Introduction

The PRI’s new framework – PRI Pathways, previously known as Progression 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. These 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. An example might be:

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 recognised methodologies to conduct the analysis, where available.

Implementation guidelines will also be provided by asset class type, issue, and region. For example, for Listed Equity, 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[1]tracking strategies: conducting the analysis in relation to specific indices.
For active quant investors: using forward[1]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 be able to access additional resources aligned to each Pathway and practice. For example, for the practice of Forward-looking analysis, additional resources might include:

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

Reporting

Reporting under the Pathways system will start in 2026.

Mandatory Reporting: From 2026, signatories will complete mandatory reporting including around 40 questions focused on the six Principles for Responsible Investment. This 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 is voluntary and has 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 other content. The portal will serve as a central hub for managing accounts and engaging with PRI content.

Going forward

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

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

For more information on how to get started with the new PRI Pathways, and for support with reporting please get in touch.