PRI Awards 2024: Categories and criteria

This year we have also introduced three new categories which will recognise leading responses to the challenges and opportunities faced by signatories in relation to climate, human rights, and nature. This is demonstrated through developing approaches to stewardship, collaboration, capital allocation to deliver better sustainability outcomes. There will be two special awards recognising submissions from signatories who have HQ in the emerging markets or whose submission demonstrates investment allocation or stewardship programmes focused on achieving positive outcomes in an emerging market as well as for those whose submission focuses on activities relating to private markets.

The judging criteria will reflect the broad range of signatories PRI serves - from asset owners and asset managers to service providers – and their distinct role in the investment chain. In different ways, the winners will have introduced practices or undertaken initiatives which improve risk-adjusted returns and / or make a direct impact on sustainability outcomes.  

Submissions might cover stewardship programmes or collaborative initiatives, provision of services, the selection of managers, investment practices or strategies across different asset classes. They might be implemented across individual funds, mandates or investment strategies but should be introduced with the intention of delivering improved sustainability outcomes and / or better risk adjusted returns. The submissions should showcase innovation, change or a new approach that has been introduced or developed significantly in 2023 and 2024. Importantly, these awards will recognise leading practice in each category, they are not ratings, rankings or a judgement on an entire organisation or entity. 

Judging will be undertaken by a panel of independent judges who do not work at PRI signatories and are not existing PRI employees. Previously judges have been drawn from academia, investment industry and not-for-profit organisations. The process will be managed by PRI and bound by our Terms and Conditions. The judges will assess and score all eligible entries against category-specific criteria.  

Submit your entry

Innovation in responsible investment strategy

This award will recognise leading practices and innovation in how asset managers or asset owners have been integrating environmental, social and / or governance factors into asset selection, portfolio construction and/or strategic asset allocation. We invite submissions where the focus is on innovation that leads to improved risk-adjusted returns and could be across public, private or multiple asset classes. It might be applied on individual funds, mandates, organisation wide or an investment strategy. 

Submissions: 

• Should showcase innovative approaches to integrating environmental, social or governance factors into strategic asset selection, portfolio construction and / or asset selection to improve risk adjusted returns.  

• Could be based on public, private market asset classes or multi asset strategies. 

• Could relate to an approach based on a fund, mandate or investment strategy. 

• Will be favoured if they are able to combine improved risk adjusted returns and evidence of improved sustainability outcomes and / or high levels of transparency. 

System stewardship

This award will spotlight achievements in the field of stewardship in 2023 and 2024. Submissions could cover a range of approaches to stewardship such as use of sustainability KPIs, DDQs, collaborative engagement initiatives, shareholder resolutions, portfolio company board influence, policy engagements or projects using other stewardship tools or activities.  

Judges will inform  their judging decisions on the alignment of the project with PRI’s framework for leadership in stewardship: Active Ownership 2.0  and the Legal Framework for Impact.  

Each submission will be assessed based on the degree to which the actions result in progress on sustainability outcomes; seek to address a systemic sustainability issue (i.e. a common goal); and use collaboration between investors and with other stakeholders as a vehicle to achieving real world change. 

Submissions: 

• Should describe a meaningful milestone, event or development in 2023 or 2024 and might be the result of a longer term or ongoing programme. 

• Should articulate a clear rationale for pursuing sustainability outcomes and describe how the initiative or engagement (using selected tools and activities) intends to drive sustainability outcomes (theory of change).  

• Should include evidence of progress towards achieving sustainability outcomes, high levels of transparency and innovative or different approaches.  

• Could be across any asset classes and include engagement with investment managers by asset owners.  

• Collaborative initiatives in any form must be submitted for the initiative overall, rather than for the contributions from one (or a subset of) participant(s). 

• Submissions must either have the sign off from all signatories participating in the initiative or a suitable governance body for the initiative (e.g. a steering committee). See T&Cs for more information. 

• Collaborative engagements that are coordinated solely by the PRI are not eligible for this award.  

