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APG Asset Management

PRI reporting framework 2018

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - INF 03]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]
Indirect – Manager Selection, Appointment and Monitoring
Listed Equity and Fixed Income Strategies [SAM 01] Selection [SAM 02 - 03] Appointment [SAM 04] Monitoring [SAM 05 - 07] Outputs and outcomes [SAM 08 - 09]
Direct - Listed Equity Incorporation
ESG incorporation in actively managed listed equities [LEI 01 - 10] Implementation processes [LEI 01 - 10] (A) Implementation: Screening [LEI 04 - 06] (C) Implementation: Integration of ESG issues [LEI 08 - 10] ESG incorporation in passively managed listed equities [LEI 11] Outputs and outcomes [LEI 12 - 14]
Direct - Listed Equity Active Ownership
Engagement [LEA 01 - 14] Overview [LEA 01 - 02] Process [LEA 03 - 10] Process for engagements run internally [LEA 03 - 04] Process for engagements conducted via collaborations [LEA 05 - 06] General processes for all three groups of engagers [LEA 09 - 10] Outputs and outcomes [LEA 11 - 14] (Proxy) voting and shareholder resolutions [LEA 15 - 24] Overview [LEA 15] Process [LEA 16 - 20] Outputs and outcomes [LEA 21 - 24]
Direct - Fixed Income
ESG incorporation in actively managed fixed income [FI 01 - 13] Implementation processes [FI 01 - 03] (A) Implementation: Screening [FI 04 - 07] (B) Implementation: Thematic [FI 08 - 10] (C) Implementation: Integration [FI 11 - 13] Fixed income - Engagement [FI 15 - 17] Outputs and outcomes [FI 18 - 19]
Direct - Property
Overview [PR 01] Fundraising of property funds [PR 02 - 03] Pre-investment (selection) [PR 04 - 06] Selection, appointment and monitoring third-party property managers [PR 07] Post-investment (monitoring and active ownership) [PR 08 - 14] Overview [PR 08] Property monitoring and management [PR 09 - 10] Property developments and major renovations [PR 11] Occupier engagement [PR 12 - 13] Community engagement [PR 14] Outputs and outcomes [PR 15 - 16]
Direct - Infrastructure
Overview [INF 01 - 02] Fundraising of infrastructure funds [INF 03 - 04] Pre-investment (selection) [INF 05 - 09] Selection, appointment and monitoring of third-party operators [INF 10] Post-investment (monitoring and active ownership) [INF 11 - 16] Overview [INF 11] Infrastructure monitoring and operations [INF 12 - 14] Infrastructure maintenance [INF 15] Stakeholder engagement [INF 16] Outputs and outcomes [INF 17 - 18] Communication [INF 19]
Indirect - Inclusive Finance
Context [IFI 01] Selection [IFI 02] Contractual agreements and mandate design [IFI 03] Investment manager monitoring and reporting [IFI 04 - 05] Disclosure [IFI 06 - 07]
Assurance
Assurance [CM1 01.1 - 01.7]
Export Public Responses
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You are in Strategy and Governance » Promoting responsible investment

Promoting responsible investment

SG 09. Collaborative organisations / initiatives

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

09.1. Select the collaborative organisation and/or initiatives of which your organisation is a member or in which it participated during the reporting year, and the role you played.

Select all that apply

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

APG is one of the founding members of the United Nations Principles for Responsible Investment.

APG initiated collaboration, led and prepared papers and joint statements, acted as an active spokesperson, provided financial support beyond membership fee, supported to some degree in leadership and/or in preparation of documentation, contributed to the organisation or content of events organised by the group, and provided general support for the initiative in various non-public forums.

Additionally, APG is a member of the PRI Steering Committee on Policy and Research, and the PRI working groups on labour relations and palm oil, as well as the Private Equity Advisory Committee and the Hedge Fund Advisory Committee. APG is co-chair of the PRI Advisory Committee on SDG’s.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

APG initiated collaboration, led and prepared papers and joint statements, and provided general support for the initiative in various non-public forums.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

APG is a member of the Australian Council of Superannuation Investors.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

APG is a signatory of CDP.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

APG is a signatory of CDP.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

APG is a signatory of CDP.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

APG, is a member of this not for profit organisation. During 2017 APG participated in events and is contributing to discussions around policy developments in the US market.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

APG is a member of Eumedion. APG is actively involved in the work of several committees and working groups. Until June 2017 APG was represented on the general and daily board, and since then ABP has taken this role.

During 2017, APG contributed to papers and joint statements, acted as an active spokesperson, supported to some degree in leadership and/or in preparation of documentation, contributed to the organisation or content of events organised by the group, and provided general support for the initiative in various non-public forums.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

APG actively participates in the Extractive Industries Transparency Initiative (EITI) on behalf of its clients. APG provided general support for the initiative in various non-public forums.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

APG is a member of Invest Europe and in 2017 was represented via the chair role. APG has led and contributed to initiatives, acted as an active spokesperson, contributed to the organisation or content of events organised by the Board and RI Roundtable, and provided general support for the initiatives in various public forums.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

APG, is a member of this informal forum that provides a platform for international investors on sharing of information on developments in corporate governance. During 2017 APG contributed to discussions and supported a number of engagement initiatives by members.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

APG is a founding member of GRESB and has an active role in the Executive Board and the Supervisory Board. APG is also a founding member of GRESB Infrastructure and is a member of the Infrastructure Advisory Board of GRESB.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

APG is an active member of the board of the European Institutional Investors Group on Climate Change (IIGCC). In 2017, we have contributed to setting up the collaborative Climate Action 100+ engagement with IIGCC. 

