The Principles for Responsible Investment (PRI) has released the draft of its 2026 reporting framework – offering signatories a first look at how responsible investment expectations will evolve over the next reporting cycle. While the question set is significantly streamlined, the intent behind reporting has not softened. For private market investors, this moment presents both relief and renewed responsibility.
Below, we break down what’s changed – and what it means for firms preparing for 2026.
Key Changes in the Draft Framework
- A simplified question set
The new frameworks contains ~35 total questions, though only a subset applies to Private Equity and other alternatives.
PE firms, for example, will complete ~30 core questions plus the Senior Leadership Statement, which remain unchanged. - Same expectations for foundational ESG topics
Despite fewer questions, the content still focuses on the core tenets of responsible investment, including:
– ESG policy and integration
– Governance and accountability for ESG
– Engagement with policymakers and industry
– Climate and human rights due diligence
– Stewardship and active ownership
– Transparency in reporting
The PRI continues to expect credible, documented application of these practices. - Greater asset class alignment
Most questions now apply across all signatories – regardless of asset class. Where relevant, questions request disclosure on how ESG practices apply across the firm’s private equity, private credit, real assets, and other strategies. - Scoring is still a major question mark
The updated scoring methodology has not yet been released.
Some questions now require free-response narrative answers – which could:
– Introduce greater subjectivity in evaluation
– Raise the bar for clarity and evidence
– Challenge firms that lack centralized ESG data and oversight
Implications for Private Markets
Private market investors now face a narrower, but deeper reporting lens.
Quality over quantity will define strong performance:
In short: it will be more obvious when ESG practices are underdeveloped.
Why Act Now?
Waiting for the final scoring release means compressing your prep time. Early movers will be positioned to:
- Identify potential scoring gaps
- Strengthen ESG governance and accountability
- Improve stewardship documentation
- Demonstrate strategic alignment to LPs
- Respond confidently to growing regulatory expectations
Reporting may be lighter, but LP scrutiny and market expectations continue to rise.
How to Prepare: Three No-Regret Actions
- Baseline where your ESG practices stand today
Review your firm’s last PRI responses (if applicable) and identify areas needing narrative depth. - Enhance evidence collection
Even if the question volume is lower, documentation remains essential for credibility. - Engage leadership early
The Senior Leadership Statement is unchanged – and still a public proof point of commitment.
Malk Can Help You Get Ready
Whether your firm is preparing for its first PRI reporting cycle or optimizing past submissions, Malk brings proven expertise in private market ESG management to help you:
- Interpret requirements and scoring once finalized
- Develop a clear narrative aligned to PRI themes
- Support implementation of underlying operational improvements
- Strengthen engagement and stewardship strategy
Stay ahead of the 2026 PRI reporting cycle.
Contact us for a PRI Readiness Review.