11TH ANNUAL CONFERENCE

HIGHLIGHTS

FROM THE WORLD’S LEADING RESPONSIBLE INVESTMENT CONFERENCE

25-27 September 2017 InterContinental Berlin

An investor initiative in partnership with UNEP Finance Initiative and UN Global Compact PRI IN PERSON 2017 AT A GLANCE

In 2017, the PRI has continued to grow and now has over 1,800 signatories representing more than US$68 trillion in AUM. Following our ten-year celebrations in MORE ACTIVE THAN EVER 2016, this year we published a Blueprint for responsible investment, which outlines our key focus areas for the next decade. Many of these themes were discussed at the eleventh annual PRI in Person, with climate action, the Sustainable Development Goals ON THE PRI IN PERSON APP (SDGs), signatory accountability and the sustainable financial system among the topics on the agenda. 97,988 1,476 856 Held in Berlin, this year’s conference was one of the largest and most diverse, TOTAL PAGE VIEWS MESSAGES SENT UNIQUE VISITORS attracting close to 1,000 delegates from 39 countries, with many different levels of responsible investment experience. It also boasted one of our most comprehensive programmes to date: four keynotes, seven plenary sessions, 24 breakouts across four streams, and two unique evening events. ON TWITTER

Delegate feedback “There is no other event that attracts the quality of discourse and enthusiasm for responsible investing as PRI in Person.” 8MIL 2,621 IMPRESSIONS GENERATED TWEETS “Great event: high level of engagement, detailed, right speakers, right topics, good BY THE PRIINPERSON HASHTAG logistics. Really well done!” TRENDED AT “PRI in Person is THE responsible investment conference every investor should attend. Continue the good job in San Francisco next year!” 163 #7 “Excellent networking, collaboration, genuine learning environment and very inclusive.” IN THE US DURING THE FIRST DAY NEW FOLLOWERS OF THE CONFERENCE

NEARLY , PARTICIPANTS FROM  MORE THAN WERE FIRSTTIME  STREAMS COUNTRIES PRI IN PERSON ATTENDEES ORGANISATIONS REPRESENTED 4

of delegates rated their experience at PRI in Person 2017 35 95% as either “good” or “excellent” SESSIONS 140+ SPEAKERS

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MORE ACTIVE THAN EVER

ON THE PRI IN PERSON APP 97,988 1,476 856 TOTAL PAGE VIEWS MESSAGES SENT UNIQUE VISITORS

ON TWITTER 8MIL 2,621 IMPRESSIONS GENERATED TWEETS BY THE PRIINPERSON HASHTAG TRENDED AT #7 163 IN THE US DURING THE FIRST DAY NEW FOLLOWERS OF THE CONFERENCE

NEARLY , PARTICIPANTS FROM  MORE THAN WERE FIRSTTIME  STREAMS COUNTRIES PRI IN PERSON ATTENDEES ORGANISATIONS REPRESENTED 4 of delegates rated their experience at PRI in Person 2017 35 95% as either “good” or “excellent” SESSIONS 140+ SPEAKERS

3 EVENT SUSTAINABILITY The PRI is committed to preventing, reducing and/or mitigating the environmental impacts of PRI in Person. Sustainability initiatives at the 2017 event included:

■■ the InterContinental Berlin is a Green Globe certified venue and is powered solely by renewable energy sources; ■■ PRI in Person 2017 was again ‘paper-free’: there was no paper delegate pack and exhibitors were discouraged from providing paper handouts; ■■ we offset 1,322.72 tonnes of carbon to cover delegates’ transportation to and from the conference, as well as venue electricity; ■■ through our ISO 14001 certification, we maintained a register of environmental impacts for the event; ■■ conference collateral such as lanyards, badge holders, banners, carpets and furniture were all made from recycled materials; ■■ as in previous years, all catering during the lunch and refreshment breaks was vegetarian, and all tea and coffee was Fairtrade certified; ■■ food at all venues was sourced from local suppliers wherever possible, with a focus on sustainable, seasonal produce; ■■ no plastic water bottles or disposable plates and cups were used by our caterers during the conference or evening events; ■■ leftover food from the conference was delivered to homeless shelters in Berlin.

More information about the PRI’s event sustainability policy is available here.