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

APG is a member of the International Corporate Governance Network (ICGN). APG has been actively involved in organizing conferences, speaking at conferences, and is part of the ICGN faculty of its training programme. The MD GRIG has a position on the board of ICGN. 

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Through our involvement on the board of the IIGCC, we actively participate in other climate-oriented investor networks.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Since 2010, APG has been an active member of the International Integrated Reporting Committee (IIRC), a powerful interdisciplinary initiative by leading figures from the business community, the financial sector, legislators and regulators, accountants, academics and civil society organizations. IIRC has published a widely supported reporting framework for companies that combines financial, social, environmental and governance information in a workable form. APG is represented at the highest level of the International Integrated Reporting Council (IIRC).

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Through our involvement on the board of the IIGCC, we actively participate in other climate-oriented investor networks (e.g. collaborate with CERES in the Climate Action 100+ engagement).

 
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Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

While not a member, APG contributed to the organisation or content of events organised by the group and provided general support for the initiative in various non-public forums.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Through our involvement on the board of the IIGCC we are in contact with the UNEP FI. We have collaborated with them e.g. in events at the Paris Summit.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We use the principles put forth by the UNGC in our investment processes and engagement decisions. In so doing, we advocate externally for the adoption of the principles by the companies in which we invest.

 
          Standards Board for Alternative Investments (SBAI)

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

APG is fully committed to the SBAI and actively advances its Standards. Through our hedge fund adviser we are represented on the Board of Trustees and APG is also an Investor Chapter member of the SBAI.

 
          Corporate Human Rights Benchmark

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

APG is a founding member of this multi-stakeholder initiative and a member of the Advisory Council. The first benchmark was launched in 2017 and we have subsequently participated in collective engagement on basis of the benchmark results.

 
          IMVO agreement

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

On behalf of our clients, together with other Dutch pension funds, pension administrators and the Pension Federation we have actively participated in the process of reaching an agreement between the sector, the government and social partners about international corporate social responsibility and the contribution of Dutch pension funds to that matter.

 
          High Level Expert Group on Sustainable Finance

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

The MD GRIG has been a member of the High Level Expert Group on Sustainable Finance (HLEG) during 2017. HLEG comprises of 20 senior experts from civil society, the finance sector and academia as well as a limited number of observers from European and international institutions. The task of the HLEG is to provide recommendations to the Commission on how to better integrate sustainability considerations in the EU's financial policy framework, protect the stability of the financial system from risks related to the environment and its stability and mobilize capital, notably from private resources, to finance sustainable investments and growth. The HLEG has published its final report in January 2018.

SG 09.2. Assets managed by PRI signatories (Private)

SG 10. Promoting RI independently

10.1. Indicate if your organisation promotes responsible investment, independently of collaborative initiatives.

10.2. Indicate the actions your organisation has taken to promote responsible investment independently of collaborative initiatives. Provide a description of your role in contributing to the objectives of the selected action and the typical frequency of your participation/contribution.

Description 

          We have provided training to private equity industry professionals via our involvement in the structuring and delivery of the Invest Europe Academy Integrating Responsible Investment Course.

Frequency of contribution

Description 

          We have been actively involved in advancing RI in Real Estate (GRESB), Hedge Funds and Private Equity through various ESG Initiatives.

Frequency of contribution

Description 

          Representatives of APG regularly speak at public events and conferences to promote responsible investment. Amongst others, the CEO of APG Asset Management spoke at the Young Entrepreneurs World Congress with the theme:  ‘How does APG as an investor contribute to the United Nation’s Sustainable Development Goals?’ The MD GRIG spoke at a panel during the COP23 conference in Bonn in November 2017.

Frequency of contribution

Description 

          We have contributed to various articles in the media around responsible investment. For example, the MD GRIG featured in an article in the Dutch newspaper NRC together with Frank Elderson from the DNB about the work of the High Level Expert Group on Sustainable Finance. In addition, the MD Capital Markets spoke in an interview with Dutch newspaper Het Financiële Dagblad about the dilemma’s around responsible investment.

Frequency of contribution

Description 

          APG is a member of the PRI Steering Committee on Policy and Research, and the PRI working groups on labour relations and palm oil, as well as the Private Equity Advisory Committee and the Hedge Fund Advisory Committee. APG is co-chair of the PRI Advisory Committee on SDG’s.

Frequency of contribution

Description 

          Representatives of APG have various board positions in RI organizations, such as IGCN and IIGCC.

Frequency of contribution

10.3. Describe any additional actions and initiatives that your organisation has taken part in during the reporting year to promote responsible investment [Optional]

SG 11. Dialogue with public policy makers or standard setters

11.1. Indicate if your organisation - individually or in collaboration with others - conducted dialogue with public policy makers or regulators in support of responsible investment in the reporting year.

11.2. Select the methods you have used.

11.3. Where you have made written submissions (individually or collaboratively) to governments and regulatory authorities, indicate if these are publicly available.

11.4. Provide a brief description of the main topics your organisation has engaged with public policy-makers or regulators on.

APG takes an active role in contributing to statements on behalf of its clients which are subsequently publicly endorsed them such as the IIGCC statements on climate change policy, statements by the ICGN on Integrated Reporting and submissions to consultations by Eumedion, to name a few. We also lobby on broader issues affecting pension investment management.

We have been especially active at advancing governance best practices in Asia (e.g. dual share classes, independence requirements and foreign ownership limits), where members of the GRIG team have been in frequent discussions with regulators and policy makers.
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