Fiona Reynolds, Executive Director for PRI interview with David Nelson at Sustainable Stock Exchange Initiative (NYSE)

HIGHLIGHTS

• PRI has 1,300 signatories with assets over $59 trillion
• Stock exchanges have a critical role to play in the responsible investing world
• PRI Mission: to create a sustainable financial system

FULL COVERAGE

• Watch complete coverage of the UNCTAD Sustainable Stock Exchange Initiative

INTERVIEW TRANSCRIPTS: Fiona Reynolds, Executive Director for PRI and David Nelson

David Nelson – Show Host, Traders Network Show: 00:00

Welcome back. I’m David Nelson for the Traders Network Show broadcasting worldwide from the New York Stock Exchange for iHeartRadio and Equities.com. We’re here for an event being hosted by the United Nations Sustainable Stock Exchanges Initiative. My next guest is Fiona Reynolds, who’s the Executive Director for Principles for Responsible Investment. Fiona, welcome. Thanks so much for being with us. Fiona, I went on the web last night. I got to be honest with you. I went out and I, and always looking at the PRI trying to learn more about the organization and I found that there were 1300 signatories of the PRI with assets over 59 trillion with a T. That’s, that’s a powerful voice. How did you manage to make such an accomplishment? What do you plan to do with that voice?

Fiona Reynolds – Executive Director, PRI: 00:50

Well, it is a staggering amount of money, $59 trillion. I would say that when we’re talking about responsible investment, that when people sign onto the principles, the six principles of responsible investment, they agree to put them in place and adopt the principles, which is all about how do you integrate environmental, social and governance factors into your investment process. That doesn’t mean that at this stage, every one of those $59 trillion is invested in a sustainable way. People have to get started. It’s a journey. But I do think responsible investment is an inevitable agenda that is just continuing to gather pace and momentum and that there’s really no turning back. Now.

David Nelson – Show Host, Traders Network Show: 01:37

When did you first start to, you know, work with SSE and how did that process evolve?

Fiona Reynolds – Executive Director, PRI: 01:43

So the sustainable stock exchange initiative is, we’re one of the partners too. And we started working with them about five years ago. And it was really from the fact that you, we as investors need information from companies to know what they’re doing about incorporating environmental issues, social issues and governance issues. And obviously exchanges have a big role to play in making sure that companies can provide that information to investors. And the exchanges play a big role in giving guidance.

David Nelson – Show Host, Traders Network Show: 02:14

It’s a huge marketing job, I would think, you know, for your organization to get this message out and really to market it to really all the, you know, the members you’d like to bring in and, and have them come on board. Is it a laborious process? How do you manage it and how do you target individual companies to come on board?

Fiona Reynolds – Executive Director, PRI: 02:32

Sure. Well, our mission is to create a sustainable financial system. So that means we have to work with all the different actors that are involved. If you just look at it from one point of view, you’re not going to get there. So we need the investors, we need the companies, we need the exchanges, we need all the financial organizations that sit with under it. It has to be all of them. And that’s why the sustainable development goals are really exciting because they need all electors as well and they are really aligned with the work that we’re doing on the investor side.

David Nelson – Show Host, Traders Network Show: 03:03

I want to ask you the same question. I’ve asked all of our guests today, how does the sustainable stock exchanges initiative and their activities over the next couple of years, how will you integrate that with your organization and what you’ll do over the next year or two?

Fiona Reynolds – Executive Director, PRI: 03:16

So, well, it’s very integrated into our work. As I said, it’s already integrated. As I said, we need exchanges to show leadership, to help companies, to be able to be transparent about what they’re doing and how they put environmental, social and governance factors into their thinking. And we need to get more exchanges involved at this stage. We’ve got a number of exchanges. We’ve got a lot from the developing world. We’ve got some from the developers.

David Nelson – Show Host, Traders Network Show: 03:44

Do we have a hard number on that, on the number of exchanges right now on all of them? 

Fiona Reynolds – Executive Director, PRI: 03:50

Yeah, it’d be nice if all exchanges around the world worked on the basis that we had sustainable companies who was sitting on them and that they were overseeing sustainable companies, they’re going to be here for the long term.

David Nelson – Show Host, Traders Network Show: 04:05

That’s a big goal. Any parting words to the UN and the SSC before you leave today?

Fiona Reynolds – Executive Director, PRI: 04:10

Well, it’s a great initiative. I’m really glad. We’re really proud to be involved in it and I just think it’s going to go from strength to strength.

David Nelson – Show Host, Traders Network Show: 04:20

Fiona well said. Thank you for being with us. Thank you. That was Fiona Reynolds, who is the Executive Director for Principles for Responsible Investment. By the way, a quick thank you goes out to 1-800-PublicRelations for their PR and media support. Thanks for joining. I’m David Nelson at the New York stock exchange.