Assurance has been increasingly proposed as valuable to a number of inter-linked, high-priority areas to the PRI:
- Advancing accountability and transparency;
- Ensuring the credibility of PRI Reporting Framework responses;
- Differentiating leadership, and;
- Building greater stakeholder confidence.
ASSURANCE WORKING GROUP
The Assurance Working Group launched its work stream in March 2017. The group will help the PRI explore how assurance requirements can contribute to ensuring the credibility of the Reporting Framework responses, differentiating leadership among signatories, and for advancing accountability. The work will culminate in a set of recommendations for how the PRI may introduce assurance requirements for its signatories. The PRI Board will review the recommendations by end of 2017.
2017 March - Assurance Working Group was formally set up
2017 April-August - Research and development of recommendations
2017 September - Issuing a set of recommendations on assurance requirements
2017 September/December - PRI Board review of recommendations
2018 January - Implementation of assurance requirements
The Assurance Working Group will advise the PRI on possible options to make the PRI Reporting Framework more suitable for assurance. The Working Group will also advise the PRI on how it may proceed with introducing assurance requirements and/or other confidence building measures for its signatories. The work will culminate in a set of recommendations issued by the PRI.
More details about the Assurance Working Group can be found here.
Click here for our analysis of the 2017 CM 01 indicator, providing insight into current state of internal review, internal audit and external assurance as well as standards used, type of data assured, as well as distinction between assurance of ESG data and RI processes (November 2017).