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CONFERENCE SUMMARY

KEYNOTES PRI in Person 2017 featured four thought-provoking keynote addresses. First up was Per Bolund, the Swedish Minister for Financial Markets and Deputy Finance Minister, who focused on the role of financial markets in building a sustainable economy. He began by urging the politics and finance sectors to take a much stronger focus on climate risks, saying “there are still too many actors…that are still investing with the policies of yesterday, not today”. He went on to discuss ’s efforts to “move into a sustainability hyperloop”, outlining legislative reforms for

Per Bolund and Martin Skancke discuss the role of financial markets in building a sustainable economy

VIDEO AVAILABLE

both pension funds and fund managers, as well as initiatives to publicly highlight the top-performing investors from an ESG perspective. The minister called for continued co- operation between governments and businesses to deliver on the commitments of the Paris Agreement and the SDGs. In an interview with PRI Chair, Martin Skancke, he closed by saying how pleased he has been with the response from the Swedish financial sector during his first three years in post.

BUILDING TRUST IN A CHANGING WORLD ORDER The social issues segment at the start of day two was opened by Alexandra Borchardt, Director of Strategic Development at the Reuters Institute for the Study of Journalism, University of Oxford, and former Managing

Alexandra Borchardt speaking during facts, fakes and “There are still too freedom: building trust in a changing world order many actors…that are still investing with the policies of yesterday, not today.” VIDEO AVAILABLE Per Bolund, Swedish Minister for Financial Markets and Deputy Finance Minister

5 Editor of Süddeutsche Zeitung. She spoke of the rise of THE 2020 CHALLENGE populism and the growing power of technology companies to shape the views of the electorate. Her speech touched The final keynote speaker of the conference was Mission briefly on many themes to be discussed in more detail 2020 Convenor Christiana Figueres, appearing via video during the conference, including inequality, automation link. Ms Figueres, who previously spoke at PRI in Person in and fake news. In closing, she outlined her vision for a 2014 in her role as Executive Director of UNFCCC, began better future: “we must gather our strength and affirm our by thanking PRI signatories for their “incredible support” values – human rights, dignity, freedom and opportunity in the run-up to the Paris Agreement. The PRI’s Montreal for everybody – and these values need to be implanted in Carbon Pledge had, she said, been “critical in giving federal technology.” governments the confidence they needed to be able to negotiate the Paris Agreement”.

BRINGING RESPONSIBLE INVESTMENT TO THE MAINSTREAM On the afternoon of day two, Nicolas Moreau, CEO of Deutsche Asset Management, shared his perspective on sustainability from his current position at the helm of a major mainstream investor, as well as some lessons learnt during his career in . He opened on a Ms Figueres urges investors positive note, declaring “there is no longer anything I see to look at climate change or hear in boardrooms around the world that detracts as their number 1 priority from my fundamental optimism about the trajectory of sustainable finance.” He acknowledged that many companies and investors needed to see ESG risks result in underperformance, fines or loss of reputation before they were willing to change their approach, but “even the most cynical investor [can now] see the damage” that ESG factors can cause to returns. Drawing on his experience as an insurer, Mr Moreau urged investors to more carefully consider their exposure to physical climate risk, as well as VIDEO AVAILABLE transition risk.

“There is no longer anything I see She went on to outline some of the progress that has been made since then, citing increased investment and falling or hear in boardrooms around costs in the clean energy sector, the work of the FSB Task Force and the growth of the green bonds market as positive the world that detracts from my examples. However, she argued that the pace of change must speed up: “we have run out of time for anything that fundamental optimism about the is gradual, for anything that is marginal”. To this end, Ms trajectory of sustainable finance.” Figueres concluded with a challenge: for PRI signatories to invest 1% of their AUM in clean technologies and renewable Nicolas Moreau, CEO of Deutsche Asset Management energy by 2020, and to show how they will do so by next year’s PRI in Person. This became one of the most memorable moments of the conference.

MS FIGUERES’S CHALLENGE

Nicolas Moreau and Monika TO OUR SIGNATORIES Jones, the conference MC, share views on sustainability To invest 1% of their AUM in clean technologies and renewable energy by 2020, and to show how they will do so

VIDEO AVAILABLE by next year’s PRI in Person.

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Environmental sustainability is very much aligned with the PRI’s values. All catering during the lunches and refreshment breaks were fully vegetarian and sourced from local suppliers wherever possible, with a focus on local, sustainable, seasonal products.

7 KEY THEMES AND HOT TOPICS Panellists discuss the risk of stranded assets PRI in Person 2017 featured seven plenary sessions and 24 breakouts on a wide range of topics, many of them aligned with our Blueprint for responsible investment.

One theme was climate, which was high on the agenda throughout the conference. Breakout sessions addressed the risk of stranded assets and the FSB Task Force recommendations, and there was also time to discuss opportunities in the climate and green finance space.

Jean Boissinot, Director of Financial Stability at the French AUDIO AVAILABLE Treasury and one of the authors of the Article 173 law on climate disclosure, highlighted the role that regulation and government action can play in setting a strong foundation and “getting people moving”.

