Phoenix Group has become a signatory to the UN-supported Principles of Responsible Investment (PRI), confirming its commitment to including environmental, social and governance (ESG) factors in investment decision making and ownership.
As at December 2020, Phoenix is the largest UK asset owner signatory in the UK.
The PRI works to understand the investment implications ESG factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions.
The PRI was launched in April 2006 with support from the United Nations. Since then the number of signatories has grown from 100 to over 3,000 members with combined assets across the members being in excess of $110 trillion.
Institutions who sign commit to the PRI’s six key principles and to regularly reporting on their progress. The principles are:
Principle 1: to incorporate ESG issues into investment analysis and decision-making processes.
Principle 2: to be active owners and incorporate ESG issues into our Group’s ownership policies and practices.
Principle 3: to seek appropriate disclosure on ESG issues by the entities through which our Group invests.
Principle 4: to promote acceptance and implementation of the Principles within the investment industry.
Principle 5: to work together to enhance effectiveness in implementing the Principles and
Principle 6: to report on activities and progress towards implementing the Principles.
Phoenix Group chief investment officer Michael Eakins says: “We’re proud to be a signatory to the UN-supported Principles of Responsible Investment as an asset owner. As a long term investor ESG factors present risks and opportunities to our investment portfolios. We are committed to responsible investment that benefits the environment and society as a whole. This has become even more important during the Covid-19 pandemic and we look forward to taking a leading role in this space.”
PRI CEO Fiona Reynolds says: “We are thrilled to welcome Phoenix Group on board as a signatory. Their commitment to including ESG factors into investment decision making and ownership is commendable, and we look forward to working together in the future.”
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