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PSP Investments’ 2023 Sustainable Investment Report outlines progress on top sustainability priorities
Highlights:
- Achieved target to increase investments in transition assets to $7.5 billion ahead of 2026 schedule.
- Reported Scope 1 and Scope 2 GHG data for assets in-scope climbed from 47% in fiscal year 2022 to approximatively 54% in fiscal year 2023.
- Further embedded our understanding of sustainability-related risks and opportunities into our culture, operations and investment practices to enhance our long-term sustainable investment approach.
- Strengthened our approach to sustainability and climate by updating our Sustainable Investment Policy and Corporate Governance and Proxy Voting Principles.
- Increased partnerships with institutional investors, industry associations and NGOs highlight our focus on engagement and collaboration.
MONTRÉAL, Sept. 14, 2023 /PRNewswire/ — The Public Sector Pension Investment Board (PSP Investments) today published its annual Sustainable Investment Report, which outlines how the organization is striving to embed sustainable investing into its culture, operations and investment activities to continue to advance capabilities and address emerging risks and opportunities. Accompanying reporting includes PSP Investments’ climate-related financial disclosures based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
“In a year marked by challenges and uncertainty for investors, PSP Investments continued to deliver resilient long-term financial results and advance its capabilities to address emerging risks and opportunities,” said Deborah K. Orida, President and Chief Executive Officer at PSP Investments. “We aspire to develop additional foresight on the structural changes that will impact investments over the long term. This will include our evolving insights on climate, biodiversity, and the impact of social matters on our license to operate.”
The report outlines PSP Investments’ progress on the organization’s top sustainability priorities, including performance toward fiscal 2026 climate targets, the integration of material sustainability factors into decision-making and evolution of the approach. The climate-related financial disclosures showcase progress on metrics and targets; introducing our first-ever data quality assessment using the Partnership for Carbon Accounting Financials (PCAF) methodology; and present the progress made on the approach and implementation of our Green Asset Taxonomy.
“As a pension investor, one of our core investment beliefs is that identifying, monitoring, integrating and capitalizing on material emerging factors contributes to long-term investment performance and to our ability to deliver on our mandate,” said Eduard van Gelderen, Senior Vice President and Chief Investment Officer at PSP Investments. “Our 2023 Sustainability Investment Report showcases the progress we are making in translating this belief into concrete actions and measurable outcomes.”
Fiscal 2023 highlights include:
Acting on climate change
- Identified more eligible transition assets in our portfolio than anticipated when we first implemented our Green Asset Taxonomy, enabling us to reach our target of increasing investments in transition assets to $7.5 billion earlier than expected.
- Expanded the scope of application of our Green Asset Taxonomy to include listed corporate bonds and applied more stringent criteria for green assets in public and private markets.
- Published a Green Asset Taxonomy white paper in effort to increase transparency and promote market convergence.
- Released our inaugural Green Bond Impact Report, which is linked to the issuance of our first green bond of $1 billion in fiscal 2022.
Continuing to expand our data capabilities
- Rolled out an inaugural total fund sustainability-related data collection process, covering key performance indicators in the areas of climate change, diversity, equity and inclusion (DE&I), business ethics, cybersecurity and data privacy, and human capital management.
- Carried out an asset-level GHG data collection initiative with local operating portfolio company partners in six countries, covering over three million hectares of farmland and timberland across more than 400 individual properties.
- Created sustainability due diligence tools to help our investment professionals integrate material sustainability-related considerations into their investment processes.
Advancing our sustainable investing approach
- Updated our Sustainable Investment Policy and Corporate Governance and Proxy Voting Principles, further embedding our approach to sustainability and climate into our investment and active ownership activities and enhancing our expectations with respect to corporate governance and public disclosures on climate change risks and opportunities.
- Introduced a hub-and-spoke model for integrating material sustainability factors into our investment process, providing our investment teams with tools, resources and training that will ultimately enable them to take on greater responsibility for this activity.
- Leveraged our cross-asset class Climate Investing Workgroup to advance collaboration on climate investing opportunities across PSP Investments and build knowledge on key climate investing themes.