Joachim Wuermeling, a board member at the Deutsche Bundesbank, spoke about what central bankers can do to promote green finance. On the same panel, French and Australian investors outlined the green investment opportunities they have grasped against very different regulatory backdrops.

How can investors encourage companies to AUDIO AVAILABLE disclose better on climate?

From left: Sagarika Chatterjee, Jean Boissinot, Garry Weaven, Joël Prohin​ and ​Joachim Wuermeling​​ speaking about global climate opportunities

VIDEO AVAILABLE

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From left: Georg Kell, David Wood, Helga Birgden and Jason Mitchell discuss the investment risks and opportunities associated with social cohesion and inclusive growth

VIDEO AVAILABLE

However, the conference did not focus entirely on E issues: From left: Shami Nissan, Rob Wilson much of day two was dedicated to the S in ESG, with and Annie Bersagel share insights breakouts on human rights and labour practices, and a about driving human rights forward plenary discussion covering economic inequality and mass across asset classes migration.

Moderator Georg Kell framed this session by saying “As we move into the digital economy, income inequality will become an ever-bigger challenge…and on human settlement and refugees we already have the biggest crisis in modern history”. Harvard academic David Wood then presented the case for why investors should take economic inequality into account, citing it as an umbrella issue for S factors in AUDIO AVAILABLE the same way that climate is for E factors. He noted that recent research by the IMF and OECD has demonstrated the materiality of inequality and, in answering the question “what can investors do?”, encouraged signatories to participate in the realisation of the SDGs.

“As we move into the digital economy, income inequality will become an ever-bigger challenge…and on human settlement and refugees we already have the biggest crisis in modern history.” Georg Kell, Chairman of the Board at Arabesque Asset Management Ltd, Founding Director of the United Nations Global Compact

9 THE SDG INVESTMENT CASE goals are highly relevant to pension funds because of their capacity to drive long-term economic growth while shaping The next session drew on a recent project by the PRI and the world in which beneficiaries will claim their pensions. PwC which explores the Investment Case for the SDGs. In respect to the “how”, the discussion centred on the need The PRI’s Kris Douma was joined by three asset owners to first identify which SDGs are investable, and then to and one investment manager to discuss why the SDGs assess the options for action. The panel agreed that lack of are relevant to investors and how to approach them. In data and metrics still presented a challenge, but saw this answering the first question, CalPERS’s Anne Simpson said as an opportunity as well, with Ms Simpson commenting: that the SDGs are “not just a moral imperative, they are an “necessity is the mother of invention…this will generate a economic necessity,” and all the panellists agreed that the whole new area of work.”

From left: Kris Douma, Alexandra West, Jose Meijer, Anne Simpson, and Bertille Knuckey discussing the investment case for the SDGs

VIDEO AVAILABLE

“The SDGs are not just a moral imperative, they are an economic necessity.” Anne Simpson, Investment Director of Sustainable Investments, CalPERS

Another developing theme – building sustainability into the financial system From left: Jonathan Rogers, Janet Cowell and Christian Thimann share thoughts on how to make a sustainable financial system a – was highlighted in two panels on the reality afternoon of day one. The chair of the EU High-Level Expert Group on Sustainable Finance, Christian Thimann, was positive about the progress the group has made on the political environment, corporate engagement and regulatory framework, while noting that there is still more to do. Referring to the financial crisis and recovery, he asked “how do we go from short-term stabilisation to long-term impact? The system is stable but we need to ask if it finances the real economy we want.”

VIDEO AVAILABLE

10 From left: Niall Bohan, Jen Sisson, Amane Fujimoto, Glenn Davis, Curtis Ravenel and Will Martindale discuss responsiblePRI IN PERSON 2017 | HIGHLIGHTS investment regulation

VIDEO AVAILABLE

THE TRUMP EFFECT Investment strategy: In contrast to the European focus on regulation, former AOs and global systemic North Carolina State Treasurer Janet Cowell asserted drivers that progress in the US will be driven more by markets, consumers and technology than by government policy. She acknowledged there has been a shift back to fossil fuels since the election of President Trump, but argued that there is a strong market for sustainable financial products if they are packaged correctly, especially among younger consumers.

In the following panel, which looked at global regulatory AUDIO AVAILABLE trends, the Council for Institutional Investors’ Glenn Davis and Bloomberg’s Curtis Ravenel were even more upbeat. They argued that the “Trump effect” has created an impetus for the private sector to act on responsible investment. However, Mr Davis expressed concerns about Methane: engaging on a the implications of the Financial Choice Act for investors. rising risk Representatives of the UK’s FRC and Japan’s FSA shared experiences of implementing stewardship codes, both of which have been well-received and impactful, while Niall Bowen of the EU Capital Markets Union singled out Article 173 as a best-practice example of current ESG regulation.

