PRI Principles: Scorecard & Actions
Since 2016, UTAM has been a signatory to the Principles for Responsible Investment (PRI), an investor initiative and leading proponent of responsible investing.
The PRI publishes scorecards for its signatories to assess progress in implementing responsible investing practices over time, across asset classes and in comparison to peers at national and global levels. The PRI also publishes detailed assessment and transparency reports, available in the Reports section of our website.
Our PRI Scorecard
In 2025, PRI allowed partial reporting for 2024 activities, which we opted for; accordingly, we did not receive PRI assessment scores. In 2026, we will once again provide full reporting to PRI.
Our most recent PRI assessment and transparency reports cover activities in the 2023 calendar year. The PRI combines numerical scoring (one to five stars) and absolute grading (a single number grade out of 100) for each module.
The table below shows our 2023 scores on each of the seven modules applicable to our approach of allocating capital to managers and the Endowment’s asset class exposure.
We improved our rating to five stars in four modules, maintained our past rating of four stars in the other three modules, and improved our average absolute score to 88 (within a range of 78 to 90 to achieve four out of five stars).
| AUM: US$1 billion to US$10 billion | AUM: All | ||
|---|---|---|---|
| Module | UTAM | Median | Median |
| Policy Governance & Strategy1 | ★★★★ (84) | ★★★ (63) | ★★★★ (68) |
| Listed Equities | ★★★★ (89) | ★★★ (64) | ★★★★ (69) |
| Fixed Income | ★★★★★ (92) | ★★★★ (67) | ★★★★ (67) |
| Private Equity | ★★★★★ (92) | ★★★★ (79) | ★★★★ (73) |
| Real Estate | ★★★★★ (92) | ★★★★ (77) | ★★★★ (71) |
| Hedge Funds | ★★★★★ (92) | ★★★ (65) | ★★★ (65) |
| Confidence-Building Measures | ★★★★ (80) | ★★★★ (80) | ★★★★ (80) |
PRI Principles and UTAM Actions
UTAM has undertaken a series of actions to align our policies, processes and practices with the PRI principles.
01
PRI Principle
We will incorporate ESG issues into investment analysis and decision-making processes.
UTAM Actions
- Assess ESG-related risks across all portfolios.
- Integrate consideration of ESG factors into our external manager selection and monitoring policies and processes, and into other relevant policies and processes.
- Support the development of ESG-related tools, metrics, and analyses.
- Encourage academic and other research on ESG integration.
- Provide internal training and encourage the pursuit of external training on ESG matters for all staff involved in investment decision-making, including our investment professionals, risk management professionals, as well as staff engaged in operational and legal due diligence.
- Endorse the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
- Establish targets to decrease the carbon footprint of the Endowment investment portfolio.
- Establish a target to decrease the carbon footprint of the Endowment portfolio.
02
PRI Principle
We will be active owners and incorporate ESG issues into our ownership policies and practices.
UTAM Actions
- Adopt a proxy voting policy that takes into account ESG considerations and apply this, where possible, to all public equity segregated account mandates and to public equity funds in which our client portfolios are the only investors.
- Encourage our investment managers to adopt proxy voting policies that take into account ESG considerations.
- Promote and seek the ability to leverage pass-through voting in public equity funds in order to apply our chosen proxy voting policy.
- Implement a comprehensive engagement program that includes direct engagements, collaborative engagements, and engagements conducted by a service provider.
- Encourage our investment managers to engage with companies held in their portfolios on ESG matters.
- Engage with governments, regulators, and other policymakers on ESG matters, which we refer to as advocacy.
- Support policymaker initiatives that contribute to improved ESG practices, including reporting and disclosures.
01
PRI Principle
We will incorporate ESG issues into investment analysis and decision-making processes.
UTAM Actions
- Assess ESG-related risks across all portfolios.
- Integrate consideration of ESG factors into our external manager selection and monitoring policies and processes, and into other relevant policies and processes.
- Support the development of ESG-related tools, metrics, and analyses.
- Encourage academic and other research on ESG integration.
- Provide internal training and encourage the pursuit of external training on ESG matters for all staff involved in investment decision-making, including our investment professionals, risk management professionals, as well as staff engaged in operational and legal due diligence.
- Endorse the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
- Establish targets to decrease the carbon footprint of the Endowment investment portfolio.
- Establish a target to decrease the carbon footprint of the Endowment portfolio.
02
PRI Principle
We will be active owners and incorporate ESG issues into our ownership policies and practices.
UTAM Actions
- Adopt a proxy voting policy that takes into account ESG considerations and apply this, where possible, to all public equity segregated account mandates and to public equity funds in which our client portfolios are the only investors.
- Encourage our investment managers to adopt proxy voting policies that take into account ESG considerations.
- Promote and seek the ability to leverage pass-through voting in public equity funds in order to apply our chosen proxy voting policy.
- Implement a comprehensive engagement program that includes direct engagements, collaborative engagements, and engagements conducted by a service provider.
- Encourage our investment managers to engage with companies held in their portfolios on ESG matters.
- Engage with governments, regulators, and other policymakers on ESG matters, which we refer to as advocacy.
- Support policymaker initiatives that contribute to improved ESG practices, including reporting and disclosures.
03
PRI Principle
We will seek appropriate disclosure on ESG issues by the entities in which we invest.
UTAM Actions
- Discuss ESG risks in investment manager portfolios and in relation to particular securities held.
- Ask investment managers to report on ESG-related engagements with companies held in their portfolios.
- Ask investment managers to report on ESG incidents with companies held in their portfolios.
- Support initiatives promoting ESG disclosure by companies.
- Support the CDP’s disclosure campaigns for climate, forests and water.
04
PRI Principle
We will promote acceptance and implementation of the Principles within the investment industry.
UTAM Actions
- Encourage investment managers to become PRI signatories.
- Communicate our ESG expectations to investment managers.
- Support the development of tools for benchmarking ESG integration.
- Support legal, regulatory, and policy developments that enable implementation of the Principles.
- Assume leadership positions in leading responsible investment organizations.
- Speak at conferences, participate in webinars, and publish or contribute to articles supporting the PRI.
05
PRI Principle
We will work together to enhance our effectiveness in implementing the Principles.
UTAM Actions
- Support and participate in networks and information platforms to share tools and pool resources.
- Address relevant emerging issues collectively with other asset owners and investment managers.
- Identify and support appropriate coalitions whose beliefs are aligned with the Principles.
06
PRI Principle
We will each report on our activities and progress towards implementing the Principles.
UTAM Actions
- Disclose how ESG issues are integrated within our investment process.
- Disclose active ownership activities (e.g., voting, engagement, and advocacy with policymakers, refer to Principle 2).
- Communicate with stakeholders on ESG issues and the Principles.
- Report on progress and achievements relating to the Principles.
- Publish our PRI transparency and assessment reports.
- Publish information on our responsible investing framework and activities in our annual report and on our website.
- Provide reporting consistent with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).