Continuing to create value through active ownership
- Over the past fiscal year, PSP Investments has, where appropriate, engaged with 860 publicly listed companies whose securities it holds. This was done either directly with the company, with the assistance of a global stewardship service provider, or, where appropriate, in collaboration with like-minded investors or organizations such as the Canadian Coalition for Good Governance.
- In fiscal year 2023 PSP Investments voted at 5,760 meetings on a total of 58,872 management and shareholder resolutions.
“PSP Investments has developed a holistic approach to sustainable investing, leveraging our capital, influence and capabilities to preserve and enhance long-term value,” said Herman Bril, Managing Director and Head of Sustainability and Climate Innovation at PSP Investments. “A strong focus on materiality enables us, as investors, to better understand the potential impact of sustainability-related factors on financial performance and to make informed investment decisions that support long-term value creation.”
To read PSP Investments’ 2023 Sustainable Investment and TCFD reports, visit our website.
About PSP Investments
The Public Sector Pension Investment Board (PSP Investments) is one of Canada’s largest pension investors with $243.7 billion of net assets under management as of March 31, 2023. It manages a diversified global portfolio composed of investments in capital markets, private equity, real estate, infrastructure, natural resources, and credit investments. Established in 1999, PSP Investments manages and invests amounts transferred to it by the Government of Canada for the pension plans of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. For more information, visit investpsp.com or follow us on LinkedIn.
View original content:https://www.prnewswire.co.uk/news-releases/psp-investments-2023-sustainable-investment-report-outlines-progress-on-top-sustainability-priorities-301927986.html
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Ping An Wins Sixth Director of the Year Award and Inaugural Climate Governance Award from the Hong Kong Institute of Directors
HONG KONG and SHANGHAI, Nov. 29, 2024 /PRNewswire/ — Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An” or the “Group”, HKEX: 2318/82318, SSE: 601318) received the Director of the Year Award and the Climate Governance Award for 2024 from the Hong Kong Institute of Directors (HKIoD) on November 28. This marks the sixth time Ping An’s Board of Directors has received the Director of the Year Award. Ping An is also the first recipient of the inaugural Climate Governance Award.
Since its establishment in 1988, Ping An has become one of the largest integrated financial, healthcare and senior care service providers in Mainland China. Ping An was nominated for the HKIoD awards for its diversified board of directors, dedicated to safeguarding the interests of the Company and all shareholders and promoting the Company’s long-term, stable development.
Mr. Ng Sing Yip, Independent Non-executive Director, accepted the awards on behalf of Ping An’s board. He said, “Ping An’s success as a world-leading integrated financial, healthcare and senior care service provider is closely linked to its high standards of corporate governance and the trust of our stakeholders.” The awards were also attended by Ms. Cai Fangfang, Executive Director and Senior Vice President, Ms. Cai Xun, Non-executive Director, Mr. Ng Kong Ping Albert, Independent Non-executive Director, Mr. Liew Fui Kiang, Independent Supervisor, and Mr. Hung Ka Hai Clement, Independent Supervisor, as representatives of the board and the Supervisory Committee.
Ping An’s Board of Directors will continue to lead the Company’s strategic planning, and participate in risk management, financial control, compliance, and internal control. The board will continue to enhance corporate governance and climate risk management capabilities, and grow value for stakeholders.
Ping An has long pursued a balanced and professional board structure. Ping An’s 15 directors possess professional expertise in insurance, banking, investment, accounting, law, management, and technology, with extensive industry and operational experience. Ping An has six independent non-executive directors, who account for 40% of the Board, exceeding the industry average. In 2023, the board completed 26 training sessions covering corporate governance, environmental and climate impact, and sustainable development. Since the Company’s listing, the board has conducted on-site inspections and reviews at grassroots level for 20 years, collecting opinions and suggestions from frontline employees and urging business units to continuously improve operational management.
Ping An’s Board of Directors focuses on providing foresight and guidance of the Company’s strategy for efficient implementation and high-quality business development. Under the leadership of the board, Ping An is promoting its “integrated finance + healthcare and senior care” strategy driven by technology. In the first three quarters of 2024, the Group’s operating profit attributable to shareholders of the parent company reached RMB113.82 billion, representing a year-on-year increase of 5.5%, and revenue reached RMB775.38 billion, a year-on-year increase of 10.0%. Three core businesses – life and health insurance, property and casualty insurance and banking – maintained growth, with their combined operating profit attributable to shareholders of the parent company reaching RMB119.65 billion, a year-on-year increase of 5.7%.
