In brief: PRI extends 2023 reporting deadline

The PRI attributes the extension to a 'high demand for access' to its online platform amid its first reporting cycle in two years.

The Principles for Responsible Investment has extended the deadline for signatories to complete its annual report to 20 September 2023. The extension is “to manage high levels of demand for access to the reporting system”, a spokesperson for the PRI told New Private Markets. Two signatories told NPM that they encountered technical issues with the online reporting system.

Nearly 3,000 of the PRI’s 5,328 signatories have either completed this year’s reports or reached the final stages of the reporting process, a source familiar with the system told NPM. The majority of the world’s biggest private fund managers are signatories to the PRI, whose reporting system is an opportunity for ESG data standardisation across private markets.

This is the first PRI reporting cycle in two years. The PRI introduced the online system in 2021 to accompany a shift in reporting focus and a new scoring system. The changes encountered technical glitches and criticism from many signatories; the PRI subsequently put the reporting requirement on hiatus through 2022 to improve its system.