The sustainability work is a continuous process, and as the market, the companies evolve i.e. almost everyday there is an evaluation of the work being done, and it is also a learning process. The objectives set have different time frames depending on if they are set for a specific mandate or for the whole of the organisation. AP3 set four climate related targets for the period 2015 - 2018. The results are published in the Annual Report.
The results reached and also questions about the development are included in an internal annual review, covering the whole organisation, the work and progress made with regard to sustainability. How far have we come with regard to the targets set. (four specific goals formulated in December 2015 an dnow new goals). What ambitions are realistic to have, what can be done within our mission and legal framework?
How has the Fund proceeded with respect to the overall ambitions (investments, development of processes (screenings of different sustainability factors, metrics, tools, education etc). They are all important drivers of the integration process. But there is also a evaluation of the measures taken and the financial/performance impact on the portfolio. This evaluation is part of the ordinary internal reporting.
The sustainability targets that were announced late 2015, have been reviewed on a regular basis through out the year. They are also part of the internal oversight and evaluation. They are publicly commented on a yearly basis in the Annual Report. 2018 was the end year for the targets and new ambitions will be formulated for the years to come.
There are objectives at different levels in the portfolio, these are handled on a regular basis in the Sustainability Advisory group. The individual managers have also a responsibility.