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APG Asset Management

PRI reporting framework 2020

Export Public Responses

You are in Direct - Infrastructure » Selection, appointment and monitoring of third-party infrastructure operators


INF 10. ESG issues in selection, appointment and monitoring of third-party operators

10.1. 組織が第三者の事業者の選択、指名やモニタリングにおいてESG問題を含めているかどうかを記載してください。

10.2. 組織が第三者の事業者の選択、指名、モニタリングにESG問題を含めているかどうかを記載してください。

10.3. 組織が設定している第三者の事業者の選定、指名およびモニタリングのプロセス・手法について簡潔に説明してください [任意]

All third-party operators are selected, appointed and monitored using the following process:

  1. Mandatory Due Diligence Questionnaire ('DDQ') including ESG questions
  2. ESG Consultation: Internal meeting with PM to discuss any potential issues arising out of DDQ and how to resolve these
  3. ESG Due Diligence: Scope developed with deal team as part of the technical due diligence exercise
  4. ESG Implementation: External meeting with manager to explain the issues and propose solutions and potential implementation of ESG conditions in contracts (as of 2015, we ask new infrastructure investments to participate in GRESB Infrastructure)
  5. Formal Assessment: ESG Specialist provides written opinion for review by global Committee for Investment Proposals (chaired by CIO)
  6. Annual (Manager) Review: review if conditions were met
  7. Ongoing Engagement (based on GRESB Infrastructure results at an overarching and sub-indicator level)

The launch of GRESB infrastructure together with 9 other founding members is a way to set market wide standards on ESG. In addition to that, APG is a founding member and Board member of the Global Infrastructure Investor Association (GIIA). The GIIA, which was founded in 2015, will work in partnership with governments and regulators to achieve the shared ambition of increasing infrastructure investment.

10.4. 第三者の事業者が組織のインフラ投資のESG問題の管理にどのように貢献しているかを説明してください。 [任意]

Even for direct investments, we always appoint a manager for the daily operation of the assets. These can be fully internalized (part of the operational company) or also hold a significant economic ownership in the assets (as a JV partner). It is the primary task of the manager to ensure the ESG standards are put into practice. In order to get a more consistent overview of the ESG approach in our infrastructure assets, we launched GRESB Infrastructure in 2015. This tool supports an informed dialogue with our infrastructure investments during the investment phase. 79% of APG’s Private Markets Assets Under Management (AUM)  participated in the GRESB Infrastructure Assessment in 2019.