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AP4

PRI reporting framework 2018

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You are in Direct - Listed Equity Active Ownership » Engagement

Engagement

Overview

LEA 01. Description of approach to engagement

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate whether your organisation has a formal engagement policy.

01.2. Attach or provide a URL to your engagement policy.

01.3. Indicate what your engagement policy covers:

          Follow international and Swedish Codes.
        

01.4. Provide a brief overview of your organization’s approach to engagement

As a long-term investment, sustainability is a hygienic factor. Our business model is based on sustainability being an express part of our management strategy. With our unique, long-term mandate, we have gradually moved a larger part of the investments from tactical operations (evaluations over a rolling three-year period) to the strategic level where the view is set on an even longer horizon. Express long-term thinking provides greater prospects of utilizing various business opportunities that the work with corporate governance and sustainability offer.

01.6. Additional information [optional]


LEA 02. Reasoning for interaction on ESG issues

02.1. Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual/Internal staff engagements
Collaborative engagements
Service provider engagements

02.2. Additional information. [Optional]

AP4 are using both direct interaction by ourself, by the Ethical Council and by consultants.


Process

Process for engagements run internally

LEA 03. Process for identifying and prioritising engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagement activities carried out by internal staff.

03.2. Describe the criteria used to identify and prioritise engagement activities carried out by internal staff.

03.3. Additional information. [Optional]

See AP4's website, http://www.ap4.se/en/ and the Ethical Council report, http://etikradet.se/?lang=en . The funds voting history at Swedish AGM's is available at http://www.ap4.se/en/esg/corporare-governance---a-focus-area/sweden/ and for the proxy voting at non-Swedish AGM's at http://www.ap4.se/en/esg/corporare-governance---a-focus-area/corporate-governance/.


LEA 04. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

04.1. Indicate if you define specific objectives for your engagement activities.

04.2. Indicate if you monitor the actions that companies take during and following your engagements activities carried out by internal staff.

04.3. Indicate if you do any of the following to monitor and evaluate the progress of your engagement activities carried out by internal staff.

04.4. Additional information. [Optional]

Multiple types of contacts with companies, their websites and reports, and via direkt meetings with companies to validate and confirm progress. For more information please see the Ethical Council report, http://etikradet.se/?lang=en and AP4's website, http://www.ap4.se/en/.


Process for engagements conducted via collaborations

LEA 05. Process for identifying and prioritising collaborative engagement

New selection options have been added to this indicator. Please review your prefilled responses carefully.

05.1. Indicate whether your organisation has a formal process for identifying and prioritising collaborative engagements

05.2. Describe the criteria used to identify and prioritise collaborative engagements.

05.3. Additional information [Optional]


LEA 06. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

06.1. Indicate if you define specific objectives for your engagement activities carried out collaboratively.

06.2. Indicate if you monitor the actions companies take during and following your collaborative engagements.

06.3. Indicate if you do any of the following to monitor and evaluate the progress of your collaborative engagement activities.

06.4. Additional information. [Optional]

AP4 are informed and updated via contacts with companies and via results, special reports and benschmarking reports.


Process for engagements conducted with/on your behalf by service providers

LEA 07. Role in engagement process

New selection options have been added to this indicator. Please review your prefilled responses carefully.

07.1. Indicate if you play a role in the engagement process that your service provider conducts on your behalf.

07.2. Indicate the role(s) you play in engagements that your service provider conducts on your behalf.

07.3. Additional information. [Optional]

AP4, either by ourself or together with The Council of Ethics set the goals and working process with our service providers ether case by case or as multi company engagement or as a part of an initiative. 


LEA 08. Monitor / discuss service provider information

08.1. Do you monitor and review the outcomes of the engagement activities undertaken by your service providers on your behalf?

Please select all that apply

08.2. Additional information. [Optional]


General processes for all three groups of engagers

LEA 09. Share insights from engagements with internal/external managers

09.1. Indicate if insights gained from your engagements are shared with your internal or external investment managers.

Type of engagement

Insights shared

Individual/Internal staff engagements

Collaborative engagements

Service provider engagements

09.2. Additional information. [Optional]

The information is shared via schedueled meetings and thru updates between the schedueled meetings.


