Recall came after ‘inaccurate’ data from survey software.
Hundreds of signatories to the $22 trillion United Nations Principles for Responsible Investment (PRI) are expected today to receive a revised PRI ‘score’ based on their reponse to the organization’s annual Reporting and Assessment survey, after a software glitch forced a recall of the original scores. The PRI, which has 844 signatories, said its survey software provider had returned an inaccurate datasheet of answers from what it said were “a handful of signatories” and that the results had been skewed as a result. The recall is embarrassing for the PRI, which is in its first year of handing the survey responses internally. The survey was previously compiled by Mercer, the investment consultant. A number of PRIasset manager signatories have already put out market statements based on this
year’s original PRI scores, notably if they were in the top quartile for ESG integration.
Signatories to the UNPRI have to complete the Annual Reporting and Assessment Survey from their second year of membership. After completing the survey, they receive an individual feedback report that highlights for each of six ESG integration principles their relative score compared to other signatories against different sets of peer groups. Jamie Dettmer, director of communications at the PRI, said: “Given that the results are presented on a peer comparison basis all reports had to be recalled to adjust. It is annoying but we like to get things right. The new assessments will be sent to signatories at the end of this month, of course, with our apologies for the inconvenience.”