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PSP Investments’ 2023 Sustainable Investment Report outlines progress on top sustainability priorities

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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.

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CCTV+: When French Elegance Meets Chinese Style | The Romantic Tale between the Porcelain Capitals of China and France

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BEIJING, Oct. 22, 2024 /PRNewswire/ — This summer, the global spotlight once again focused on the romantic city of Paris, where the 33rd Summer Olympic Games were successfully held and concluded. Before the opening ceremony of the Paris Olympics, the French National Olympic and Sports Committee collected four Chinese blue and white porcelain artworks, and said that the set of blue and white porcelain art not only demonstrates the exquisiteness of traditional Chinese craftsmanship, but also reflects the global resonance of the Olympic spirit.

Limoges, a city in the south of France, is one of the oldest cities and is known as the “Porcelain Capital” of France. Like Jingdezhen, China’s porcelain capital, Limoges showcases the charm of porcelain in many ways, making it a part of life and art, and it also committed to the inheritance of ceramic craftsmanship and culture.

On the streets of Limoges and on the campus of Jingdezhen Ceramic University, there stands a pillar made of blue and white porcelain. This set of artworks, created in 2018, is the joint work of teachers and students of École Nationale Supérieure d’Art Limoges and Jingdezhen Ceramic University.

When French elegance meets Chinese style, and when Chinese skills encounters French artists, a romantic melody of porcelain resonates between the “porcelain capitals” of China and France. Jingdezhen and Limoges, two ancient cities, have produced exquisite ceramic works in different time and background, continuously attempting to understand each other’s cultures and engaging in cultural exchanges. This mutual attraction and interest rooted in historical memory offers endlessly fascinating and witness the inclusiveness and mutual learning between China and France.

In 2010, Jingdezhen and Limoges became sister cities, with ceramic culture serving as the common language. A year later, École Nationale Supérieure d’Art Limoges and Jingdezhen Ceramic University exchanged art students, who became young ambassadors for cultural and artistic exchanges between the two cities and two countries.

Friendship, which derives from close contact between peoples, holds the key to sound state-to-state relations. This year marks the 60th anniversary of diplomatic relations between China and France. The two ancient porcelain capitals have forged a bond through ceramics, connecting China and France, communicating with each other, and will write a new chapter in Sino-French cultural and artistic exchanges.

Video – https://mma.prnewswire.com/media/2536695/video.mp4 

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Marintec Innovation Conference 2024 – Charging the Future: Focus on Alternative Energy Sources

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HONG KONG, Oct. 22, 2024 /PRNewswire/ — The maritime industry is on the point of undergoing a radical transformation, and the Marintec Innovation Conference is at the forefront of this evolution, charting a course towards a sustainable, zero-carbon future. While previous conferences have focused on the technological aspects of shipbuilding to meet decarbonisation targets, 2024 will be the year of “Alternative Energy and Fuels Contribute to Low Carbon Maritime”, promising to be a beacon of innovation and collaboration, lighting the way for the industry’s green transition.

Set against the vibrant backdrop of Shanghai, the conference will take place at the Shanghai Renaissance Zhongshan Park Hotel on 12 – 13 December 2024. This event is not just another conference; it’s a convergence of the brightest minds and leading organisations dedicated to pioneering alternative energy sources and low-carbon solutions.

Glimpse into the Future. Envision a world where ships sail the seas powered by renewable energy sources that leave no carbon footprint. This vision is now within reach, thanks to the pioneering discussions and innovations that will be showcased at Marintec Innovation 2024. The conference will feature pivotal sessions such as:

  • Review and Outlook: Dive into the latest advancements in renewable energy sources and their seamless integration into maritime operations.
  • Sailing Efficiency – Shipowner’s Perspective: Hear firsthand from leading shipowners about practical strategies to enhance operational efficiency.
  • Industry Chain Support: Discover the collaborative efforts across the maritime value chain that are driving these innovations forward.

Voices of Innovation. The lineup of speakers reads like a Who’s Who of the maritime world. The conference will feature insights from industry giants like ABB, ABS, the China Association of the National Shipbuilding Industry, CSSC Shanghai Marine Energy Saving Technology, CSSC Silent Electric System (Wuxi) Technology, DNV, Headway Technology, the International Chamber of Shipping (ICS), the International Windship Association (IWSA), Jotun, Kongsberg Digital, Trelleborg Marine Systems, Ulstein, Wikborg Rein Advokatfirma, and many more. Their collective expertise will provide attendees with a unique opportunity to learn from the leading figures in the field.

Collaborative Effort. We are honored to have the support of esteemed organisations such as the China Association of the National Shipbuilding Industry, the China State Shipbuilding Corporation, the Chinese Society of Naval Architects & Marine Engineers, the Norwegian Business Association, and Charity Partner, MercyShips. We would also like to express our gratitude to the Ministry of Foreign Affairs of Denmark, the Danish Export Association, the Norwegian Maritime Exporters, and the UK’s Department of Business and Trade for their valuable support. These collaborations demonstrate a shared commitment to a sustainable maritime future.

