The Pension Boards-United Church of Christ (PBUCC) has been accepted as a signatory to the United Nations-supported Principles for Responsible Investment (PRI), joining more than 1,900 organizations around the world that have publicly demonstrated their commitment to responsible investment.
"Becoming a PRI signatory is a testament of PBUCC’s witness of sustainable investment," said President and CEO Brian R. Bodager. "This further aligns us with organizations working toward the greater good and a just world.”
The Pension Boards defines sustainable investment as the "double bottom line objective of 'doing good' for creation and humankind as measured by ESG (environmental, social and governance) criteria, and 'doing well' for financial performance, measured by accepted benchmarks for PBUCC members, stakeholders, and faith communities."
PRI signatories commit to adhere to six principles that emphasize the increasing relevance of ESG issues to investment practices, a process convened by then-United Nations Secretary-General Kofi Annan in 2005.
“This is a major step in our efforts to achieve the goals of our strategic plan to become a thought leader on Faith and Finance for the UCC and the wider community,” said the Rev. Richard Walters, PBUCC's Director of Corporate Social Responsibility. "It is our commitment as caring professionals to provide valued services to our members that lead to greater financial security and wellness. Investing responsibly in companies that seek the moral good of humankind and the planet is one of those valued services."
“We hold ourselves, and all our partners, to standards that reflect our shared commitment to the sustainability of our world and its people,” said Brian Bodager. I am excited that the Pension Boards has just become a signatory to the United Nations’ Principles on Responsible Investing (UNPRI). This is a strong affirmation of our Faith and Finance initiative as it relates to investment activities.”
The PRI’s CEO Fiona Reynolds added: “We welcome the Pension Boards as a PRI signatory and applaud their commitment to sustainable investments through the integration of ESG considerations into the investment process, which will bring long-term benefits to their beneficiaries.”
The Principles for Responsible Investment (PRI) is the world's leading proponent of responsible investment. It works to understand the investment implications of environmental, social and governance (ESG) factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions. The PRI acts in the long-term interests of its signatories, of the financial markets and economies in which they operate and ultimately of the environment and society as a whole.
The PRI is truly independent. It encourages investors to use responsible investment to enhance returns and better manage risks, but does not operate for its own profit; it engages with global policymakers but is not associated with any government; it is supported by, but not part of, the United Nations.