United Nations Principles for Responsible Investment
The United Nations Principles for Responsible Investment were publicly launched in April 2006. The UNPRI is an investor initiative in partnership with UNEP finance initiative and the UN Global Compact. Over $4 trillion, including the Nathan Cummings Foundation, endorsed the Principles at the launch; additional signatories now bring the total to over $10 trillion. The Principles are voluntary and aspirational. They are not prescriptive, but instead provide a menu of possible actions for incorporating environmental, social and governance (ESG) issues into mainstream investment decision-making and ownership practices.
The PRI grew out of an established and growing view among investment professionals that ESG issues can affect the performance of investment portfolios, but that these issues are not yet being adequately incorporated into investment decision-making and ownership practices. PRI signatories include the United Nations Joint Staff Pension Fund, the Swedish National Pension Funds, Canada Pension Plan Investment Board, CalPERS, Munich Reinsurance Company, the Norwegian Government Pension Fund, the National Pensions Reserve Fund of Ireland, the South African Government Employees Pension Fund and the Danish Labour Market Supplementary Pension.
NCF was instrumental in the formation of the UNPRI. The Foundation served on the Investor Group that helped to design the principles and continues to be an active signatory.
2006/2007 Assessment Results accessible here
2007/2008 Assessment Results accessible here
2008/2009 Assessment Results accessible here
Putting NCF’s 2009 scores into context
Scores shown in most charts do not take into account an organization’s size when determining rankings. In many of the charts, NCF is scored against significantly larger organizations. For instance, the 54 non-corporate pension plan signatories to the UNPRI have median assets under management (AUM) of $8.3 billion while the 39 corporate pension plan signatories have median assets under management of $1.7 billion. NCF’s assets currently stand at around $400 million. For this reason, the chart on page 12 showing NCF’s scores relative to PRI asset owners falling into the smallest quartile with respect to AUM may provide a more accurate reflection of NCF’s performance.
As noted by the PRI Secretariat, 2009 scores may have unexpectedly gone down in some areas versus 2008. This may be because of changed weightings, or, for example, because of the shifting of questions from Principle 1 to the GPS (governance, policy and strategy) section.
Scores have been calculated based on signatories’ self assessment and using the scoring methodology approved by the PRI Assessment Group. Not all responses have been independently verified by the PRI Secretariat, PRI Assessment Group, or any other third party. Individual results including comparisons to the overall results (quartiles) are indicative and do not imply an endorsement of signatory activity. While this information is believed to be reliable, no representations or warranties are made as to the accuracy of information presented, and no responsibility or liability can be accepted for any error, omission or inaccuracy in this information.
