APG

APG, based in the Netherlands and operating in financial intermediation services, has reported significant carbon emissions. For 2024, APG's total emissions were approximately 101.6 billion kg CO2e, comprising about 8.8 billion kg CO2e from Scope 1, approximately 2.2 billion kg CO2e from Scope 2, and an estimated 90.6 billion kg CO2e from Scope 3. In 2023, total emissions stood at approximately 100.1 billion kg CO2e, with Scope 1 at nearly 10.0 billion kg CO2e, Scope 2 at about 2.6 billion kg CO2e, and Scope 3 at roughly 87.6 billion kg CO2e.

APG is committed to climate action, with its pension fund clients announcing updated climate targets for 2030. These targets include a 50% absolute reduction in the CO2 footprint of listed equity and credit portfolios, aligned with the Climate Commitment of the Dutch Financial Sector and the Dutch Climate Agreement. This commitment applies to Scope 1 and Scope 2 emissions.

APG's emissions data is cascaded from APG Asset Management NV, where APG operates as a current subsidiary at cascade level 2. While specific reduction targets beyond the client-focused portfolio reductions are not detailed, the company's reporting covers Scope 1, 2, and 3 emissions. Previous years' data shows Scope 1 emissions around 1.0 billion kg CO2e and Scope 2 emissions approximately 0.4 billion kg CO2e in 2021, with Scope 3 emissions being a significantly larger component. For 2022, Scope 1 emissions were approximately 1.6 billion kg CO2e and Scope 2 emissions about 3.9 billion kg CO2e. Notably, for the 2024 and 2023 reporting years, there is a reported omission for purchased goods and services within Scope 3.