As well as these broader and newer themes, PRI in Person also covered core responsible investment practices. The extensive programme of breakout sessions looked at investment strategy, bondholder engagement and manager AUDIO AVAILABLE selection.

There were also deep dives into asset classes such as hedge funds and infrastructure, and ESG issues including cyber security, methane and remuneration. In addition, two plenary Reinventing remuneration: making sessions looked in detail at ESG integration and active executive pay work ownership, reflecting the first two of the PRI’s six Principles.

ACCESS ALL AUDIO RECORDINGS

AUDIO AVAILABLE

11 On the afternoon of day two, a panel of leaders came Sneyers argued that “you cannot have ESG managed as a together to share their experiences of embedding ESG separate process by a separate team”, with Michael Schmidt considerations in their organisations at a strategic level. of Deka Investments adding that ESG factors have to “go Despite having approached ESG issues from different viral…get anchor points in each of the teams and then the directions – demand from clients and owners, compliance message spreads”. with current regulation, future-proofing against potential regulation, and enhanced performance were all cited as Hiro Mizuno, PRI board member and Executive Managing drivers – the panellists agreed that the most important Director and CIO of GPIF, took the idea of spreading the factor in successfully integrating ESG issues is to secure message a step further, speaking of the fund’s efforts to buy-in at all levels. Several panellists mentioned internal extend this ESG culture to other actors in the investment education and the need to change portfolio managers’ chain – for example by mandating that its passive managers mindsets. To achieve this, LGT Capital Partners’ Tycho become active stewards, and by engaging with corporates.

From left: Helene Winch, Eva Halvarsson, Steffen Hoerter, Hiro Mizuno, Michael Schmidt and Tycho Sneyers speak about systematically integrating ESG across asset classes for long term, sustainable returns

VIDEO AVAILABLE

ACTIVE OWNERSHIP IN THE From left: Valeria Piani, Xi Li and Jean- SPOTLIGHT Pascal Gond address the question: is shareholder engagement adding value? Continuing with the theme of active ownership, day three opened with a special plenary discussion to unveil the findings of two pieces of PRI-commissioned research. The first study identified the presence of a lead investor as the most important factor in successful collaborative engagement. It also found geographic location of investors is important, and the most effective model features a lead investor based in the same country as the target company, with supporting investors distributed globally. The second study found that corporates valued the engagement process as a means of learning about best practice and identifying areas for improvement, as well as getting a clearer picture of how they are viewed by investors. Both investors and corporates also saw political benefits in terms of raising the profile of sustainability within their organisations and securing resource. As well these non-financial benefits, the research found that successful engagement increases profitability in target firms, providing a strong business case for active ownership. VIDEO AVAILABLE

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MEDIA HIGHLIGHTS

Nearly 20 international journalists attended PRI in Person 2017, including leading German media outlets, as well as representatives from the UK, European, US and Asian press. Frankfurter Allgemeine Zeitung, Boersen-Zeitung, Handelsblatt, the Financial Times, Pensions & Investments, Investment & Pensions Europe, IFR Asia, Next-Finance, Environmental Finance and Responsible Investor were among the media outlets who attended the event.

Media highlights: • Quotes in two of ’s most significant newspapers, Frankfurter Allgemeine Zeitung (FAZ) and Boersen-Zeitung on how policymakers in Germany need to drive responsible investment forward and the launch of the new sustainable finance hub in Germany. • An interview with our Mananging Director in Next-Finance, a French financial website for institutional and retail investors. • Quotes from our Mananging Director in Pensions & Investments on the importance of cybersecurity, and citing PRI’s collaborative engagement on this issue. • Quotes from our Director of Investment Practices and Engagement in Responsible Investor on the significance of the SDGs.

Fiona Reynolds : « L’idée que la Politischer Rechtsruck irritiert durabilité a permis de diminuer les Geldverwalter rendements a été régulièrement érodée par de nombreuses études READ THE ARTICLE

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PRI in Person: Stewardship, ESG policy, climate action New five-year investor climate action initiative launched at PRI in READ THE ARTICLE Person READ THE ARTICLE

Silver lining for ESG seen in US Deutsche Börse will nachhaltige withdrawal from Paris Accord Investments fördern

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13 Sustainable progress needs a PRI in Person: Physical risks of sustainable system climate change ‘underappreciated’ READ THE ARTICLE READ THE ARTICLE

PRI fordert Einsatz der Politik Investors to Press Managers on ESG READ THE ARTICLE Claims

