In recent years, AP2 has, together with other investors, put forward a number of shareholder proposals concerning climate change to several companies within the fossil fuel industry (BP, Shell, Statoil) and the mining sector (Glencore, Rio Tinto, Anglo American). In addition to its own shareholder proposals, the fund also uses its voting rights to support other investors’ proposals concerning climate change. In recent years, the fund has noted that many companies’ boards are committing to improving their climate-related reporting in terms of both emissions and evaluation of the company’s projects/activities pertaining to climate scenarios. AP2 is an active member of the PRI (Principles for Responsible Investment) and the IIGCC (Institutional Investors Group on Climate Change), both of which work a great deal with corporate engagement. A major international corporate engagement initiative, Climate Action 100+, was launched in December 2017. This is a five-year global initiative involving the 100 (+50) companies that have the highest carbon dioxide emissions. AP2 is responsible, together with one other investor, for one of these corporate engagement programmes. The goal of these programmes is for the companies to reduce their emissions, improve their climate-related disclosure (in accordance with the TCFD) and for the companies’ boards to have clear accountability and oversight of climate-related matters. AP2’s engagement with companies takes place at various levels, depending on the aim. Major initiatives are initiated with a letter to the chair of the board and CEO, but the process then continues with people who work directly with the pertinent issues. Using voting rights at annual general meetings (AGMs) is one way to communicate with a company. In 2017, the fund voted at 794 foreign AGMs (769 companies) in 29 countries. At these, 37 of a total of 424 shareholder proposals were related to climate change or renewable energy.