The Principles for Responsible Investment group is urging asset and investment managers to step up stewardship policies to push through greener, more sustainable investment strategies.
The PRI, developed by an international group of institutional investors reflecting the increasing relevance of environmental, social and corporate governance issues to investment practices, said that "while 70% of investment managers said they have a stewardship policy, important details were often lacking."
In some cases, policies were only applicable to a small percentage of AUM or provided limited details on specific issues – leaving room for improvement.
"Less than half outlined approaches to stewardship on climate-related risks and opportunities." the PRI said.
"Stewardship is an impactful tool for delivering outcomes on systemic issues, and investment managers should use it more widely to deliver climate stability," the group stressed.
