“The PRI warmly welcomes these proposals,” said Fiona Reynolds, CEO of the PRI. “The announcement signals opportunities for investment managers to develop new products for green assets as the world looks to transition from a high carbon to a low-carbon economy. The investor duties and disclosures proposal aligns with the PRI’s recommendations on fiduciary duty over many years and with the practices of PRI signatories. The taxonomy and low-carbon benchmark proposals will add essential tools to our market infrastructure in support of a sustainable financial system and capital flows to sustainable growth. The proposal on advice and disclosure to clients has the potential to put sustainability considerations at the heart dialogue with the clients and beneficiaries we all serve.”