Santa Monica, CA (January 1, 2020) – Dalton Investments LLC (“Dalton”) has adhered to and been accepted as a signatory to the Principles for Responsible Investment (the “PRI”) as of December 11, 2019.
The PRI are a set of 6 voluntary investment principles for institutional investors based on the idea that environmental, social and governance (ESG) issues, such as climate change, human rights and corporate governance, can affect the performance of investment portfolios and should therefore be considered alongside traditional financial factors. Signatories have an obligation to report annually on the extent to which they implement the PRI. The PRI were launched in April 2006 by then United Nations Secretary General Kofi Annan, and are administered by the PRI Association, based in London.
Becoming a member of the PRI reflects Dalton’s ongoing commitment to responsible investment and its belief that investing in companies with superior ESG characteristics is consistent with its investment philosophy. In early 2019, Dalton made the decision to supplement its investment team’s ESG research with a dedicated ESG specialist, Craig Mercer, to provide independent analysis. Dalton’s CEO Belita Ong said, “We believe that actively engaging with company management in improving ESG standards will significantly benefit our clients in the long run”.
In connection with joining the PRI community, Dalton amended its Sustainable Investment Philosophy, which had been published on March 18, 2018, to specifically incorporate the PRI principles. Dalton’s Sustainable Investment Philosophy can be viewed here. “We are very excited about becoming an active member of the PRI,” said Craig Mercer. “For many years, Dalton has been a strong advocate of corporate governance reform; becoming a signatory of the PRI is a further endorsement of our long-term commitment to capital preservation and sustainable long-term growth.”