The Principles for Responsible Investment (PRI) is “actively considering” introducing minimum requirements around the voting and engagement practices for signatories, according to its CEO, Fiona Reynolds.
Writing in RI today, Reynolds said: “This summer, we will be announcing our new minimum requirements, where we are actively considering the inclusion of engagement and/or voting requirements as part of our emphasis on stewardship.”
Reynolds' article comes in response to recent research by specialists at Dutch investment manager Robeco and the Erasmus School of Economics, which found that US-based signatories to the PRI “consistently” supported fewer ESG proposals at US companies than their non-signatory peers. The authors called on the PRI to introduce “pro-sustainable voting behaviour” as a “prerequisite” for achieving a high score in its annual assessment of signatories.
These calls are echoed by other market observers and participant…