AQR Capital Management, Babson Capital Management and Cornerstone Capital Management joined 27 other institutional investors in becoming the latest signatories of the United Nations-supported Principles for Responsible Investment, according to a statement Wednesday from the initiative’s governing group.
Together they bring total signatories to 1,248 institutions worldwide, with combined assets under management of $34 trillion. The signatories are made up of 248 asset owners, 798 investment management firms and 182 consultants and other investment-related servicing firms.
Signatories, which pay an annual fee generally based on assets, agree to implement a voluntary set of six principles adopted in 2006 incorporating environmental, social and governance factors into investment decision-making and ownership practices. In addition, asset owners and investment management firms commit to complying with an annual reporting framework to bring transparency, accountability and performance assessment on implementing the principles.