READ THE ARTICLE Environmental Finance Figueres throws down climate gauntlet to PRI Cybersecurity becoming READ THE ARTICLE a big ESG concern

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Fund managers make mock pitches

Asset owners embrace ESG NEWS Europe in quest for sustainability Sustainable development goals a priority Board: ESG staff need good harmony Happy workers mean quality companies PRI signatories challenged to act now The value of corporate engagement GIPF, AP2 go granular on ESG integration

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ATTENDING ORGANISATIONS

2 Degrees Investing BMO Global Asset Management AB BNP Paribas Asset Management Aberdeen Asset Management Board Agenda Aberdeen Standard Investments Boston Common Asset Management ABP BPCE Vie Abris Capital Partners Brandywine Global Absolut Research Brass Plate ACTIAM Bridge International Academies Actis Bridgepoint Addenda Capital British Columbia Investment Management Corporation Aegon Asset Management Brummer & Partners AFL-CIO BSE (Bombay Stock Exchange) AFP Integra BT Pension Scheme Management AG2R La Mondiale Bundesverband Deutscher Stiftungen Aidenvironment BVV Versicherungsverein des Bankgewerbes Alberta Investment Management Corporation CAER Albourne Partners CAIA Association Alecta Caisse de depot et placement du Quebec Global Investors Caisse des Dépôts et Consignations Allianz SE Caja Ingenieros Gestion SGIIC Alpha Governance Partners CalPERS Altamar Capital Partners CalSTRS AMF Canada Pension Plan Investment Board AMP Capital Candriam Amundi Asset Management Capital Four Andra AP-fonden Carbon Delta Anesvad Carbon Tracker Initiative AP1 Cass Business School AP3 CBIS APG Asset Management Cbus Apimec CCLA Arabesque Asset Management CDP Arcus Infrastructure Partners Ceres Ario Advisory ChemSec Arrowgrass Capital Partners Church Commissioners for England Ashburton Investments ClearBridge Investments Asset Management One Climate Bonds CM-CIC Asset Management ATP Coalition for Inclusive Capitalism Auschwitz-Birkenau Foundation Coller Capital NEWS Australian Council of Superannuation Investors (ACSI) Colonial First State Global Asset Management Investors CoLTI Group Comgest B3 Commonwealth Superannuation Corporation Baillie Gifford Conexus Bank J. Safra Sarasin Confédération des syndicats nationaux Bank Julius Baer & Co. Consultiva Internacional Bank of America Merrill Lynch Contrast Capital Banque de Luxembourg Investments Council of Instituitional Investors Barrow, Hanley, Mewhinney & Strauss Credit Suisse Group Batirente CSR Design Green Investment Advisory Bayerische Versorgungskammer CSRinfo BayernInvest Kapitalverwaltungsgesellschaft CtW Investment Group BCGEU Cube IM Beshertine Daiwa Institute of Research Beyond Ratings Danish Insurance Association BlackRock Danske Bank Asset Management Bloomberg Danske Capital BlueBay Asset Management Debevoise & Plimpton

15 Deka Investment FNV DekaBank folksam Deloitte Fonds de Réserve pour les Retraites Delta Lloyd Asset Management Fonds de solidarité FTQ Desjardins Group Foundation for Reporting Standards Deutsche Asset Management Foundation North Deutsche Bundesbank Four Twenty Seven Deutsche Bundesstiftung Umwelt Franklin Templeton Investments Developing World Markets FTSE Russell Development Bank of Japan Fujitsu DG Tresor Fukoku Capital Management Die Bayerische Funcesp Dignity Health Future Fund DNB GCM Grosvenor DONG Energy Generation Foundation Dow Jones GES International DPI GIZ Dritan Alsela Glass Lewis Europe East Capital GLG Partners Ecovalores Global Evolution EdenTree Investment Management Global Proxy Watch Edmond de Rothschild Asset Management Global Reporting Initiative Elo Mutual Pension Insurance Company Global Thematic Partners Employees Provident Fund Malaysia Global Witness Environment Agency GNG - Gesellschaft für Qualitätssicherung Nachhaltiger Geldanlagen Environmental Defense Fund GO Investment Partners Environmental Finance Government Employees Pension Fund EQT Partners Government Pension Investment Fund Japan ERAFP Green Century Capital Management ERM Greeneye Erste Asset Management Greentech Capital Advisors Eskom Pension and Provident Fund Group La Française ET Index Research Groupama AM EthiFinance Hamilton Lane Etica Sgr Handelsbanken Asset Management Eurizon Capital Handelsblatt European Bank for Reconstruction and Development Hannover Rück European Climate Foundation Hannoversche Alterskasse European Commission (DG FISMA) Harvard Management Company Eurosif Harvard University Evangelische Bank Healthcare of Ontario Pension Plan Evli Bank Henley Business School Export-Import Bank of India Hermes Investment Management EY Japan HESTA FAIRR Initiative HK FAZ Hostplus Federal Finance Gestion HQ Trust Féderation des travailleurs du Québec HSBC Bank FERI Trust HSBC Global Asset Management Fidelity Investments IC Research Institute Finance Dialogue ICG Financial Reporting Council ICHEC Brussels Management School Financial Services Agency IFC Financial Times IFM Investors Fineco IIGCC First State Super IMH Squared First Super imug Beratungsgsesellschaft FMO IM INDEFI ESG Advisory FNG - Forum Nachhaltige Geldanlagen Industriens Pension

