Principles for Responsible Investment (PRI) is a United Nations (UN) supported international network of financial institutions working together to implement six principles which offer a menu of possible actions for incorporating Environmental, Social and Governance (ESG) issues into investment practice (see more information about PRI).
Signatories to this initiative are asset owners, investment managers and service providers. They commit to the principles and are required to report publicly on their responsible investment activities each year.
The cross-border social dialogue component
The PRI has an extensive range of collaborations and stakeholder relationships across a wide range of institutions. These collaborations, partnerships and relationships vary based on activity and/or project type. However, cross-border social dialogue takes place within the Advance Technical Advisory Committee (TAC) where a representative from the Committee on Workers’ Capital (CWC) and from the International Transport Workers Federation (ITF) sits.
Advance is a collaborative stewardship initiative where institutional investors work together to take action on human rights and social issues. Investors use their collective influence with companies and other decision makers to drive positive outcomes for workers, communities and society. The initiative was set up in May 2022 and has been coordinated by the PRI since then.
The TAC is comprised of PRI stakeholders with deep expertise on social issues and human rights, such as multilateral institutions, human rights organizations, unions and civil society groups. The TAC provides technical advice on human rights to inform the PRI Executive’s decision-making around the development and strategy of the initiative. The group also assists with the inclusion of stakeholder perspectives in the initiative.