LEA 10. Tracking number of engagements

10.1. Indicate if you track the number of your engagement activities.

Type of engagement
Tracking engagements

Individual / Internal staff engagements

Collaborative engagements

Service provider engagements

10.2. Additional information. [OPTIONAL]

AP4 receives information about the progress in the engagements on a weekly updates and bi-annual meetings and reports.


Outputs and outcomes

LEA 11. Number of companies engaged with, intensity of engagement and effort

11.1. Indicate the amount of your listed equities portfolio with which your organisation engaged during the reporting year.

Number of companies engaged

(avoid double counting, see explanatory notes)

Proportion (to the nearest 5%)
Specify the basis on which this percentage is calculated

Individual / Internal staff engagements

135 Number of companies engaged
10 Proportion (to the nearest 5%)

Specify the basis on which this percentage is calculated

Collaborative engagements

152
10 Proportion (to the nearest 5%)

Specify the basis on which this percentage is calculated

Service provider engagements

25
5 Proportion (to the nearest 5%)

Specify the basis on which this percentage is calculated

11.2. Indicate the proportion of engagements that involved multiple, substantive and detailed discussions or interactions with a company during the reporting year relating to ESG issue.

Type of engagement

% Comprehensive engagements

 

 

Individual / Internal staff engagements

 

 

Collaborative engagements

 

 

Service provider engagements

11.3. Indicate the percentage of your collaborative engagements for which you were a leading organisation during the reporting year.

Type of engagement

% Leading role

  Collaborative engagements

11.4. Indicate the percentage of your service provider engagements that you had some involvement in during the reporting year.

Type of engagement

% of engagements with some involvement
  Service provider engagements

11.5. Additional information. [Optional]

Besides this form of engagement was also AP4 involved in 24 nominations committees that are Governance engagement.

.


LEA 12. Engagement methods

12.1. Indicate which of the following your engagement involved.

12.2. Additional information. [Optional]

Contact with companies differ from case to case. Contact with companies, and respond from companies could be via mail if the issue is less sever and easy to solve. There could also be visits to the headquarters or at different sites if the case is more complicated or more severe, but also for educational reasons, for helping the portfolio managers and related staff for future situations.


LEA 13. Companies changing practices / behaviour following engagement

13.1. Indicate whether you track the number of cases during the reporting year in which a company changed its practices, or made a formal commitment to do so, following your organisation’s and/or your service provider's engagement activities.

13.3. Additional information [Optional].

We are aware that companies commitment from time to time change their practices etc after AP4's individual and collaborative engagement, but we don't have a figure for individual/internal staff and collaborative engagements.


LEA 14. Examples of ESG engagements

14.1. Provide examples of the engagements that your organisation or your service provider carried out during the reporting year.

ESG factors
ESG issue
          Support the implementation of Section 1502 regarding conflict minerals.
        
Conducted by
Objectives

Called upon the SEC and Congress to continue widespread and comprehensive implementation of Section 1502.

Scope and Process

The 1502 rule has been the driving force for the momentum and action by corporations to research their supply chains, be transparent about their actions, and be responsible to the communities that deserve to prosper from the electronics craze sweeping across the world.

Outcomes

U.S. companies are now being more effective in addressing material risk in their supply chains while contributing to responsible economic development in the DRC.

ESG factors
ESG issue
          Initiative lead by PGGM and APG regarding how to define the SDG's to be able to use them practically.
        
Conducted by
Objectives

Se above

Scope and Process
Outcomes
ESG factors
ESG issue
          Climat Action 100+.
        
Conducted by
Objectives

Investor initiative to engage with world’s largest corporate GHG emitters to curb CO2 emissions, strengthen the climate disclosures and improve climate governance.

Scope and Process

Se above

Outcomes

The work is going on and is one of the biggest initiative regarding the climate.

14.2. Additional information. [Optional]

Besides of different special engagement, AP4 is active in a number of Swedish Nomination Committées, engaging with Swedish companies in a number of issues where the outcome is hard to messure and/or takes some years before we could messure the outcome. On the Global market is AP4 active in the Council of Ethics, and of course thru initiatives in connection to CO2. There are also a number of different initiatives that AP4 support and and have been engaged regarding corporate governace and the develpment of corporate governace.


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