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InfraRed Median Services Inrate Meeschaert Asset Management Insight Investment Mercer Institutional Investor Metzler Asset Management Institutional Limited Partners Association MFS Investment Management International Corporate Accountability Roundtable Middletown Works VEBA International Corporate Governance Network Ministry of Finance Invesco Ministry of the Environment Government of Japan Investec Asset Management MinterEllison / ESS Super Investment & Pensions Europe Mirova Ipreo Mission 2020 Ircantec Mistra, The Foundation for Strategic Environmental Research Ireland Strategic Investment Fund Mitsubishi Corporation ISS - Ethix MN Itau Unibanco Mondrian Investment Partners ITUC Moneda Asset Management J.P.Morgan Moody’s Investors Service Jarislowsky Fraser Global Investment Management Moore Foundation Kabouter Management Morningstar Kartesia Advisor MP Investment Management KBIGI MSCI Kempen Capital Management Nanyang Technological University Endowment Fund KEPLER-FONDS National Australia Bank Keva National Pension Service Investment Management KfW Bankengruppe Naxicap Partners KGHM Polska Miedź Neuberger Berman Khazanah Nasional New America KKR Newton Investment Management KLP Next Finance KPMG N-Kompass Magazin Kumpulan Wang Persaraan (KWAP) NN Investment Partners LACM Global Nomura Asset Management Landsbankinn Nordea Asset Management Lazard Asset Management Nordisk Buero+ LBBW Asset Management Investmentgesellschaft Nordkinn Asset Management Legal & General Investment Management Norges Bank Investment Management Lendlease Norwegian Government Pension Fund Lexington Partners Nottingham University Business School LGT Capital Partners Novethic Link Asset Management Nykredit Asset Management Liontrust NZ Superannuation Fund LocalTapiola Asset Management Odlum Brown Longview Partners OECD LSEG - Borsa Italiana oekom research LUCRF Super OFI Luxembourg Stock Exchange Öhman LVM Landwirtschaftlicher Versicherungsverein Münster Investment Group M&G Investments Ontario Teachers’ Pension Plan Maastricht University OP Financial Group Mackenzie Investments OPTrust Macquarie Infrastructure and Real Assets OSSIAM Maersk Ostinato Associates MAIF Ownership Capital Man Group Partners Group Mandatum Life Pegasus Capital Advisors Pension Fund Association Martin Currie Investment Management Pensionfund ABP MEAG MUNICH ERGO AssetManagement Pensions & Investments Media Super Pentalpha

17 PeopleNet Sparda-Bank Muenchen Permira Sparinvest SA Perpetual Private Investments PFA State Street Global Advisors PGB Pensioendiensten Statewide Super PGGM Statoil Phenix Capital Steyler Bank PIMCO Stiftung “Fonds zur Finanzierung der kerntechnischen Entsorgung” PKA Sumitomo Mitsui Trust Bank PREVI Sustainable Inclusive Solutions (SIS) Proterra Investment Partners Sustainalytics PSP Investments Sustinvest Public Investment Corporation Suva PwC SWEN Capital Partners PWP QIC Sycomore Asset Management Quantum International Co. Symbiotics QUICK Corp. T Rowe Price International Quinbrook Infrastructure Partners Tauw Group Raiffeisen Kapitalanlage-Gesellschaft The Barclays Bank UK Retirement Fund Rainforest Action Network The Church Pension Fund Finland RAIR The CO-Firm Rathbones The Crop Trust Reed Smith The Ethical Council of the Swedish National Pension Funds RepRisk The IIRC Resona Bank The National Observer responsAbility Investments The News Building Response Global Media The Norwegian Ministry of Finance Responsible Investment Association Australasia The State Pension Fund Finland / Valtion Eläkerahasto Responsible Investor The World Bank Reuters Institute, University of Oxford Thompson Rivers University Reward & Employee Benefits Association TIAA Investments Richmond Global TKP Investments Rob Lake Advisors Tobacco Free Portfolios Robeco TowerBrook Capital Partners Rockefeller & Co. Towers Watson Investment Services Ruffer TPG Capital Russell Investments TPT Retirement Solutions S&P Trucost Tradeka Corporation SAFE Investment Centre Treehouse Investments Sampension Troy Asset Management San Francisco Employee Retirement Service TruValue Labs Sarah Cleveland Consulting UBS Asset Management Sarona Asset Management UFCW International Union Pension Plan for Employees SASB UK Sustainable Investment and Finance Association Sasria SOC UN Social Impact Fund Schroders UNEP FI Scope Ratings Unigestion SCOR Union Investment UNITE HERE International SEB Investment Management United Auto Workers SEIU Master Trust United Church Funds SHARE Uniting Financial Services ShareAction University College of Southeast SITAWI University of Hamburg SKAGEN Funds University of Manchester Skandia Mutual Life Insurance Co. University of Oxford Sompo Japan Nipponkoa Asset Management Co. Univest (Unilever) South Pole Group US SIF: The Forum for Sustainable and Responsible Investment PRI IN PERSON 2017 | HIGHLIGHTS

