PRI nature initiative to focus on Latin America and Indonesia

The PRI’s upcoming nature initiative will target up to 80 companies and focus on their policy engagement in Argentina, Paraguay, Bolivia, Brazil and Indonesia, Responsible Investor can reveal.

In January, RI reported that the investor network was planning to launch a nature initiative that would involve PRI signatories using “engagement and other stewardship tools” to positively influence companies across a range of sectors to address forest loss, land degradation and other environmental issues.  

In April, the PRI provided further details on the initiative, announcing that it will target corporates over their political activities and likely expand to engagement with policymakers. 

The network also said that, as a first step, the nature initiative will focus on corporate influence regarding any policy areas that have an impact on forest loss and land degradation.

Further details are included in a request for proposals put out by the network for a service provider to develop a company selection framework and identify priority policies to focus on. 

In particular, it revealed that Argentina, Paraguay, Bolivia, Brazil and Indonesia will be the targeted geographies.

“The initiative aims to contribute to real-world change in key geographies with high risks of future forest loss and land degradation,” according to the document. 

Relevant public policies include domestic policies concerning land use, conservation and production in the countries listed, as well as relevant demand-side regulations in countries where forest-risk commodities are consumed. They may also include broader international trade and investment agreements.

The RFP reveals that up to 80 companies will be engaged. It also appears to suggest that the focus will be on entities that are likely to have influence on policy in the geographies. 

The document says: “To identify the selected companies, the consultant should develop a methodology to map corporate influence in priority policy arenas, based on how companies influence these arenas.” 

Once a list is drawn up, the PRI will make the final decision on the focus companies of the initiative. This decision will be “based the list provided in this project but may also consider a company’s direct or indirect exposure to deforestation risks”, the RFP says. 

The project by the selected firm is set to conclude in December.