APG Asset Management and PGGM plan to share taxonomy on sustainable investments with other global asset owners through an artificial intelligence-powered platform, the managers said in a news release Wednesday.
The managers of the €459 billion ($503 billion) Stichting Pensioenfonds ABP, Heerlen, Netherlands, and the €185 billion ($203 billion) Pensioenfonds Zorg en Welzijn in Zeist, Netherlands, seek to build a platform to help asset owners meet the United Nations' sustainable development goals.
The platform is intended to show which listed companies contribute to the sustainable development goals. The platform will utilize data analysis company ENTIS to search for and identify sustainable investments.
"APG started developing this AI-based approach to investing into the SDGs in 2016 in order to be able to serve our clients' SDG investment ambitions. From the start our goal has been to collaborate with like-minded investors. We are delighted to work together with our partner PGGM, and would like to invite our peers to join us on this platform, which we seek to launch formally in the first quarter of 2020," Claudia Kruse, managing director and head of APG's global responsible investment and governance team said in a news release.
Asset owners welcomed the initiative.
"We welcome the work of APG and PGGM in advancing asset owner initiatives that seek to translate the SDGs into investable opportunities," the A$50 billion ($33.6 billion) Cbus CEO David Atkin said in the release.
David Russell, head of responsible investment at the £64 billion ($77 billion) Universities Superannuation Scheme, London, added in the release: "USS strongly welcomes this asset owner led initiative, and we look forward to working with the SDI Asset Owner Platform in assessing our exposure to and support for the SDGs."