Back to all announcements

UN's PRI gains momentum at European launch

The United Nations' Principles for Responsible Investment (PRI) initiative has received a huge boost with 18 new signatories announced at its European launch.

Major European financial institutions including the asset management arms of Holland's ABN AMRO, France's BNP Paribas and F&C Asset Management from the UK have signed up to the principles, which provide guidelines to institutional investors on ethical investment.

They join 32 institutions who have already signed up, and the total of 50 signatories now represent some $4 trillion of investment funds backing the initiative.

Monique Barbut, director of the UN Environment Programme, which drew up the principles, said that the weight of support for the principles given by the big financial institutions demonstrated the integration of environmental, social and governence (ESG) issues into modern business thinking.

"The principles provide a blueprint for what is fast becoming the only way to do business in the globalizing markets of the 21st century," said Ms Barbut.

Announcing its participation, Amsterdam-based bank ABN AMRO said it believed that the principles were in the best interests of investors, as although ESG issues could be seen as 'extra-financial' factors, they still had the potential to affect the performance of investments.