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APG Asset Management

PRI reporting framework 2020

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Outputs and outcomes

LEI 12. How ESG incorporation has influenced portfolio composition

12.1. Indicate how your ESG incorporation strategies have influenced the composition of your portfolio(s) or investment universe.

Describe any reduction in your starting investment universe or other effects.

Per December 2019 we exclude 156 public and 119 private companies that are directly, or through ownership, involved in production of anti-personnel landmines, cluster munitions, nuclear weapons or tobacco production. We exclude 3 companies that we consider to be in violation of the UN Global Compact principles. 10 countries currently feature on the exclusion list for sovereign bonds. We apply the exclusion policy for listed and non-listed issuers, this list is of private issuers internally available and shared with our external managers. 

Specify the percentage reduction (+/- 5%)

%

Select which of these effects followed your ESG integration.

12.2. Additional information.[Optional]


LEI 13. Examples of ESG issues that affected your investment view / performance

13.1. Provide examples of ESG factors that affected your investment view and/or performance during the reporting year.

ESG factor and explanation

Development of inclusion policy

ESG incorporation strategy applied Integration

Impact on investment decision or performance

The inclusion policy applies both to Listed Equity and Fixed Income Corporates. In 2019, we have continued with the roll-out of the Inclusion Policy. The investable universe contains around 10,000 companies at a given point in time. At year end, the finalised classifications of approximately 7,700 companies were fully implemented in portfolios, and more than 2,000 new companies were assigned preliminary classifications under the Inclusion Policy.

ESG factor and explanation

Carbon footprint

ESG incorporation strategy applied Integration

Impact on investment decision or performance

We measure the carbon footprint of our Listed Equity portfolio, and our clients have established a target to reduce the footprint by 25% in 2020 (base year is 2015). As a result, we take carbon emissions of companies into account in the investment process, and the carbon footprint has remained significantly below the baseline level. The target of 25% was exceeded and the carbon footprint of the equity portfolio showed a reduction of 30% at year end compared to the 2015 baseline.

13.2. Additional information.[Optional]


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