The reporting process

How is PRI reporting evolving in 2024 and how does it affect different groups of signatories?  

Reporting in 2024 will be voluntary for most investor signatories that reported publicly in 2023. Reporting remains voluntary for signatories that are in their grace period in 2024 and remains on hold for service provider signatories.  

Reporting will be mandatory for investor signatories that opted not to report in 2023 because they were in their grace period, or only completed reporting privately, and those that reported on a mandatory basis but did not meet the minimum requirements.  

Signatories that report in 2024 will need to complete all relevant modules to them and all core (mandatory) indicators. In keeping with 2023 reporting, asset owners will not be able to report on asset class modules. 

When can we start reporting?

In 2024, signatories will have a 12-week window from May until July to submit their report. The exact dates will be confirmed ahead of the Reporting Tool opening – check the R&A Updates webpage for the latest developments. 

Signatories can already start preparing by using the Reporting Framework modules and guidance published on the PRI website. 

Will our report be assessed/scored by the PRI?

The PRI only assesses investors’ reports. Scores continue to be confidential and provided per module or per asset class/sub-strategy. The PRI does not provide an overall organisation score.

How long does it take to report?

This will vary based on the type of signatory (investment manager or asset owner) as well as the organisation’s size, structure and asset mix, which will determine which modules must be completed and what information flow and data tracking systems are in place.

How can I contact the PRI for reporting-based queries?

Send an email to [email protected].

Can I report in another language?

The official reporting language for the PRI is English. An English translation should be provided for any text entered in other languages.

What happens if my organisation is delisted?

Signatories required to report on a mandatory basis that do not submit their reported data by the deadline will be entered into the delisting process. We have previously included signatories delisted for failing to report in our Annual Report. A signatory can only relist after they have completed their reporting in the next available reporting window, and the grace year will not apply again. 

If a signatory chooses to delist during the reporting cycle (including because they do not wish to complete the Reporting Framework), their account will be suspended when they have been delisted. Previously submitted reports that have been published will remain on the Data Portal (under the delisted category) but the organisation will cease to have access to this platform. 

All submitted data will be retained in the PRI’s public and private databases. This is covered by the terms and conditions of the Reporting Tool. The PRI databases, including data from delisted signatories that submitted reported data, will be used to produce the aggregate statistics used in PRI data outputs such as snapshot reports and assessment analysis reports. Only active signatories will receive a copy of their Assessment Report. 

Will signatories be delisted for failing to report in 2024?   

As reporting in 2024 is voluntary for investor signatories that reported publicly last year, as well as for those in their grace period, these signatories will not be delisted if they choose not to report.  

For mandatory reporters, signatories that fail to report by the given deadline will be considered for delisting, as outlined in the Signatory Rules. 

Which year’s data will signatories report on in 2024? 

As in previous years, signatories will be able to specify the 12-month period they report on. The reporting year may be the normal financial reporting year or a period that has been selected specifically for the purpose of reporting in the PRI Reporting Framework. Most signatories report on the most recent 12-month period and would, therefore, in the 2024 reporting cycle, report on their practices during 2023. 

We recommend that signatories keep the year-end date of the 12-month period they choose to report for PRI reporting consistent across years, to enable more accurate data analysis and comparison of scores across years. 

Do larger signatories have an advantage over smaller ones when reporting? If so, then what apparatus is in place to mediate this? 

Due to the nature of the PRI’s diverse signatory base, the Reporting Framework has been designed to capture responsible investment practices irrespective of an organisation’s size or level of experience. In addition, the PRI’s assessment methodology does not promote any specific investment strategy or engagement method – its aim is to showcase best practices in responsible investment across asset classes worldwide. 

Signatories have the option to filter for other signatories’ reports by size on the Public Reports page and can use the Customise Peer Function in the Data Portal to view signatories in their peer group and the practices they are engaged in.    

How does the PRI verify the accuracy of submissions?    

