The PRI’s (Principles for Responsible Investment) new framework – PRI Pathways – aims to streamline reporting and provide signatories with a more tailored, flexible way of reporting their responsible investment practices.

Within each Pathway, there are pillars, and within the pillars, are practices. Guidelines are provided to support implementation.

Pathways

Signatories choose a Pathway based on their approach to responsible investment risk-adjusted financial returns.

Pillars

There are nine Pillars across the pathways, reflecting areas of responsible investment practice.

Practices

There are 120 practices across the Pathways. There are specific actions taken by signatories at both the portfolio and firm level. Practices are assigned to a level to enable signatories to track progress over time. Examples include:

Forward-looking analysis

The investor conducts scenario analysis, or other form(s) of forward-looking analysis in relation to sustainability-related risks and opportunities that are likely to be financially material (including system-level sustainability-related risks) and over timeframes that are aligned with clients’ or beneficiaries’ own investment time horizons.

Guidelines

PRI are providing implementation guidance materials aligned to pillars and practices. These will define the components of effective practice and include specific guidance. For example, for the practice of Scenario Analysis, guidance might include the following:

• Considering a range of plausible future scenarios, as opposed to a single scenario.
• Running regular updates of the analysis, incorporating the most up-to-date information available.
• Communicating transparently about the methodologies/assumptions used in the analysis.
• Using recognized methodologies to conduct the analysis, where available.

Implementation guidelines may also be provided by asset class type, issue and region. For example, for Listed Equity (within the forward-looking analysis practice explained above), guidelines might include the following:

• Factoring in the impact of company transition strategies within forecasts.
• Analysing the trajectory of a company’s management of sustainability-related risks (including system-level) and opportunities over time to inform future forecasts.
• For investors invested in, or offering, index tracking strategies: conducting the analysis in relation to specific indices.
• For active quant investors: using forward-looking objectives or constraints when designing factor strategies.

PRI is planning to produce further guidance for specific sustainability issues such as climate, human rights, and nature.

Additional resources

Signatories will also be able to access additional resources aligned to each Pathway and practice. For example, for the practice of forward-looking analysis, these might include:

• Technical guidance for example ESG integration in listed equity
• Tools for example IEA Net Zero Emissions by 2050 scenario
• Case Studies: for example WWF Water Risk Filter.

Reporting

Reporting under the Pathways system will start in 2026. Reporting under the current system is voluntary in 2025.

Mandatory Reporting: Starting in 2026, signatories will complete a mandatory reporting process consisting of around 40 questions focused on the six Principles for Responsible Investment. This foundational reporting will be assessed and benchmarked.

Voluntary Pathway Insights: Signatories can opt to provide additional information through Pathway Insights, which offers personalized recommendations and advanced benchmarking. This voluntary reporting is flexible, with no fixed deadlines, allowing signatories to choose what’s relevant to them. 

MyPRI Portal: From November 2025, signatories will use the MyPRI portal to access reporting tools, resources, and personalized content. This portal will serve as a central hub for managing accounts and engaging with PRI content.

Going forward

The PRI has now sketched out most of the structure of the Pathways system. We are however still waiting to know more about:

• Reporting questions: The exact details of the 40 questions.
• Pathway Insights: Including the specific areas of responsible investment practice they will cover.
• MyPRI portal: This is expected to launch in November 2025, but we’re still waiting for specific details on its features and functionalities, including how it will evolve to support signatories.
• Benchmarking criteria: Including the criteria and methodology for benchmarking signatories’ reports and Pathway Insights against peers.