Arleta Majoch, Andreas Hoepner, and Tessa Hebb have a new article out (Sources of stakeholder salience in the RI movement: Why do investors sign the principles for responsible investment?) that is being featured in the most recent installment of RI Quarterly.
Signing the six Principles for Responsible Investment (PRI) expresses commitment to becoming a responsible investor, but beyond that it means different things to different organisations. Some have only just made the decision to move towards more responsible investing, while others are already integrating environmental, social and governance (ESG) issues into every asset class. In this empirical paper, Majoch et al. examine the stakeholder relationship between the PRI and investor signatories, how it has changed over time, and how it varies between different types of investor. The findings highlight pragmatic legitimacy, organisational legitimacy, power attributes and management values as the factors having the most impact on why investors sign up to the PRI. Read the full article here (scroll to page 11).