Morningstar is backing a bid by Sustainalytics CEO Michael Jantzi to become a board member of the Principles for Responsible Investment (PRI).
Jantzi is among four service provider representatives that have put themselves forward for the one open service provider board seat at the initiative.
“The PRI has an important role to play in enhancing the quality of data, research, tools and services developed in partnership with asset owners and asset managers.”
His candidacy is being officially seconded by Morningstar, the Nasdaq-listed investment research firm that took a 40% stake and a board seat at Sustainalytics, the ESG research provider, in 2017.
The move consolidated the partnership between the two firms on ESG fund ratings, whose sometimes controversial methodology was updated recently (see RI coverage).
It came as Morningstar acquired proxy-tracking firm Fund Votes and Sustainalytics bought India-based research house Solaron and engagement firm GES International.
In his candidate statement, Jantzi calls the PRI a “beacon” in the industry and says his experiences building Jantzi Research and Sustainalytics have taught him to balance board-level strategic/governance responsibilities with the practical day-to-day realities of management.He stresses the role he thinks the PRI should have in ESG data: “I believe the PRI has an important role to play in enhancing the quality of data, research, tools and services developed in partnership with asset owners and asset managers. In order for this to happen, a vibrant, innovative, healthy and diverse service provider community is required.”
Jantzi’s rivals for the service provider slot include current PRI board member Peter Webster, Director of International Affairs at Vigeo Eiris, which was taken over by credit rating agency Moody’s earlier this year in a €50m deal.
His candidacy is seconded by Sustainable Investments Institute (Si2), QUICK ESG, SITAWI – Finance for Good, and Germany’s Imug.
Also standing are Giles Gunesekera , CEO of Australian impact investment firm Global Impact Initiative (seconded by Sustainable Platform) and Susheela Peres da Costa, Head of Advisory at Regnan Governance Research and Engagement, the Australian governance outfit (seconded by Responsible Investment Association of Australasia).
There are also three candidates competing for two open asset owner positions.
They are existing directors Eva Halvarsson of Sweden’s AP2 and Hiromichi Mizuno, CIO of Japan’s Government Pension Investment Fund (GPIF).
The third asset owner candidate is Rafael Soares Ribeiro de Castro, Executive Manager of Compliance and Internal Control, PREVI, the Brazilian pension fund.
Voting started yesterday and runs until November 15. The results will be announced a week later and the new directors’ three-year terms start on January 1 2020.
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