UNPRI’s Next Reporting Period Delayed Until Early 2023
In August 2021, the United Nations-supported Principles for Responsible Investment (PRI) released a statement on its Reporting Framework pilot, delaying the opening of the next PRI reporting period until early 2023 and providing guidance for the 2021 reporting process.
For the 2023 reporting cycle, signatories will be able to choose whether they want to report the 12-month period for 2021 or 2022 but will not be required to report on both. New signatories that would have had their voluntary reporting period in 2022 will not have to report until the 2024 reporting cycle, with the 2023 reporting cycle being voluntary.
While most signatories found that the new framework better captured their responsible investment activities, many signatories found that the time and resources required to report on the framework was too high.
The updated online reporting tool created navigation and functionality challenges that caused problems for the review process and affected the quality of a portion of its 2021 dataset, as some submissions contained data gaps or errors. PRI is currently working to identify any further data set issues and will subsequently take a staged approach to releasing signatories’ 2021 outputs.
In October 2021, signatory Transparency Reports will be privately released in the PRI data portal. Signatories will have four weeks to review their responses and to request for PRI to change any indicators affected by gaps or errors. This must be completed by all signatories before PRI can launch the public Transparency Reports and signatories’ annual Assessments, which it currently plans to deliver by June 2022.
The announcement and implementation of further minimum requirements will be postponed, and engagement with signatories identified as not meeting the minimum requirements in 2021 will be delayed as well.
If you have questions for us on any of the topics highlighted here and how we can help you, please reach out to our ESG advisory team to request a meeting.
How We Help
Our ESG advisory specialists are on hand to help you with your PRI reporting and get ahead of incoming changes. Our solutions include:
- Third Party Readiness Reviews: identify any gaps in the internal controls and processes so that the signatory can make appropriate changes and be ready for external assurance.
- Program Management: get on top of the reporting enhancements for the next reporting period with our comprehensive, customized ESG program management solution.