Ping An continues to strengthen integrated finance, shifting from cross-selling to comprehensive customer management. As of September 30, 2024, the Group had 240 million retail customers, a year-to-date increase of 3.8%. Customer retention continued to improve, with 25.1% of customers holding four or more contracts within the Group, and a retention rate of 98.0%. The healthcare and senior care strategy continued to yield results, with the value of Ping An’s differential advantages becoming more apparent. In the first three quarters of 2024, more than 19.5 million Ping An Life insurance customers used services in the healthcare and senior care ecosystem. Ping An’s innovative integrated “medical care, nursing, housing, and entertainment” model has established industry standards and ecosystems for senior care services. The services cover 75 cities across China, with more than 150,000 customers entitled to home-based senior care services.
Ping An’s Board of Directors oversees environmental, social and corporate governance (ESG) matters. It has built an efficient and collaborative long-term ESG governance mechanism, and promotes core practices such as climate governance and rural revitalization. Ping An pledges to achieve carbon neutrality across its operations by 2030, and has formulated short- and medium-term targets and roadmaps. In 2023, Ping An took the lead in launching China’s insurance industry’s first carbon account system covering all employees, recording each employee’s low-carbon office behavior, daily low-carbon behavior, and carbon emission data to support climate governance. Ping An also promotes green finance. In the first three quarters of 2024, Ping An’s green insurance premium income reached RMB37.34 billion.
Thanks to its outstanding performance in sustainable development, Ping An has received the highest ratings in multiple industry evaluations. Ping An has maintained an A rating in MSCI ESG Ratings for two consecutive years, ranking first in the multi-line insurance and brokerage industry in the Asia-Pacific region. It has been in S&P’s Sustainability Yearbook (China Edition) for two consecutive years, the only insurance company from Mainland China on the list. Ping An also has a “low risk” rating with a score of 17.0 in Morningstar Sustainalytics ESG Ratings and a B rating in CDP (Carbon Disclosure Project) Ratings, the highest ratings in China’s financial industry.
The HKIoD is Hong Kong’s premier organization representing professional directors, with more than 2,000 members from senior management of Hong Kong-based companies and listed companies worldwide. Its Director of the Year Awards evaluate companies’ performance in promoting development strategies, business strategies, and digital transformation at the board level. The Climate Governance Award, a newly launched award series in 2024, evaluates the performance of corporate boards in promoting sustainable development, climate governance and related information disclosure. The 2024 awards were co-organized by the Financial Services and the Treasury Bureau, the Securities and Futures Commission, and Hong Kong Exchanges and Clearing Limited.
Ping An will continue to adhere to responsible, high-standard corporate governance. Under the scientific and forward-looking guidance of the Board of Directors, Ping An will continue to deepen the “integrated finance + healthcare and senior care” strategy driven by technology, consolidate the advantages of integrated finance, promote its healthcare and senior care initiatives, advance digital transformation and pursue high-quality development. It is committed to creating greater value through stable growth for customers, employees, shareholders, and society.
About Ping An Group
Ping An Insurance (Group) Company of China, Ltd. (HKEx:2318 / 82318; SSE:601318) is one of the largest financial services companies in the world. It strives to become a world-leading provider of integrated finance, health and senior care services, Under the technology-driven “integrated finance + health and senior care” strategy, the Group provides professional “financial advisory, family doctor, and senior care concierge” services to its 240 million retail customers. Ping An advances intelligent digital transformation and employs technologies to improve financial businesses’ quality and efficiency and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of September 2024, Ping An had more than RMB12 trillion in total assets. The Group ranked 29th in the Forbes Global 2000 list in 2024 and 53rd in the Fortune Global 500 list in 2024.
For more information, please visit www.group.pingan.com and follow us on LinkedIn – PING AN.
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SHANGHAI, Nov. 28, 2024 /PRNewswire/ — The 7th China International Import Expo (CIIE) drew to a successful close on November 10th in Shanghai. While many intangible achievements and connections were made, this year’s data shows how the Expo achieved unprecedented success in global participation and business opportunities. Tentative deals totaled USD 80.01 billion, marking a 2 percent increase from the previous year.
