GLOBAL - The Principles for Responsible Investment (PRI), the international programme set up to consider social responsible investing (SRI) issues, has attracted $8trn (€5.9trn) since launching last April.
The scheme, set up by the United Nations Environment Program Finance Initiative and the UN Global Compact, announced today it has so far attracted 180 institutional signatories globally, and represents firms with assets in excess of $8trn.
Donald MacDonald, chair of the PRI and a trustee of the British Telecom pension scheme, commented: "In the first year, we have focused on spreading the word, signing up investors and putting in place the nuts and bolts to support signatories in implementing the principle, including development of a robust process to monitor progress."
Signatories so far include three of the four Swedish AP funds, AGF Asset Management, JPMorgan Asset Management, HSBC Investments and Scottish Widows Investment Management.
The PRI has also gained momentum in the emerging markets arena, as 16 Brazilian pension funds has joined in recent months, along with Thailand's government pension fund and the South African government's employee pension fund.
"One of the most powerful aspects of the PRI is its global nature," said MacDonald, adding: "Environment, social and governance issues are all becoming more globalized, and investors need to come together to address them."
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