Recognition for action – Climate

This award will be given to those who have demonstrated innovative, impactful and transparent action in responding to investment-related challenges and opportunities posed by climate change. It is intended to be open to asset managers, service providers, and asset owners. 

Submissions: 

• For asset owners or asset managers, this could be solely, or a combination of, an investment strategy, strategic asset allocation, stewardship or collaborative initiative and /or impact reporting. 

• Should include evidence of innovative or different approaches which result in sustainability outcomes with high levels of transparency (including clear objectives and areas of progress).  

• Should primarily focus on climate-related actions, but the content can cover other sustainability issues or themes as well. 

• Could cover signatory responses and approaches to transition risks, mitigation, adaptation and / or resilience.  

• Could be based on public, private market asset classes or multi asset strategies. 

• Could relate to an approach based on a fund, mandate or investment strategy. 

• For service providers, this could be an innovative service to provide a solution to problems faced by, or opportunities available to, asset owners or asset managers in relation to climate change such as transition risks, mitigation, adaptation and / or resilience. Examples of submissions from service providers might include research, rankings, data collection & analysis, advice on asset manager selection. 

Recognition for action – Human rights

This award will be given to those who have demonstrated innovation in responding to the challenges that the investment industry has been facing in respecting, promoting and defending human rights. Open to asset managers, service providers, and asset owners. 

This award recognises excellence in taking action on human rights in line with the United Nations Guiding Principles (UNGPs) and OECD Guidelines for Multinational Enterprises across investment and / or stewardship practices. It will be given to those who have developed and implemented innovative, impactful and transparent practices. This category is intended for submissions that significantly advance the protection and promotion of human rights in - and by - the investment community. 

Submissions: 

• Should include evidence of innovative or different approaches which result in sustainability outcomes with high levels of transparency (including clear objectives and areas of progress).  

• For asset owners or asset managers, the submission could relate to commitment, investment strategy, asset allocation, stewardship or collaborative initiative and / or impact reporting 

• For service providers, the submission could be an innovative service to provide a solution to problems faced by asset owners or asset managers in relation to human rights. Examples of submissions might include research, rankings, data collection & analysis, advice on asset manager selection. 

• Could be based on public, private market asset classes or multi asset strategies. 

• Could relate to an approach based on a fund, mandate or investment strategy. 

• The judges will welcome submissions which include practices or initiatives across three pillars of the UN Guiding Principles especially access to remedy. 

Recognition for action – Nature

This award will be given to those who have demonstrated innovative, impactful and transparent action in responding to investment-related challenges and opportunities posed by nature (or specifically biodiversity). It is intended to be open to asset managers, service providers, and asset owners. This category seeks to spotlight actions that significantly contribute to the preservation of natural ecosystems and biodiversity. 

Submissions: 

• Should include evidence of innovative or different approaches which result in sustainability outcomes with high levels of transparency (including clear objectives and areas of progress).  

• For asset owners or asset managers, submissions could be solely, or a combination of, an investment strategy, strategic asset allocation, stewardship or collaborative initiative and/or impact reporting. 

• Could be based on public, private market asset classes or multi asset strategies. 

• Could relate to an approach based on a fund, mandate or investment strategy. 

• For service providers, submissions could be an innovative service to provide a solution to problems faced by, or opportunities available to, asset owners or asset managers in relation to nature. Examples of submissions from service providers might include research, rankings, data collection & analysis, advice on asset manager selection. 

Special award – Emerging markets  

• This is not a separate category but would be selected from submissions from all categories. 

• Submissions would be open to PRI signatories who are either based in, or have developed innovative ways to allocate capital to, emerging markets. 

• The winning submission would be the highest scoring entrant from any of the main awards who have been identified as suitable for this award. 

• This award would be self-selected and eligibility reviewed by PRI.

Special award – Private markets 

• This is not a separate category but would be selected from submissions from all categories. 

• Submissions would only be applicable from signatories who have self-identified that their proposal has a private market focus. This would be reviewed by PRI. 

• The winning submission would be the highest scoring entrant from any of the main awards who have been identified as suitable for this award. 

• This award would be self-selected and eligibility reviewed by PRI.

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