The UN Principles for Responsible Investment (PRI) will require its entire book of 2,250 signatories, including asset owners, investment managers and service providers, together representing more than US$83 trillion of assets, to report how they have considered specific climate change risks in their portfolios from 2020. The body, created by the UN to encourage investors to take a responsible and sustainable approach to managing assets, announced the tough new reporting measures for its members on Feb 20. The specific indicators of risk are those outlined by the Task Force on Climate-related Financial Disclosures (TCFD) and pertain to strategy and governance around climate change. The PRI said using them was high priority as they provided a global framework for translating information about climate into financial metrics. It follows moves by several international bodies to formulate a way of measuring and monitoring how investors account for and consider climate change risks in their portfolios.

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