Royal London signs up to PRI; pledges to make ‘positive contribution’

Royal London has become the latest UK-based firm to sign up to the UN-backed Principles of Responsible Investment (PRI).

The mutual provider said its commitment to the voluntary principles was part of its aim of generating good returns while making a “positive contribution to society and the environment”.

The six voluntary principles include the incorporation of environmental, social and governance (ESG) issues into investment analysis and decision-making, factoring ESG issues into ownership policies and practices, and seeking disclosure on ESG matters from investee entities.

Royal London said that it expected its asset managers to work with the companies they invest in to improve the way they are run by using voting shares, meeting with management, or pushing for higher industry standards.

The PRI principles were launched by a multinational group of 20 institutional investors in April 2006, with the number of signatories having grown from 100 to over 2,300 in the intervening years.

Royal London Asset Management, Royal London’s sister company, has been a signatory since 2008.

In September 2019, five pension funds and providers from the UK were named in the PRI leader's group: the Environment Agency Pension Fund, Strathclyde Pension Fund, BT Pension Scheme, TPT Retirement Solutions and the Universities Superannuation Scheme.

Royal London Intermediary chief executive, Isobel Langton, commented: “Royal London is committed to being a responsible investor. This means being a good steward of our customers’ assets and promoting responsible investment and good governance across all asset classes.

“Signing the UN PRI and reporting against their framework demonstrates our commitment towards a more sustainable global financial system.”

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