The Development Bank of Wales has joined the world’s largest voluntary corporate sustainability initiative.
With 7,000 corporate signatories in 135 countries, the UN Nations-supported Principles for Responsible Investment (PRI) is recognised as the leading global network for investors who are committed to integrating environmental, social and governance (ESG) considerations into their practices and policies. Signatories include institutional investors such as pension funds, insurance providers, sovereign wealth funds and endowment funds.
The principles set by PRI align with the Development Bank’s commitment to incorporating ESG factors into investment, analysis and decision-making processes. This includes seeking appropriate disclosures, promoting acceptance and implementation of the principles and reporting on progress.
Giles Thorley, Chief Executive said: “Responsible investment has always been at the heart of our business model and we are pleased that this now becoming mainstream. Consumers are actively basing their buying decisions on the sustainability, ethics and environmental impact of the products and services that they buy.
“In common with other progressive investment institutions throughout the world, we believe that businesses will be most successful when taking a holistic view of their social and environmental impacts and governance arrangements. As a place-based impact investor delivering debt and equity funding with a social purpose, PRI gives us a blueprint for responsible investment that builds a bridge between financial risk and real-world outcomes. It’ll help us to leverage value from our investments, for the benefit of the people, communities and businesses we support. Ultimately, we’re all working towards a low carbon economy that underpins a stronger, fairer, greener Wales.”
