A climate for quantitative analysis
“APG has incorporated the objectives and ideals of ESG and sustainability into its investment process. In real estate, it leads the way in incorporating quantitative metrics around issues such as climate change,” judge’s comment
WINNER
Country |
Netherlands |
Founded |
2008 |
Type |
Hybrid multi-employer pension investor |
Members |
1,232,782 active |
Assets |
€521,000m |
Performance |
-10% (1yr) |
APG, the €625bn pension investor for Dutch civil service scheme ABP, aims to be a leader in sustainable investing and technology. It actively seeks out innovative strategies and assets in sectors such as renewable energy, energy storage and smart city infrastructure to generate financial returns while delivering positive environmental and social outcomes.
The organisation also prioritises social impact. In partnership with Asian specialist healthcare investment group, CBC Group, it launched the CBC Healthcare Infrastructure Platform to invest in healthcare infrastructure across the Asia Pacific region, with the primary aim of providing better access to healthcare services for underserved communities.
APG works collaboratively by engaging with portfolio companies to improve corporate sustainability practices and governance. It also forms consortiums with like-minded investors to leverage collective influence when needed. It is a member of Climate Action 100+, helping to encourage companies to transition to low-carbon models and align with climate objectives.
APG has contributed to developing market standards for ESG considerations in real estate and infrastructure, playing a leading role in establishing the Global Real Estate Sustainability Benchmark (GRESB). Its portfolio’s GRESB score improved from 81 in 2021 to 85 in 2022, surpassing peer benchmarks.
In addition to GRESB, APG has worked to improve data standards for green certified buildings. It actively engages with data and certification providers and has developed its own database of more than 100,000 real estate assets around the world, which includes data on geo-coordinates, energy intensity and carbon intensity. This supports APG’s decision making through the provision of comprehensive sustainability information.
For 2024 and beyond, APG plans to continue to contribute to a greener future through investing in cutting-edge technologies, climate resilience efforts, social impact projects, alignment with the Sustainable Development Goals, and improving market standards and transparency.
STRATEGIC TAKEAWAYS
➤ Global leader in ESG-themed investment and technology |
➤ Substantial investments in social impact in South East Asia through healthcare platform |
➤ Development of database of real estate assets containing detailed climate-related information |
HIGHLY COMMENDED
Country |
France |
AUM |
€38,333m |
Performance |
-12.47(1yr); |
ERAFP's €38.3bn investment portfolio is managed according to a long-established socially responsible investment policy. This commitment, and climate-related strategies in particular, is consistent with its long-term investment horizon. Roughly €14bn – 36% of ERAFP’s assets – are invested in assets and strategies supporting the transition to a decarbonised economy. The pension fund has also disclosed that 11% of its portfolio companies have an emissions reduction strategy in line with the 2015 Paris Agreement, while 4% of its real estate portfolio is similarly aligned. It aims to continually improve these metrics.
Country |
Denmark |
AUM* |
€41,000m |
Performance) |
–5.8% (1yr) |
By the end of 2024, PensionDanmark aims to reduce its climate footprint for listed equities and corporate bonds by 45% compared to 2018. Currently, it is making significant progress towards achieving this target. In recent years, it has focused on investing in the next generation of green technologies that will provide new solutions to the global climate crisis. This includes an investment in Copenhagen Infrastructure Partners’ CI Advanced Biofuel Fund, which targets a renewable energy sector that is expected to double in size by 2030.
Judged by
Robert Black
Chandran Fernando
Sophie Grenier van Straelen
Joseph Mariathasan
Sponsored by
