The emerging market debt team has deepened ESG integration in its investment process over the past years. The team uses the ESG Country risk tool that APG has developed together with research providers. The emerging market debt team has done an analysis on the data of the ESG Country Risk tool to assess the relationship between the risk premium of a country and the ESG scoring. The team has selected indicators deemed relevant for this relationship as these factors drive growth potential or are an indicator of social (in)stability. These selected ESG indicators are integrated in the in-house build score card for assessing risks and opportunities of the investments. Most of the indicators that the team adopted are governance and social indicators such as rule of law, government effectiveness, corruption perception, equality, education and the standard of living. Next to the ESG integration in the investment process through the Scorecard model, the team implements the Sovereign Bonds Exclusion list. Going forward, EMD will deepen the responsible profile of our clients portfolio, and search for potential new investment opportunities in sustainable development investments and ESG integration will take place in all phases of the investment management process.