Because the PRI is not a regulatory body, we do not actively validate the accuracy of submitted data. However, we do take steps to reduce reporting errors and enhance the credibility of PRI data:    

• Reports are made public.   
• The Reporting Framework includes questions on confidence building measures a signatory has taken to ensure credibility of reported data     

Signatories are also welcome to demonstrate or improve the credibility of the information they report through any of the following measures:    

• Soliciting third-party independent assurance of selected processes and/or data related to their responsible investment processes, resulting in a formal assurance conclusion. 
• Undergoing a third-party readiness review and making changes to internal controls/governance or processes in preparation for an external assurance review.    
• Conducting an internal audit of selected responsible investment processes/and or data reported to the PRI.   

Will there be any changes to the reporting outputs (public and private Transparency Reports and Assessment Reports)? 

The PRI will continue to provide signatories with reporting outputs, including private and public Transparency Reports and Assessment Reports, as these are the main tools they use for learning and internal communication, as well as benchmarking progress. Assessment Reports will continue to be completely confidential and shareable at the signatory’s discretion. Only signatories that report in 2024 will receive reporting outputs for this year. 

What outputs will signatories receive if they report in 2024?  

Signatories that report in 2024 will receive Transparency and Assessment Reports, in line with our normal reporting processes. If they submit the same information as they did in 2023 (i.e. they confirm the pre-filled answers to each indicator without making any changes) then their 2024 outputs will reflect that. If signatories eligible for voluntary reporting choose not to report, they will not receive any outputs for this reporting year. 

Can signatories select their own peering groups?

Yes, signatories can select their own peering groups. This functionality is available in the Data Portal. Please see our Data Portal User Guide.

I am new to reporting. How do I access the Reporting Tool?

Fill in the Registration form and tick the ‘Request access to Reporting Tool’ box. You will receive an activation link within one hour.

The Admin user(s) of your organisation will need to invite you to access the Reporting Tool. For more information, see our Permissions System  (PDF) guide.

Please note that the Reporting Tool will only be open during the live reporting window.

I forgot my password for the Reporting Tool. How do I get a new one?

Enter your email address on the Forgotten password screen to reset your password.

Will I be required to re-register to use the new Reporting Tool? 

To avoid disruption, users of the reporting platform should check that they have access before the start of the reporting cycle. Each signatory’s Admin user(s) will have access to the Permissions System, where they can approve, deny or revoke a user’s access. Any new users will be invited by their Admin user(s) before they can access the Reporting Tool. Read our Permissions System  (PDF) guide for more information.

How does pre-filling work?

If your organisation started or submitted a report in 2023, you will automatically see your previous responses prefilled in the Reporting Tool and highlighted by an amber box. If these responses are still accurate, you do not need to change them. However, you will still need to click ‘Save’ or ‘Save and continue’ before navigating between indicators, to ensure that the status of the module shows as ‘In progress’.

If a prefilled response is no longer accurate, it can be amended. You must click ‘Save’ or ‘Save and continue’ to ensure any changes are recorded. If you do not save the changes you make, they will be lost, the response will revert to the original prefilled answer and the status of the module will continue to show as ‘Not Started’ on the overview page.

We strongly encourage signatories to review all answers before submitting their reports, as changes cannot be made one the reporting window closes.

My organisation started completing a report last year but did not submit it. Will our answers be pre-filled?

Yes, any answers that were saved in the Reporting Tool last year will automatically appear this year and will be highlighted by an amber box. As highlighted above, you will need to review and/or update these pre-filled responses and click ‘Save’ or ‘Save and continue’, to ensure that any changes are recorded and that the module status reflects your progress, before navigating between indicators.

How many indicators will be pre-filled in the Reporting Tool?

Automated pre-filling will be in place for all signatories that reported in 2023, with 249 out of 257 indicators in the Reporting Tool prepopulated (circa. 97%). Indicators that are not pre-filled either relate to an answer specific to the current reporting year or have been updated or amended to fix errors identified during the 2023 reporting cycle or to improve logic and clarity. Signatories can use their 2023 Transparency Reports and the Indicator Changes Guide to identify where they might need to amend their prefilled answers or where indicators will not be prefilled.

Can I download my reporting survey responses as I complete them?

