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APG Asset Management

PRI reporting framework 2020

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Post-investment (monitoring and active ownership)

Overview

PR 08. ESG issues in post-investment activities

08.1. Indicate if your organisation, and/or property managers, considers ESG issues in post-investment activities relating to your property assets.

08.2. Indicate whether your organisation, and/or property managers, considers ESG issues in the following post-investment activities relating to your property assets.

          We consider ESG issues in employee engagements related to our properties
        

08.3. Describe how your organisation, and/or property managers, considers ESG issues in post-investment activities related to your property assets.

We engage with the management of our investments on ESG issues and performance (e.g. GRESB performance relative to peers and rankings). We discuss potential areas for improvement (based on GRESB and/or corporate governance) and ask the management what could be improved/implemented in the coming year(s). We use GRESB (the survey is conducted annually), our Annual Manager Review, Governance rating providers, and our own ongoing engagements and analyses to monitor if the targets on which we agreed were achieved. When preparing for meetings with listed property companies, we read their public information (e.g. website and sustainability report) and provide the company with feedback and our expectations.


Property monitoring and management

PR 09. Proportion of assets with ESG targets that were set and monitored

09.1. Indicate the proportion of property assets for which your organisation, and/or property managers, set and monitored ESG targets (KPIs or similar) during the reporting year.

(in terms of number of property assets)

09.2. Indicate which ESG targets your organisation and/or property managers typically set and monitor

Target/KPI
Progress Achieved
          Water usage
        
          Energy data coverage
        
          Green Building Certification
        
          Decreased like-for-like water usage
        
          Determined baseline and aim to increase the energy data coverage
        
          20% (by GLA) is certified with a restricted list of recognised green rating schemes (e.g. BREEAM in-Use)
        
Target/KPI
Progress Achieved
          Stakeholder engagement (aspect score GRESB)
        
          Application of sustainability requirements to the supply chain
        
          GRESB Social score
        
          Monitor annual results from GRESB
        
          Performance on GRESB Developer assessment
        
          We monitor the GRESB Social score
        
Target/KPI
Progress Achieved
          GRESB Governance score
        
          
        
          
        
          We monitor the GRESB Governance score
        
          
        
          
        

09.3. Additional information. [Optional]

We also use specific indicators for new constructions such as Health & Safety violations, injury rates, etc. as part of the GRESB Developer assessment.


PR 10. Certification schemes, ratings and benchmarks

10.1. Indicate whether your property assets are assessed against certification schemes, ratings and/or benchmarks

10.2. List the certification schemes, ratings and/or benchmarks your property assets are assessed against and what proportion of your property assets they apply to.

Specify
          GRESB
        
Proportion of property assets these apply to

(in terms of number of property assets)

Specify
          Green Building Certification
        
Proportion of property assets these apply to

(in terms of number of property assets)

10.3. Indicate if your organisation uses property specific reporting standards to disclose information related to your property investments’ ESG performance.

          GRESB
        

10.4. Additional information.

The above percentages are based on the NAV weighted portfolio that participates in the GRESB benchmark. Approximately 90% of our NAV weighted portfolio participates in the GRESB benchmark. At this moment, we are not able to report on basis of property assets because GRESB does not provide insight on asset level yet. With GRESB we work towards more asset level information, including building certification. To day approximtately 20% by GLA is certified. We have asked GRESB to provide us with information on certification by value. Further, we have funded the global development of CRREM (www.crrem.org) which will enable us to monitor/measure at a global level to what extent our portfolio is in line with the Paris Agreement.


Property developments and major renovations

PR 11. Proportion of developments and refurbishments where ESG issues were considered

11.1. Indicate the proportion of active property developments and major renovations where ESG issues have been considered.

(by number of active property developments and refurbishments)

11.2. Indicate if the following ESG considerations are typically implemented and monitored in your property developments and major renovations.

          Whether an internationally recognized occupational health and safety management system is in place.
        

11.3. Additional information. [Optional]


Occupier engagement

PR 12. Proportion of property occupiers that were engaged with

12.1. Indicate the proportion of property occupiers your organisation, and/or your property managers, engaged with on ESG issues during the reporting year.

(in terms of number of occupiers)

12.2. Indicate if the following practises and areas are typically part of your, and/or your property managers’, occupier engagements.

12.3. Additional information. [Optional]


PR 13. Proportion of green leases or MOUs referencing ESG issues (Private)


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