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APG Asset Management

PRI reporting framework 2018

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Objectives and strategies

SG 05. RI goals and objectives

05.1. Indicate if and how frequently your organisation sets and reviews objectives for its responsible investment activities.

05.2. Additional information. [Optional]

Internal reviews

The GRIG team has monthly and quarterly meetings, which are partly used to review YTD performance against objectives.

Furthermore, there are regular Investment Committee meetings,  amongst others, to approve aspects of the implementation of the RI policy. In addition, the board of APG AM and the management team of the Chief Investment Officer receive regular updates about the implementation of the RI via monthly reports.

External reviews

The GRIG Team reports on a monthly basis to its clients about performance (e.g. engagements, integration, voting and signoffs).

Furthermore, there are regular ESG presentations to clients and even participants of APG's clients.

Between APG and its clients, there is a Fiduciary Management function within APG. The Fiduciary Manager is responsible for providing the clients with independent advice and keep oversight on the appropriate implementation of client mandates. As part of this function, the Fiduciary Manager conducted a full annual review of the implementation of the RI policy by APG.

SG 06. Main goals/objectives this year

06.1. List the main responsible investment objectives that your organisation set for the reporting year.

Responsible investment processes

Key performance indicator

          Training to portfolio managers on conducting engagement

Progress achieved

As part of the roll-out of our clients’ Inclusion Policy, we have provided training to portfolio managers on conducting engagement. Around 60 portfolio managers globally attended these trainings. 

Key performance indicator

          Launch of Knowledge Management System

Progress achieved

To ensure the sharing of knowledge and consistency and cooperation in engagement activities throughout the organization, we have launched a Knowledge Management System in 2017. This system gives information about the classification of companies, all the pending and historic engagement activities and relevant research, financial and ESG information.  

Key performance indicator

          Successful engagements with companies and investors to directly improve and raise awareness of supply chain and labor standards issues, especially in the garment sector

Progress achieved

Engagement with a number of listed companies operating in the garment sectors using APG developed guidance on labor standards in the garment sector supply chain increased awareness of these important issues and led some companies to commit to improve their oversight in this area.

Key performance indicator

          We have worked on the implementation of our largest’ client’s new Responsible Investment Policy.

Progress achieved

Our largest client has received reports regarding the implementation of their new RI Policy on a monthly and quarterly basis. We have prepared an annual review of the implementation for the board of trustees of ABP. 

Financial performance of investments

ESG characteristics of investments

Key performance indicator

          Roll-out of Inclusion Policy

Progress achieved

In 2017 we started with the assessment of the first sectors as part of the implementation plan of the Inclusion Policy. At the end of the year, this assessment is completed for six sectors within Developed Markets and for three sectors in Emerging Markets.

Other activities

Key performance indicator

          Sharing of Sustainable Development Investments (SDI) Taxonomy

Progress achieved

In 2017 we have published a Taxonomy mapping investments that we consider to qualify as SDI. As part of this publication, we have been actively sharing this Taxonomy with others.

06.2. Additional information.