In this episode of the PRI podcast, PRI’s Betina Vaz Boni, speaks with Timothy Youmans from EOS at Federated Hermes. They discuss what corporate purpose is, what the latest leading research says about the future of the corporation and, why this has become a critical issue for investors.

Interested in the resources discussed in this episode?

Enacting Purpose Initiative Report #2: Directors & Investors: Building on Common Ground to Advance Sustainable Capitalism, Miazad, Younger, Eccles & Mayer, July 2021 : https://enactingpurpose.org/assets/epi-report-final.pdf

EOS at Federated Hermes: How to move corporate purpose forward, Youmans, August 2019: https://www.hermes-investment.com/uki/eos-insight/eos/whats-the-purpose-of-business-purpose/

EOS at Federated Hermes: Statement of Purpose Guidance Document, Eccles & Youmans, August 2019: https://www.hermes-investment.com/uki/wp-content/uploads/2019/08/statement-of-purpose-guidance-document-aug-2019.pdf

Harvard Business Review: 3 Ways to Put Your Corporate Purpose Into Action, Eccles Strine & Youmans, May 2020, https://hbr.org/2020/05/3-ways-to-put-your-corporate-purpose-into-action

This podcast explores how the US opioid crisis plays out at the local level, with repercussions not just on lives lost and healthcare costs, but also US municipal bonds and the cost of local authorities’ funding.

Leading the discussion are the PRI’s Carmen Nuzzo, Head of Fixed Income, and Katherine Ng, Head of Research. They’re joined by Eric Friedland, Director of Municipal Research, Lord Abbett, and John Hund, Assistant Professor of Finance, University of Georgia.

Interested in the resources discussed in this episode?

Opioid abuse affects municipal access to capital: https://www.unpri.org/pri-blog/opioid-abuse-affects-municipal-access-to-capital/8827.article

Sub-sovereign debt resources: https://www.unpri.org/investment-tools/fixed-income/sub-sovereign-debt

Fixed income resources: https://www.unpri.org/investment-tools/fixed-income

PRI academic research: https://www.unpri.org/sustainability-issues/research

Find the podcast transcript: https://bit.ly/3Iwl4s6 

This podcast explores how the US opioid crisis plays out at the local level, with repercussions not just on lives lost and healthcare costs, but also US municipal bonds and the cost of local authorities’ funding.

Leading the discussion are the PRI’s Carmen Nuzzo, Head of Fixed Income, and Katherine Ng, Head of Research. They’re joined by Eric Friedland, Director of Municipal Research, Lord Abbett, and John Hund, Assistant Professor of Finance, University of Georgia.

Interested in the resources discussed in this episode?

Opioid abuse affects municipal access to capital: https://www.unpri.org/pri-blog/opioid-abuse-affects-municipal-access-to-capital/8827.article

Sub-sovereign debt resources: https://www.unpri.org/investment-tools/fixed-income/sub-sovereign-debt

Fixed income resources: https://www.unpri.org/investment-tools/fixed-income

PRI academic research: https://www.unpri.org/sustainability-issues/research

Find the podcast transcript: https://bit.ly/3Iwl4s6 

In this episode of the PRI podcast, the PRI’s Stewardship Specialist, Livia Rossi, speaks with Barbara Davidson from the Carbon Tracker Initiative and Caroline Escott from Railpen about carbon accounting. They discuss the integration of the financial impacts of climate-related matters into companies’ financial statements and explore the results of Carbon Tracker’s report “Flying Blind: The glaring absence of climate-related risks in financial reporting”.

They reflect how better transparency on this systematic issue can help investors understand the extent to which management have considered the effects of the goals of the Paris Agreement, and how Climate Action 100+ will provide information to help investors engage, vote or allocate capital more efficiently and effectively.

Find the podcast transcript: https://bit.ly/3GeSHNc

In this episode of the PRI podcast, the PRI’s senior lead in listed equities, Michal Bartek speaks with Edris Boey of Maitri Asset Management.

They reflect on the key developments in ESG incorporation in APAC region, discuss what it takes for investment organisations to be or keep up with the leaders in the field.

Find the podcast transcript here: https://bit.ly/3AptNJr

In this episode, the PRI’s Simon Whistler talks with Chris Clubb from Convergence and Nadia Nikolova from Allianz Global Investors on the role of blended finance in driving more sustainable investment in emerging markets. They discuss the challenges and opportunities blended finance provides for institutional investors, and why it can be such an important tool delivering more investments that will speed progress towards Net Zero and the SDGs.

Find the podcast transcript here: https://bit.ly/3qcd0ow

In this episode of the PRI podcast, the PRI’s director of Investment Practices, Toby Belsom, speaks with Marcel Jeucken from Sustfin and Daniel Ingram from Wilshire, both co-authors of PRI's recent discussion paper about ESG in Investment Mandates.

In this discussion, our guests explain why integrating ESG and sustainability outcomes into mandates is important from an Asset Owner perspective, and share experiences of working with Asset Owners trying to put this into practice. While segregated mandates are often the preserve of large AOs, the dialogue highlights tools available to smaller AOs who invest in co-mingled or pooled funds.

