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APG Asset Management

PRI reporting framework 2017

You are in Strategy and Governance » Governance and human resources

Governance and human resources

SG 07. RI roles and responsibilities

07.1.

Roles present in your organisation

          Legal, Risk & Client Management Heads
        
          Responsible Investment Committee
        

Other description (1)

07.2. For the roles for which you have RI oversight/accountability or implementation responsibilities, indicate how you execute these responsibilities.

RI is fully embedded in APG's Governance structure. In 2016 the CIO of APG Asset Management chaired the Responsible Investment Committee (RIC), which also includes the MD  of the Global Responsible Investment & Governance (GRIG) team, the CEO, and two other board members responsible for Clients and Risk respectively, as well as the MD Legal, Tax and Regulatory Affairs. The RIC oversees the implementation of the RI policy and meets on a regular basis. It approves for examples all relevant RI guidelines and implementation policies. Certain matters will be escalated to the full APG AM Board.

Furthermore, the MD of GRIG team reports directly to the CIO. In line with the Strategic Investment Plan (STIP), all so-called building blocks (investments in all different asset classes) have a plan in place on how to integrate ESG since the end of 2010. This reflects the remit of our Responsible Investment Policy which extends to all asset classes.

ESG has been formally integrated into the investment proposal approval process. The Committee on Investment Proposals (CIP) has full delegated authority from the Board of Directors of APG Asset Management to make required decisions to assure that all funds are solidly invested, with due observance of liquidity, return, risk diversification requirements, costs, potential reputational risks, and meet the prudent person principles, whilst ensuring that the quality and transparency of the investment process is in place.

All new alternative investments and some listed investments require a mandatory ESG sign-off. Thereby the GRIG team, which consists of thirteen people, can engage prior to making certain investments and affect change from the outset by, for example, asking companies or external managers to commit to responsible investment practices and join sector initiatives. RI policy and reporting requirements are enshrined in the contracts with our external managers and managers of direct investments.

07.3. Indicate the number of dedicated responsible investment staff your organisation has.

13 Number

07.4. Additional information. [Optional]

The GRIG team consists of thirteen people with dedicated responsibilities and diverse backgrounds. The GRIG team's responsibilities and expertise extend globally across all asset classes and the team members are located across multiple offices.


SG 08. RI in performance management, reward and/or personal development

08.1. Indicate if your organisation’s performance management, reward and/or personal development processes have a responsible investment element.

Board members/Board of trustees

08.2. Describe any activities undertaken during the reporting year to develop and maintain Board members’ skills and knowledge in relation to responsible investment.

The GRIG team gives frequent presentations to, has an ongoing exchange of information with, and provides updates on responsible investment to Board members.

Board members also participated in a number of peer exchange meetings with other large investors to share knowledge on ESG matters.

Chief Executive Officer (CEO), Chief Investment Officer (CIO),  Investment Committee

Other C-level staff or head of department

          Legal, Risk & Client Management Heads
        

Portfolio managers

Investment analysts

Dedicated responsible investment staff

Other role (1) [from SG 07]
          Responsible Investment Committee
        

08.3. Provide any additional information on your organisation’s performance management, reward and/or personal development processes in relation to responsible investment.

Responsible Investment is part of our mission, vision and investment principles. It is part of APG's culture and embedded withing human capital processes, including performance management and reward policies.

"10. Good governance and responsible investment are key

The risk-return profile can be improved by factoring in non-financial elements in the investment process. To APG Asset Management, Responsible Investment is a way to improve the investment portfolio’s risk-return profile while simultaneously contributing to sustainable development. In order to accomplish this, APG Asset Management focuses on companies’ financial performance, as well as the way in which companies deal with the theme of sustainability and how company Executives deal with their shareholders."

Our mission is:

"We are investors of pension money. Our clients and their participants are at the forefront of our thoughts and actions. We use all of our experience, expertise and innovative power to invest the pension premiums in a sound, responsible and cost effective way.

We contribute to a high quality and affordable pension for the participants of our clients, by realizing a stable, long term return on investment, while taking measured and controlled risks.

To help achieve a sustainable world is an inherent part of our investment process.”


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