s official views, the blog authors write in their individual capacity and there is no “house view”.

They produce more local jobs, increase social justice and are extremely popular. Among the signatories are some of the largest investment managers and asset owners (30 percent of signatories) from around the globe, representing more than 30 countries. For any questions or suggestions, please contact assetowners@unpri.org. We would like to thank all the 500 asset owners who have now joined the PRI and whose collective ambition is driving responsible investment forwards. What are the Principles for Responsible Investment? We use cookies to improve your experience on this website. Working together in a decade of action. The imperative to act is still there. The role of policy as enabler. “In signing this statement, investors representing a significant portion of global capital are pledging their support for the Amazon region, which has been devastated by fires and deforestation,” said PRI CEO Fiona Reynolds. In Europe large players like Talanx Group (Germany), Poste Vita (Italy), and Ageas (Belgium) joined. danielle.chesebrough@unpri.org +1 212 907 1301. Renewable costs are below those of fossil fuels. This blog is written by PRI staff members and guest contributors.

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