Find the podcast script here:

https://bit.ly/3IQZa36

PRI CEO, Fiona Reynolds, has a candid conversation with Chloe Horne, Specialist – Stewardship and Vaishnavi Ravishankar, Senior Specialist – Governance about her nearly decade-long leadership of the organisation, her agenda post-PRI and hopes for the future of the responsible investment industry.

Find the podcast transcript here: https://bit.ly/31L32Sc

In this episode of the PRI’s human rights podcast series, the PRI’s Bettina Reinboth speaks to Surya Deva, Chair of the UN Working Group on Business and Human Rights and John Morrison, CEO of the Institute of Human Rights and Business, on the impact of the UNGPs during the last decade since they were established, and what we should expect for the next decade.  

Find the podcast transcript here: https://bit.ly/3Ihzc8K

The PRI’s Jasper Cox discusses how environmental, social and governance issues affect the credit risk of US municipal bonds with PIMCO’s Emily Robare and Breckinridge Capital Advisors’ Andrew Teras.

Find the podcast transcript here:

https://bit.ly/3cXYeey

In this second special episode of the PRI podcast, we shine the spotlight on what happened in Glasgow, at COP26.

Host Liz Barnes speaks with the PRI’s CEO, Fiona Reynolds, to take stock of the conference, looking at some of the key takeaways from COP26, and discussing what needs to be done next.

Find the podcast transcript here: https://bit.ly/3DGbTCZ

In this episode of the PRI podcast, Michal Bartek, senior lead in listed equities from PRI speaks with Peter Michaelis from Liontrust.

They reflect on the key developments in responsible investing in decades past, discuss the likely issues in the next decade and explore what it takes for listed equity asset management firms to be among the leaders.

Find a transcript of the episode here: https://bit.ly/3CZIcw8

During this episode, Eline Sleurink, Head of UK and Ireland and Middle East, Dave Gorman, Head of Social Responsibility and Sustainability, University of Edinburgh and Ben Pollard, CEO and Cofounder, Cushon discuss how the University of Edinburgh and Cushon have set a net zero target, the first steps they are taking to achieve this, how they built a business case for net zero internally, and how they are holding themselves accountable.

Find a transcript of the episode here: https://bit.ly/2Y5tDIr

In this quarterly podcast, PRI’s Aiman Zaidi speaks with Marie Luchet, Director of Continental Europe, Signatory relations about the key activities of the PRI from the past quarter and what to expect from the PRI for the remainder of the year about climate mitigation, upcoming events, our human rights work and much more.

Find a transcript of the episode here: https://bit.ly/2ZANW0U

In this episode of the PRI podcast, PRI’s Director of Policy Margarita Pirovska interviews the co-author of the Legal Framework for Impact, David Rouch from Freshfields.

Find a transcript of this episode here: https://bit.ly/3B9WvgV

In the fourth episode of the PRI’s human rights podcast series, Nikolaj Pedersen speaks to biomedical researcher, health rights advocate, and Head of Policy at the UCL Institute for Innovation and Public Purpose, Els Torreele and Peter Hughes, fund manager at AXA Investment Managers about COVID-19 vaccine ownership and distribution and what investors can do to promote fair and equal access.

As of July this year, more than 80% of vaccine doses globally had been given to individuals in high and upper-middle-income countries. Only 1% of people in low-income countries at the time had had at least one dose. 

The United Nations commissioner on human rights has stated that "affordable, non-discriminatory access to the vaccine is a human right" and because of the failure to provide fair and equal access to the vaccine the World Health Organisation has stated that the world "is on the brink of a catastrophic moral failure".

The economic consequences are also grave with an estimated $9.2 trillion lost if governments fail to ensure that developing economies have access to COVID-19 vaccines

What is wrong with the current research and development system? Why does ownership of IP, know-how and technology matter? And what can investors do?

Listen to this episode as we explore these questions with our esteemed guests.

Find a trascript of this episode here: https://bit.ly/3CqbNhN

Interested in the resources discussed in this episode?

Investors issue urgent call for “fair and equitable” global response to COVID-19: https://accesstomedicinefoundation.org/news/investors-issue-urgent-call-for-fair-and-equitable-global-response-to-covid-19

Study shows vaccine nationalism could cost rich countries US$4.5 trillion: https://iccwbo.org/media-wall/news-speeches/study-shows-vaccine-nationalism-could-cost-rich-countries-us4-5-trillion/

Campaigners warn that 9 out of 10 people in poor countries are set to miss out on COVID-19 vaccine next year: https://www.oxfam.org/en/press-releases/campaigners-warn-9-out-10-people-poor-countries-are-set-miss-out-covid-19-vaccine

In this episode of the PRI podcast, PRI CEO Fiona Reynolds speaks with Jon Lukomink and James P. Hawley, co-authors of the recently published book, Moving Beyond Modern Portfolio Theory: Investing That Matters.

They discuss how finance theory can be reframed to break down the barriers between capital markets and the real world, and the notion that we are in the third stage of corporate governance.