USS Investment Management Valuecap ValueInvest Asset Management Vanguard Veritas Institutional Vigeo Eiris Vision Super Vontobel VPL Walter Scott & Partners Weberbank Wellington Management Wespath Investment Management Western Asset Management WHEB Asset Management Who’s Good Willis Towers Watson Wilshire Associates WWF Zoological Society of London

19 San Francisco 2018 12-14 September San Francisco Marriott Marquis

www.unpri.org/SanFran2018

PARTNERSHIP OPPORTUNITIES

www.unpri.org/partnerships/

RISKRISK COONTROLNTROL RESEARCHRESEARCH PPROROVIVIDERDER BROKERAGE FIRM FINANCIAL SUPPLSUPPLYY CHAINCHAIN SUPPORTING THE PRINCIPLES ASSURANCE BUSINESSBUSINESS COLLLABORALABORATITIONONWORKSHOP HEDGEHEDGE FUFUNDNDS SYSSYSTEMTEMICIC BABARRIERSRRIERS AGENT ENGENGAAGGEEMENTMENT DISCLDISCLOOSURESURE FAIR VALUE MATERIALITYTERIALITY MAINSTREAMMAINSTREAM UNIVERSAL OWNER FRAMEWFRAMEWORKORK ASSET MANAGERS LONG TERM INVESTING ALIGNMENT INTEGRATION ACTIVE OWNERSHIP LIABILITIES GENERALGENERALIL IINVESTMENTNVESTMENT ADVISVISOROR MANDATES MISSIONMISSION AUDITDIT AND ASSURANCSURANCE GROGGROOWWTHTH FIDUCIARY DUTY CONSULTING ACACTTIVEIVE OWWNERNER RESPONSIBLE INVESTMENT ASSESETT WEBINAR BUSINESS PARTNERSENCOURAGE MARKETING ESG ACADEMIC NETWOORKRK PRPROXOXY VOVOTINGTING FOUNDOUNDAATION SOCIAL CHANNEL RESEARCH PROJECT STAKEHOLDERS ENDOWMENT STRATEGIC ASSET ALLOCATION STOCK EXCHANGE ENVIRONMENTAL RETURN ON INVESTMENT GLOBAL PRINCIPLE PARTRIPP STEWARDSHIP GOVERNANCE MEDIA UNITED NATIONS WORKING TOGETHER EVENT CONFERENCE PROGRESS PPRTUITI SHORT TERMISM SUSTAINABLE ASSET ALLOCATION BUDGET INVESTOR DATA SET PROVIDERS INITIATIVE SECRETARIAT ROUTE TO MARKET DEVELOPMENT COLLABORATION REGULATIONS LABOUR RELATIONS BUSINESS PLAN ECONOMY SUSTAINABILITY INVESTMENT ADVISOR PUBLICATION CORPORATE GOVERNANCE INCOME CLIMATE CHANGE REPORTING PENSION FUNDS ACTIONS STRATEGIC TRENDS ACCOUNTABILITY COUNCIL REGIONAL NETWORK REPORTING AND ASSESSMENT CLEARING HOUSE TRANSPARENCY BOARD INVESTMENT MANAGEMENT SPECIALIST INVESTMENT ADVISOR IMPACT INVESTING STRANDED ASSETS PROMOTION IMPLEMENTATION SUPPORT ENGAGEMENT/VOTING SERVICES PROVIDER PRI IN PERSON 2017 | HIGHLIGHTS

