PRI books £2.6m profits driven by grant funding and PRI Academy

Signatory fee revenue grew by 22% over the same period

The Principles for Responsible Investment (PRI) made £2.6m (€3m) last financial year – up 49% (£1.8m) on the previous year. 

According to its latest financial report, filed with Companies House last week, the growth in earnings was supported by a rise in grant funding received by the body, increasing by 51% over the past year to £2.3m in 2020-21, and receipts from the PRI’s online course subsidiary PRI Academy, which grew by 64% to £1.2m.

Fee revenue from signatories grew at a slower pace over the same period, increasing by 22% to £17.3m on the back of a 26% growth in membership to 3,829 signatories at the last count.

The de facto global ESG industry body has largely kept expenditure levels in check, spending £19m in 20-21, an increase of just 6% from the year prior – although it is not known whether this was a temporary effect of the Covid pandemic. A breakdown of expenses was not provided.

Despite the strong performance, the PRI did not report any turnover from membership events in 2020-21 as working from home arrangements were kept largely in place. The PRI recorded close to £3m revenue from events in 2019-20, and £1.8m in the year prior.