Yes, you can download your reporting survey responses as you complete them. Once you have logged into the Reporting Tool and have accepted the Reporting Terms and Conditions, the Organisational Overview and Senior Leadership Statement modules will be available to answer and you will be able to download your prefilled or new responses. The download will onyl include your responses to unlocked indicatos. Once you start unlocking the other modules relevant to your organisation, you will be able to download your pre-filled or new responses to these as well, by using the “Click to download a DOCX version of this indicator” button at the top of the Overview page.

How does the PRI develop Reporting Framework modules?

The PRI regularly updates the Reporting Framework to ensure that it reflects best practice and allows signatories to report on their RI activities. Occasionally, modules in the Reporting Framework need to be changed more extensively to reflect updates in the investment industry. Changes to the PRI Reporting Framework will be made for the following reasons:

• To clarify points of confusion or provide improved guidance to signatories;
• To support a more robust assessment methodology;
• To facilitate better analysis of the data;
• To strengthen accountability;
• To respond to input from the PRI Board.

How was the PRI Reporting Framework developed?

PRI reporting was introduced in 2006 under a self-assessment model, and following extensive signatory consultation, the reporting and assessment process was developed to ensure signatory responses were more robust.  

A pilot version of the Reporting Framework was launched for testing in June 2012 – with signatories reporting on ESG incorporation for the first time. In 2021, we asked signatories to report on the depth of ESG incorporation and on sustainability outcomes for the first time.  

Looking forward, we recognise that our approach to reporting needs to evolve further, to ensure that the PRI can maintain its signatory-centric approach while adapting to broader industry shifts. The investment reporting landscape has changed significantly in recent years, as have our signatories’ needs and challenges. 

We are doing this by making reporting more flexible in 2024, while we determine its future direction in tandem with our work on developing the Progression Pathways for signatories to develop and progress their responsible investment practices in a more targeted way.  

Why do we have to disclose our AUM? 

The PRI requires signatories to provide an AUM figure upon joining and then every year they complete the Reporting Framework. We use this information in several ways:

• To assign the correct fee band to signatories
• To calculate the overall PRI signatory AUM
• To create peer groups for signatory assessment
• For signatory segmentation activities, including calculating the size of asset class allocations

Can we prevent our AUM and/or other indicators from being disclosedin our Transparency Reports?

Signatories that are unable to comply with the AUM or core indicator disclosure requirements may submit a formal request to the PRI for non-disclosure in their Transparency Report. We do not expect these requests to be necessary except in rare situations.

What are the grounds for submitting a non-disclosure request?

As a guideline, signatories may submit a request to the PRI where disclosing their organisation’s response to a particular indicator would:   

• conflict with local legislation or regulation;
• conflict with an-existing company policy (for example, a non-disclosure policy that is not specific to ESG issues).

PRI will also consider requests where signatories cannot be transparent about their AUM figure for confidentiality reasons.

Requests of this type will be considered but are less likely to succeed where the policy jeopardises a signatory’s ability to fulfil Principle 6: We will each report on our activities and progress towards implementing the Principles.

Signatories may not submit a request for non-disclosure on the following grounds:

• General non-disclosure policies relating to ESG information. Reporting and disclosing responsible investment activities is a requirement of being a PRI signatory.
• Disagreement about the form or structure of a particular indicator. In these cases, signatories should provide feedback to PRI. 

How and when can I submit a non-disclosure request?

Signatories may submit a non-disclosure request by sending a letter on their company letterhead to [email protected], detailing the indicator(s) affected and the reasons for the request.

The deadline to submit such a request for the 2024 cycle is 12 July 2024. Signatories wishing to appeal should continue to complete their reporting, without submitting their responses.

The PRI will contact signatories directly to inform them of the decision about their request. If granted, the Transparency Report will not contain the information that has been requested.   

Can signatories apply for a deadline extension for reporting to the PRI?

The 2024 reporting window will close on 26 July, and it is crucial that signatories report by this date for the PRI to correctly assess responses and provide high-quality outputs. As such, the PRI will only grant extensions in extenuating circumstances.

Signatories had the opportunity to submit a formal extension request in July if they were unable to complete and submit a report by the deadline due to such circumstances. The deadline to request an extension has now passed.

We encourage all signatories to begin reporting in order to meet the 26 July reporting deadline.