The 2016 Board election is for one asset owner position and one service provider position.
SIGNATORY RIGHTS & THE PRI BOARD
Nominating candidates for the annual elections and taking the opportunity to vote are important signatory rights and responsibilities. The PRI encourages signatories to participate in our annual Board nomination and election process to maintain a vibrant and representative PRI Board.
The Board is collectively responsible for the long-term success of the PRI and in particular for: establishing the PRI’s mission, vision and values; setting the strategy, risk appetite and structure; delegating the implementation of the strategy to the PRI Association Executive (the Executive); monitoring the Executive’s performance against the strategy; exercising accountability to signatories and being responsible to relevant stakeholders.
The Board is composed of: one independent Chair (confirmed by a signatory vote) and ten Directors (seven elected by asset owner signatories, two by investment manager signatories and one by service provider signatories). The Chair and all elected Directors are the Statutory Members of the Company. There are two Permanent UN Advisors to the Board, representatives from the PRI’s founding UN partners: UN Global Compact and UNEP Finance Initiative.
Current Board Directors are all CEOs, CIOs or Board members of signatory organisations. Part of the role of the Board is to be ambassadors for the PRI and for responsible investment. The PRI considers it important to have high-level C-suite engagement and champions to help bring responsible investment into the mainstream. For information on the current Board directors, including directors at the end of their three year terms see below.
CURRENT BOARD DIRECTORS
|Chair||Directors elected by asset owners||Directors elected by non-asset owners|
|Martin Skancke||Marcel Barros||Geeta Aiyer|
|||Mark Chaloner||Sandra Carlisle |
|||Xander den Uyl|||
2016 ELECTION OPEN POSITIONS
The 2016 Board election is for one asset owner positions and one service provider position.
Asset owner signatories vote for asset owner candidates. Each asset owner signatory will have one vote. The candidate who receives the highest number of votes is elected.
Service provider signatories vote for service provider candidates. Each service provider signatory will have one vote. The candidate who receives the highest number of votes is elected.
SKILLS, EXPERIENCE AND DIVERSITY
The Board should have the appropriate balance of skills, diversity, experience, independence and knowledge of the organisation to enable it to discharge their respective duties and responsibilities effectively. The Board needs to be appropriately representative of the diversity of PRI signatories in order to generate effective debate and discussion around the key issues that the Board considers, and to deliver the broadly-founded leadership that the initiative deserves.
As part of its commitment to strengthen the rigour and accountability of the election process, the PRI will also be providing more guidance and information to candidates and signatories in advance of the vote.
The PRI is a global organisation, and aims for global representation on its Board, particularly within the asset owner positions. There is currently no representative from a signatory with experience headquartered in Asia and therefore the PRI Board is proactively encouraging potential candidates in the region.
The Board has undertaken a skills self-assessment exercise which found it is strong on: strategic thinking and leadership; and knowledge of the pension and investment industry (including responsible investment). As a result of the assessment, the PRI would welcome candidates who could strengthen the Board with expertise in governance and risk management (gained from Board experience) and expertise of working across multiple jurisdictions (gained from experience within global organisations).
Candidates in this year’s election will be asked to set out within their election materials:
- governance experience, such as previous/current Board experience;
- experience in investment markets outside of Europe / US, specifically Asia.
Candidates are also asked to elaborate on their demonstrated leadership within responsible investment, ESG expertise and other experience relevant to the long-term success of the PRI.
This information – as well as information on the nominating signatory, the candidate biography and statement – will enable the signatory electorate to more easily compare the skills, experience and diversity of the respective candidates.
To be eligible to stand for the election, candidates must be either:
- a relevant officer:
- the Chief Executive Officer of a Signatory;
- the Chief Investment Officer of a Signatory;
- in the case of a Signatory that does not have the offices of Chief Executive Officer or Chief Investment Officer, the most senior investment professional of that Signatory;
- a director serving on the main governing board (and not merely any subsidiary boards, subordinate boards or committees) of a Signatory;
- a trustee of a Signatory;
- an executive employee of a Signatory in a role where his or her immediate line manager is a relevant officer; or
- a former relevant officer.
Candidates must be nominated by their signatory organisation and seconded by another signatory within the same signatory category. An asset owner candidate for example needs to be nominated by their signatory organisation and seconded by another asset owner.
The signatory putting a candidate forward must have contributed (or must commit to contributing) the invoiced financial contribution in the current financial year, and must have participated in the PRI Reporting and Assessment process.
The PRI will offer to make a contribution towards the travel expenses of Directors that attend in person meetings. The contribution per meeting will be agreed by the Board at the start of every financial year.
2016 ELECTION TIMETABLE
|Election week||Date||Event |
|2||6 June||Formal publication of the election notice
|10||05 August||Final day for nominations|
|15||06 September||Announcement of the election candidates at the Signatory General Meeting|
|18||26 September||Launch of the election|
|24||11 November||Election closes|
|25||w/c 14 November||Board announcement of the election results|
Directors are nominated by a signatory organisation and elected by signatories, from a signatory category, but have a responsibility to fulfil their duties as an individual and in the best interests of the PRI Initiative as a whole.
Each Director elected in an annual election is elected for a term of three years. The Board has three planned in-person meetings per year, including one meeting that coincides with the annual PRI in Person conference, plus several conference calls. The expectation is that Directors will participate in every in-person meeting as well as serving on one or more Board committees.
For more information on the role of the Board, expectations of Directors and the application process:
- Email firstname.lastname@example.org to arrange a 1-1 call about the role and register your interest;
- Speak to the PRI Executive and / or Board Directors at one of the PRI’s forthcoming global workshop series events.
- Read the Articles of Association of PRI Association and the underlying Rules and Policies, on the PRI governance page, including the Election Rules.