Vibrant Participation from around the World
As a crucial platform for global collaboration, the 7th CIIE invited 77 countries and international organizations from five continents for the Comprehensive Country Exhibition. Participants incorporated unique cultures, national identities, and modern technology into booth designs, with an impressive lineup of over 200 captivating events hosted at the booths. A total of 3,496 companies from 129 countries and regions participated in the Enterprise & Business Exhibition, including 1,585 companies from 104 countries in the Belt and Road Initiative, 1,106 companies from 13 countries in the Regional Comprehensive Economic Partnership, and 132 exhibitors from 35 least developed countries.
Wide Range of Cutting-Edge Innovations and Debuts
Innovative achievements and diverse debuts have consistently been a major highlight from each edition of the expo. At the 7th CIIE, the Innovation Incubation Special Section showcased 360 innovative projects from 34 countries and regions, supporting the development of small and medium-sized enterprises (SMEs) and startups. In addition, multinational companies introduced 450 new products, services, and technologies, including over 100 global launches, 40 Asia premieres, and over 200 China debuts, unlocking momentum for new drivers of consumer demand.
International Perspectives and Collaborative Dialogues at the HQF
Serving as an important platform for international communication, the Hongqiao International Economic Forum (HQF) becomes a focal point of attention at each edition of the CIIE. Focusing on trending topics, the 7th HQF attracted over 8,600 registrations and convened more than 300 globally renowned experts and leaders in politics, business, and academia. The 7th HQF also released the World Openness Report 2024 alongside the World Openness Index, delivering a message of openness and fostering international cooperation.
The 7th China International Import Expo was undoubtedly a complete success, demonstrating its significant role as a stage for advancing global cooperation. With preparations for the 8th CIIE actively underway, the expo continues to expand opportunities for global trade and economic cooperation, warmly inviting countries and enterprises from abroad to join!
Visit CIIE official website for more information: https://www.ciie.org/zbh/en/?from=prnewswire
Contact: Ms. Cui Tel.: 0086-21-968888 Email: [email protected]
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STOCKHOLM, Nov. 28, 2024 /PRNewswire/ —
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR TO ANY PERSON LOCATED OR RESIDENT IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES TO DISTRIBUTE THIS ANNOUNCEMENT.
Europi Property Group AB (publ) (“Europi” or the “Company“) has successfully issued senior unsecured green bonds of EUR 50m under a framework of up to EUR 100m and a tenor of three years (the “Green Bonds“). The Green Bonds have a floating interest of 3M Euribor plus 500 basis points per annum. Europi intends to list the Green Bonds on the sustainable bond list of Nasdaq Stockholm within 12 months and Nasdaq Transfer Market within 60 days, with an ambition to have the Green Bonds admitted to trading within 30 days.
An amount corresponding to the net proceeds from the Green Bonds will be used in accordance with the Company’s green finance framework (the “Green Finance Framework“).
Skandinaviska Enskilda Banken AB (publ) and ABG Sundal Collier AB have acted as advisors in relation to the issue of the Green Bonds. Vinge has acted as legal counsel in relation to the issue of the Green Bonds.
More information regarding the Green Finance Framework and Sustainalytics’ second party opinion can be found at https://europi.se/bond-investors/
For further information, please contact:
Jonathan Willén, CEO, [email protected]
+46 (0) 8 411 55 77
About Europi (www.europi.se)
Europi Property Group, founded in 2019, is a pan-European real estate investment company headquartered in Stockholm (with an office also in London) investing discretionary capital across all sectors with a flexible investment strategy. Europi has since inception completed public and private transactions of more than €700m in gross asset value alongside its established network of local operating partners and completed four successful exists. By combining a truly entrepreneurial, active ownership approach with focus on social and environmental sustainability, Europi generates long term value and positive impact for all stakeholders.
This information was brought to you by Cision http://news.cision.com
View original content:https://www.prnewswire.co.uk/news-releases/europi-property-group-ab-publ-successfully-issues-senior-unsecured-green-bonds-302318389.html
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