THE PRI THANKS ALL PARTNERS AND SUPPORTERS OF PRI IN PERSON 2017:

Diaond Partner

old Partners

ilver Partners

rone Partners

Prodct Partners

RISKRISK COONTROLNTROL RESEARCHRESEARCH PPROROVIVIDERDER BROKERAGE FIRM FINANCIAL SUPPLSUPPLYY CHAINCHAIN Media Partners SUPPORTING THE PRINCIPLES ASSURANCE BUSINESSBUSINESS COLLLABORALABORATITIONONWORKSHOP HEDGEHEDGE FUFUNDNDS SYSSYSTEMTEMICIC BABARRIERSRRIERS AGENT ENGENGAAGGEEMENTMENT DISCLDISCLOOSURESURE FAIR VALUE MATERIALITYTERIALITY MAINSTREAMMAINSTREAM UNIVERSAL OWNER FRAMEWFRAMEWORKORK ASSET MANAGERS LONG TERM INVESTING ALIGNMENT INTEGRATION ACTIVE OWNERSHIP LIABILITIES GENERALGENERALIL IINVESTMENTNVESTMENT ADVISVISOROR MANDATES MISSIONMISSION AUDITDIT AND ASSURANCSURANCE GROGGROOWWTHTH FIDUCIARY DUTY CONSULTING ACACTTIVEIVE OWWNERNER RESPONSIBLE INVESTMENT ASSESETT WEBINAR BUSINESS PARTNERSENCOURAGE MARKETING ESG ACADEMIC NETWOORKRK PRPROXOXY VOVOTINGTING FOUNDOUNDAATION SOCIAL CHANNEL RESEARCH PROJECT STAKEHOLDERS ENDOWMENT STRATEGIC ASSET ALLOCATION STOCK EXCHANGE ENVIRONMENTAL RETURN ON INVESTMENT GLOBAL orters PRINCIPLE PARTRIPP STEWARDSHIP GOVERNANCE MEDIA UNITED NATIONS WORKING TOGETHER EVENT CONFERENCE PROGRESS PPRTUITI SHORT TERMISM DATA SET PROVIDERS SUSTAINABLE ASSET ALLOCATION BUDGET INVESTOR ® INITIATIVE SECRETARIAT ROUTE TO MARKET DEVELOPMENT COLLABORATION REGULATIONS LABOUR RELATIONS BUSINESS PLAN ECONOMY SUSTAINABILITY INVESTMENT ADVISOR PUBLICATION CORPORATE GOVERNANCE INCOME CLIMATE CHANGE REPORTING PENSION FUNDS ACTIONS STRATEGIC TRENDS ACCOUNTABILITY COUNCIL REGIONAL NETWORK REPORTING AND ASSESSMENT CLEARING HOUSE TRANSPARENCY BOARD INVESTMENT MANAGEMENT SPECIALIST INVESTMENT ADVISOR 21 IMPACT INVESTING STRANDED ASSETS PROMOTION IMPLEMENTATION SUPPORT ENGAGEMENT/VOTING SERVICES PROVIDER The Principles for Responsible Investment (PRI)

The PRI works with its international network of signatories to put the six Principles for Responsible Investment into practice. Its goals are to understand the investment implications of environmental, social and governance (ESG) issues and to support signatories in integrating these issues into 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 six Principles for Responsible Investment are a voluntary and aspirational set of investment principles that offer a menu of possible actions for incorporating ESG issues into investment practice. The Principles were developed by investors, for investors. In implementing them, signatories contribute to developing a more sustainable global financial system.

More information: www.unpri.org

The PRI is an investor initiative in partnership with UNEP Finance Initiative and the UN Global Compact.

United Nations Environment Programme Finance Initiative (UNEP FI)

UNEP FI is a unique partnership between the United Nations Environment Programme (UNEP) and the global financial sector. UNEP FI works closely with over 200 financial institutions that are signatories to the UNEP FI Statement on Sustainable Development, and a range of partner organisations, to develop and promote linkages between sustainability and financial performance. Through peer-to-peer networks, research and training, UNEP FI carries out its mission to identify, promote, and realise the adoption of best environmental and sustainability practice at all levels of financial institution operations.

More information: www.unepfi.org

UN Global Compact

The United Nations Global Compact is a call to companies everywhere to align their operations and strategies with ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption, and to take action in support of UN goals and issues embodied in the Sustainable Development Goals. The UN Global Compact is a leadership platform for the development, implementation and disclosure of responsible corporate practices. Launched in 2000, it is the largest corporate sustainability initiative in the world, with more than 9,500 companies and 3,000 non-business signatories based in over 160 countries, and more than 70 Local Networks.

More information: www.unglobalcompact.org