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AP2

PRI reporting framework 2018

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You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » Implementation processes

Implementation processes

FI 01. Incorporation strategies applied

01.1. Indicate 1) Which ESG incorporation strategy and/or combination of strategies you apply to your actively managed fixed income investments; and 2) The proportion (+/- 5%) of your total actively managed fixed income investments each strategy applies to.

SSA
0 Screening alone
0 Thematic alone
100 Integration alone
0 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
100%
Corporate (non-financial)
0 Screening alone
0 Thematic alone
100 Integration alone
0 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
100%

01.2. Describe your reasons for choosing a particular ESG incorporation strategy and how combinations of strategies are used.

AP2 has integrate ESG issues into fixed income investments (SSA) through investing in Green and Social Bonds. ESG factors are integrated into the investment process for emerging markets fixed income securities. Corporate bonds are exluded if the corporation is excluded from AP2's equity investment universe due to breached of international conventions. AP2 divest from corporate bonds emitted by a company that AP2 has assessed as having high financial climate risks.

01.3. Additional information [Optional].


FI 02. ESG issues and issuer research

02.1. Indicate which ESG factors you systematically research as part of your analysis on issuers.

Select all that apply
SSA
Corporate (non-financial)
Environmental data
Social data
Governance data

02.2. Indicate what format your ESG information comes in and where you typically source it

Indicate who provides this information  

Indicate who provides this information  

02.3. Provide a brief description of the ESG information used, highlighting any differences in sources of information across your ESG incorporation strategies.

In the selection of green and social bonds an assessmeent is made by in-house investment professional. In the analysis for emerging market fixed income securities, social and governance data are from a research provider. Exclusions of corporate bonds due to breaches of international conventions are based on analysis from both in-house ESG team and ESG research provider. Divestment of corporate bonds due to financial climate risks are based on analysis from various sources including in-house ESG team and ESG research provider.

02.4. Additional information. [Optional]


FI 03. Processes to ensure analysis is robust

03.1. Indicate how you ensure that your ESG research process is robust:

specify description

          Econometric back-testing
        

03.2. Describe how your ESG information or analysis is shared among your investment team.

03.3. Additional information. [Optional]


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