Find a transcript of this episode here: https://bit.ly/3Ef6Ry3 

In the seventh podcast of a series on the ESG in Credit Risk and Ratings Initiative, Sixtine Dubost (PRI) speaks with Madeleine King (Legal & General Investment Management) and Elisabeth Rudman (DBRS Morningstar) about governance factors, how they affect the probability of default of an issuer or of a bond issue and why their relevance is increasing.

Find a transcript of this episode here:

https://bit.ly/3tmCwsm

Our guest speakers, Alex Cobham from Tax Justice Network and Ryan Gurule from the FACT Coalition will be sharing their insights on the global tax reforms and implications for investors.

Find a transcript of this episode here:

https://bit.ly/3yuxdrB

In this episode of the PRI podcast, the PRI’s director of investment practices, Toby Belsom speaks with Alex van der Velden of Ownership Capital.

They discuss Alex’s journey to becoming a leader in the field of ESG integration in listed equity, his views on current practices and how they are evolving, and the challenges and opportunities that remain for investors looking to integrate ESG issues within their listed equity investments.

Find a transcript of this episode here: https://bit.ly/3Bgkuei 

Join Carol Jeppesen, Head of US, in this quarterly update episode of the PRI podcast. In this episode, Carol runs through key updates from the PRI.

Beneficiaries are increasingly interested in how their money is managed, and the demand for investors to take heed of this is growing.

Join the PRI’s Emmet McNamee and special guests Xander den Uyl, Trustee, ABP (and PRI board member), and Marion Maloney, Head of Responsible Investment, Environment Agency Pension Fund in this episode of the PRI podcast.

Xander and Marion discuss how they have gone about understanding the sustainability preferences of their pension scheme members and the changes in practices member feedback has led to. They discuss how to balance beneficiaries’ preferences with fiduciary duty, and how to approach the costs of undertaking beneficiary engagement.

Further resources:

Understanding and aligning with beneficiaries’ sustainability preferences: https://www.unpri.org/strategy-policy-and-strategic-asset-allocation/understanding-and-aligning-with-beneficiaries-sustainability-preferences/7497.article

Beneficiary survey template: https://www.unpri.org/download?ac=13335

In the third episode of the PRI’s human rights podcast series, the PRI’s Elena Espinoza speaks to two members of Grenfell United, a group of survivors and bereaved families of the Grenfell Tower fire, and Simon Whistler, real assets lead at the PRI. 

The Grenfell Tower fire occurred early in the morning of Wednesday 14 June 2017 in North Kensington, London. It spread quickly through the tower block’s 24 stories, taking the lives of 72 people and injuring many more.

After the disaster, it emerged that the cladding that was put on the tower during its refurbishment fuelled the fire.

As a result of mounting pressure from bereaved families, investors have been selling shares in Grenfell Tower cladding firm Kingspan.  

In this episode, Grenfell United speak about the ways in which they raised concerns before the fire and how they have engaged with investors who are tied to companies linked with the tragedy.

The PRI's Simon Whistler then reflects on Grenfell United’s testimony, outlining how investors can strengthen their due diligence processes and describing the lessons that investors internationally can learn.

Interested in the resources discussed in this episode?

Grenfell United

Investors sell of shares in Grenfell Tower insultation firm Kingspan

US judge allows lawsuit against Grenfell Tower cladding firm

Drawing on insights from 2021’s AGM season, this PRI podcast episode dives into the subject of achieving meaningful outcomes through investor stewardship, particularly in the context of climate action and decarbonisation. The guest speakers share both academic and practical insights on the stewardship tools and practices at investors’ disposal when considering climate action as a systemic issue and from a universal ownership perspective.

With only four months to go until COP26 in Glasgow, our last major opportunity to get back on track with the goals of the Paris Agreement and limit global warming to 1.5 degrees C, investor action on climate has never been more critical.

In this podcast we will explore the steps Wellington Management are taking to help lead the charge, as one of the of the first asset management firms to make a net-zero carbon emissions pledge.

In the sixth podcast of a series on the ESG in Credit Risk and Ratings Initiative, Sixtine Dubost (PRI) focusses with Barbara Cohen (Scope Ratings) and Shawn Keegan (Alliance Bernstein) on social factors, how they affect the probability of default of an issuer or of a bond issue and why their relevance is increasing.

What does investing with an outcomes approach mean and what does it entail? In this podcast, PRI CEO Fiona Reynolds and William Burckart, President and COO of TIIP discuss the role of data and measurement to support investment decision-making.

PRI’s Jasper Cox speaks with Joanna Woods and Susan Burns about how climate change affects sovereign bonds through both physical risk and transition risk, and how investors can measure this.

Market practitioners discuss the reasons why, despite lagging compared to other fixed income sub-asset classes, investors in securitised products are sharpening their focus on ESG consideration. From regional differences between the US and European markets to the emerging of new ESG-labelled products, the podcast explores the drivers behind growing interest as well as the challenges that investors encounter as they begin to incorporate more systematically ESG factors in the evaluations of this sophisticated asset class.