Principles for Responsible Principles launches
New principles seek to tackle risks around the proliferation of principles in the sustainable finance space
The Principles for Responsible Principles (P4RP) launches today amid concern that the growing number of voluntary codes creates a reputational risk for the better known and more established sets of responsible principles if their numbers continue to proliferate unchecked.
The five responsible principles reflect those of similar initiatives and aim to create self-regulation within a sector that lacks clear KPIs.
1. We will incorporate the P4RP into our responsibly principled processes to ensure they are consistent with and build upon the work done by other responsible and principled organisations.
2. We will work together with governments, regulators and other key stakeholders to promote widespread action across society to reduce the proliferation of responsible principles, thereby protecting future generations.
3. We will implement our commitment to these principles through effective governance and a culture of principled responsibility.
4. We will proactively and responsibly consult, engage and partner with relevant stakeholders to achieve the P4RP’s goals while promoting acceptance and implementation of the P4RP within all responsibly principled communities.
5. We will each report on our activities and progress towards implementing the P4RP.
For further information please visit the official Principles for Responsible Principles website at P4RP.org.