GLOBALRESPONSIBLEINVESTMENTTRENDS:INSIDEPRIREPORTINGDATAMARCH2025AninvestorinitiativeinpartnershipwithUNEPFinanceInitiativeandUNGlobalCompact2PREAMBLETOTHEPRINCIPLESAsinstitutionalinvestors,wehaveadutytoactinthebestlong-terminterestsofourbeneficiaries.Inthisfiduciaryrole,webelievethatenvironmental,social,andgovernance(ESG)issuescanaffecttheperformanceofinvestmentportfolios(tovaryingdegreesacrosscompanies,sectors,regions,assetclassesandthroughtime).WealsorecognisethatapplyingthesePrinciplesmaybetteraligninvestorswithbroaderobjectivesofsociety.Therefore,whereconsistentwithourfiduciaryresponsibilities,wecommittothefollowing:THESIXPRINCIPLESPRI'sMISSIONWebelievethataneconomicallyefficient,sustainableglobalfinancialsystemisanecessityforlong-termvaluecreation.Suchasystemwillrewardlong-term,responsibleinvestmentandbenefittheenvironmentandsocietyasawhole.ThePRIwillworktoachievethissustainableglobalfinancialsystembyencouragingadoptionofthePrinciplesandcollaborationontheirimplementation;byfosteringgoodgovernance,integrityandaccountability;andbyaddressingobstaclestoasustainablefinancialsystemthatliewithinmarketpractices,structuresandregulation.WewillincorporateESGissuesintoinvestmentanalysisanddecision-makingprocesses.1WewillbeactiveownersandincorporateESGissuesintoourownershippoliciesandpractices.2WewillseekappropriatedisclosureonESGissuesbytheentitiesinwhichweinvest.3WewillpromoteacceptanceandimplementationofthePrincipleswithintheinvestmentindustry.4WewillworktogethertoenhanceoureffectivenessinimplementingthePrinciples.5WewilleachreportonouractivitiesandprogresstowardsimplementingthePrinciples.6Thisdocumentisprovidedforinformationonly.Itshouldnotbeconstruedasadvice,norreliedupon.PRIAssociationisnotresponsibleforanydecisionoractiontakenbasedonthisdocumentorforanylossordamagearisingfromsuchdecisionoraction.Allinformationisprovided“as-is”withnoguaranteeofcompleteness,accuracyortimelinessandwithoutwarrantyofanykind,expressedorimplied.PRIAssociationisnotresponsibleforanddoesnotendorsethird-partycontent,websitesorresourcesincludedorreferencedherein.TheinclusionofexamplesorcasestudiesdoesnotconstituteanendorsementbyPRIAssociationorPRIsignatories.Exceptwherestatedotherwise,theopinions,recommendationsandfindingsexpressedarethoseofPRIAssociationaloneanddonotnecessarilyrepresenttheviewsofthecontributorsorPRIsignatories(individuallyorasawhole).Itshouldnotbeinferredthatanythirdpartyreferencedendorsesoragreeswiththecontentshereof.PRIAssociationiscommittedtocompliancewithallapplicablelawsanddoesnotseek,requireorendorseindividualorcollectivedecision-makingoractionthatisnotincompliancewiththoselaws.Copyright©PRIAssociation(2024).Allrightsreserved.Thiscontentmaynotbereproduced,orusedforanyotherpurpose,withoutthepriorwrittenconsentofPRIAssociation.PRIDISCLAIMERGLOBALRESPONSIBLEINVESTMENTTRENDS:INSIDEPRIREPORTINGDATA|20253FOREWORDKEYFINDINGSABOUTTHISREPORTPRISIGNATORYBASEOVERVIEWSENIORLEADERSHIPCOMMITMENTSANDPRIORITIESINVESTMENTPRACTICESPOLICIESANDGOVERNANCEINVESTMENTANALYSISANDDECISION-MAKINGSTEWARDSHIPWITHINVESTEESANDASSETSPARTICIPATIONINCOLLABORATIVEINITIATIVESPOLICYMAKERENGAGEMENTEXTERNALMANAGERSELECTION,APPOINTMENTANDMONITORINGDISCLOSUREISSUESINFOCUSCLIMATECHANGEHUMANRIGHTSANDSOCIALISSUESAREASFORDEVELOPMENTANDNEXTSTEPSMETHODOLOGYCONTENTS458910121212141717192324242830314FOREWORD2024wasayearo...