The UN Principles for Responsible Investment (PRI), the world’s leading proponent of responsible investment, recognizes WiredScore and SmartScore certifications as contributors to their Reporting Framework.
“We believe that an economically efficient, sustainable global financial system is a necessity for long-term value creation. Such a system will reward long-term, responsible investment and benefit the environment and society as a whole.”
What is the PRI?
Founded in 2005, the PRI looks to implement a sustainable financial system that rewards responsible investments, benefitting both the environment and society. They define responsible investment as “a strategy and practice to incorporate environmental, social and governance (ESG) factors in investment decisions and active ownership”. To date, over 5,400 asset owners and asset managers are signatories of the PRI, managing over $120 trillion in assets.
Where do WiredScore & SmartScore certifications come in?
Each year, the PRI signatories report on their responsible investment activities using the PRI’s Reporting Framework. This is a set of voluntary standards that helps signatories report on their progress in integrating ESG factors into their investments. There are a number of modules within the framework, including the PRI Real Estate module.
The PRI advises that it’s good practice to obtain a sustainable building certification for real estate assets. Within this module, both WiredScore and SmartScore certifications are accepted as ‘green building certifications’ as they appear on GRESB’s list of green building certifications. There are three PRI credits where WiredScore and SmartScore certifications can be applied:
- RE 3.1 Materiality analysis – 25 points available
- RE 10 Minimum building requirements – 58 points available
- RE 17 Monitoring – 100 points available