GLOBAL - The Principles for Responsible Investment (PRI) and Enhanced Analytics Initiative (EAI) have aligned their interests in a formal agreement.
Going forward, they will encourage cross membership and the sharing of best practice between all members of the two organisations. They will also look at ways to better integrate environmental, social and governance issues into mainstream investment processes.
Commenting on the alignment, BT Pension Scheme trustee and chair of the PRI board, Donald MacDonald, said: “Members of the EAI are broadly engaged with the fiduciary approach of the Principles and provide excellent examples of the practical implementation of key PRI principles.”
“It is clear that analysts have failed to address adequately extra-financial factors such as environmental, social and governance issues. EAI represents a serious effort to send long term signals to industry and deliver better research to investors”.
David Blood, chairperson of the EAI, commented: “The PRI is very much aligned with the goals of the EAI and we welcome closer ties between the two initiatives.
"This collaboration demonstrates a shared and growing conviction ... that factors beyond traditional financial analysis are affecting performance of investment portfolios. A significant number of organisations are a member of both initiatives, and we believe there are strong synergies to be gained from working together.”
The EAI announced two new members in December: Firstly, Robeco, the Dutch asset manager, became the 22nd firm to join its ranks; and secondly, the US$156bn California State Teachers’ Retirement System (CalSTRS) became the first major US public fund to join, signing up as an associate member.
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