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PRI reporting framework 2018

Export Public Responses

You are in Strategy and Governance » Investment policy


SG 01. RI policy and coverage


01.1. 責任投資アプローチをカバーする投資ポリシーを策定しているかどうかを明示してください。

01.2. ポリシーの構成要素/種類と対象範囲を示してください。


01.3. 投資ポリシーが以下のどの項目をカバーしているか明示して下さい:

01.3a CC. 低炭素経済への移行によって貴社の製品や投資戦略がどのように影響を受けるかを説明してください。

01.3b CC. 気候関連のリスクと機会が投資戦略や製品にどのように反映されているかを説明してください。

01.4. 組織の投資原則および全体の投資戦略、ならびに、ESG 要因および実体経済の影響をどのように考慮に入れているのかについて説明して下さい。

AP2's strategy is based on a step-by-step approach to value generation: choice of strategic asset allocation, selection of index and active management. This approach is based on a set of principles, or Investment Beliefs. These describe the Fund's view of how capital markets function and the opportunities and potential they present for generating a return on investment. One of the beliefs states that value can be both protected and created by being a responsible asset owner and asset manager.

AP2's vision of providing 'world-class asset management' can only be achieved if sustainability is integrated into the management. This is because sustainability issues are important to social development and future economic development and thus also to the fund's capital returns.

AP2's climate ambition is to develop our portfolio in line with the two-degree target. This is achieved by integrating climate analysis into the investment process and by, based on the fund's mission, contributing to the transition into a two-degree society.

01.5. 責任投資アプローチをカバーする組織の投資ポリシーの重要な構成要素、バリエーション、例外事項を簡潔に説明してください。

AP2's governance policy includes ten investor principles. These principles comprise structural matters, corporate governance, the environment - and ethics. The policy also defines AP2's core values and details the guidelines and initiatives to which AP2 is a signatory, or which it employs in pursuing its sustainability aims.This governance policy clarifies what AP2 expects of its portfolio companies, as well as what these same companies may expect of AP2 as an investor.

SG 02. Publicly available RI policy or guidance documents


02.1. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。






02.2. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。








02.3. 組織の投資原則および全体の投資戦略が公表されているかどうかについて明示して下さい。

02.4. 補足情報 [任意]

SG 03. Conflicts of interest

03.1. 組織として、投資プロセスにおける潜在的な利益相反を管理するポリシーを策定しているかどうかについて明示して下さい。

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

The handling of conflicts of interest in connection with corporate governance by the asset manager is a key topic. As an independent state-owned institutional investor, AP2 is not subject to the same potential internal conflicts of interest as other players. Should such arise, however, they are addressed in three stages. Once a conflict of interest has been identified, the Fund’s CEO determines the action to be taken in the specific case. In conflicts of interest of special significance, or in cases where the Fund’s CEO is personally closely involved, the decision is delegated to the Chair. Conflicts of interest are reported to the board and, if of particular significance, are published on the Fund’s website.

03.3. Additional information. [Optional]

SG 04. Identifying incidents occurring within portfolios

04.1. 組織では、ポートフォリオ対象企業において発生するインシデントの特定と管理を行うプロセスを設定しているかどうか明示して下さい。

04.2. インシデントを管理するプロセスを説明して下さい

          All companies included in the Second AP Fund’s portfolio of public equities are screened twice yearly, to identify those that contravene international conventions and guidelines. This analysis is conducted by an external supplier and provides the basis for dialogues conducted by the AP Funds Ethical Council. For more info see: 

Since a few years back AP2 external manager are required to report of if any material incident.