Innovation on Display. In addition to the compelling sessions and expert speakers, the event will feature sponsors like Bestway, Shanghai Moury Marine Equipment, Shanghai SIBO Automation, Shanghai Tonghe Marine Equipment, Zhenjiang Tongzhou Propeller, and many others showcasing their cutting-edge innovations. This is set to be one of the most momentous maritime gatherings of the year.

Networking Opportunities. Beyond the sessions, Marintec Innovation 2024 offers networking activities designed to foster collaboration and build lasting connections. Networking Refreshments and Luncheons will provide attendees with the opportunity to engage with industry leaders and peers, while the Closing Dinner will offer a relaxed setting for more in-depth discussion and networking.

Call to Action. The time to act is now. Industry stakeholders must unite and commit to investing in and adopting alternative energy technologies. By working together, we can navigate the challenges and lead the maritime industry into a sustainable, zero-carbon future. This conference is not just an event; it’s a movement towards a greener, cleaner world for future generations.

Join Us. Registration is now open, we encourage industry professionals, researchers, and enthusiasts to register early to secure their spot at this landmark event. For more information and to register, please visit www.marintecchina.com.

Marintec Innovation Conference Background:

Following its inaugural edition in 2017 during Marintec China, the Marintec Innovation Conference will be held in December of even-numbered years at the Shanghai Renaissance Zhongshan Park Hotel. Organised by Informa Markets and SSNAME, Marintec Innovation continues to provide a unique platform for fostering interactions on diverse findings and advancements in the maritime industry through collaboration and knowledge sharing.

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Marintec Innovation’s Themes
2017: Cruise Shipbuilding at Marintec China
2018: International Marine Intelligent Energy Efficiency Technology
2020: The Fourth Industrial Revolution at Sea
2022: Defining the Path to Decarbonisation
2024: Alternative Energy and Fuels Contribute To Low-carbon Maritime

Organisers of Marintec China:

Marintec China is organised and managed by Informa Markets and Shanghai Society of Naval Architects & Marine Engineers (SSNAME).

Informa Markets

Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. Our portfolio is comprised of more than 550 international B2B events and brands in markets including Healthcare & Pharmaceuticals, Infrastructure, Construction & Real Estate, Fashion & Apparel, Hospitality, Food & Beverage, and Health & Nutrition, among others. We provide customers and partners around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, specialist digital content and actionable data solutions. As the world’s leading exhibitions organiser, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year. For more information, please visit www.informamarkets.com

Shanghai Society of Naval Architects and Marine Engineers (SSNAME)

Shanghai Society of Naval Architecture and Marine Engineers (SSNAME), founded in early 1951, is the first scientific and technological society in the field of shipbuilding and marine engineering of the People’s Republic of China. SSNAME currently has 5,000 individual members and more than 60 group members. It has 5 working Committees, 11 Specialized Committees and 3 Representative offices. As an important non-governmental scientific and technological society with high reputation and influence in the international field of shipbuilding and marine engineering, SSNAME has been committed to promoting the progress of shipbuilding and marine engineering technology and international exchanges and cooperation. SSNAME has established closely cooperative relations with 14 well-known overseas maritime engineering societies, such as SNAME, RINA, STG, JSNAOE, SNAK and so on. It is the initiator and first chairman of the Pan-Asian Association of Maritime Engineering Societies (PAAMES) and is also a member of the International Standing Committee of the World Maritime Technology Conference (WMTC). The “Xin Yixin Ship and Marine Engineering Science and Technology Innovation Award” founded by SSNAME has become an important award for scientific and technological talents. SSNAME organizes many academic exchanges, popular science and scientific and technological publication every year. For more information, please visit www.ssname.com.cn.

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Xinhua Silk Road: Annual Conference of Financial Street Forum 2024 spotlights financial cooperation and development opportunities

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BEIJING, Oct. 22, 2024 /PRNewswire/ — Themed on “Trust and Confidence – Work Together to Promote Financial Openness, Cooperate for Shared Economic Stability and Growth”, the Annual Conference of Financial Street Forum 2024 concluded on Sunday.

During the event, Chinese and foreign participants have conducted in-depth discussions on current economic and financial hot topics in an attempt to enhance mutual trust, deepen win-win cooperation and share development opportunities.

Many foreign institutions expressed their willingness to further promote investment in China at this year’s conference.

Both China and Germany are facing social challenges such as aging problem, said Markus Kobler, the CFO and member of the executive board of DWS Group, adding that the two sides can establish an open financial market, expand bilateral investment, strengthen financial and asset management cooperation, and jointly develop strategic emerging industries, such as green technology and transportation automation, to achieve win-win results. 

Noting how to deepen the financial sector’s role in serving the real economy, Weng Qiwen, director of China Centre for Promotion of SME Development, said that the new round of industrial revolution requires matching financial innovation and financial reform.

According to Weng, it is necessary to cultivate the “craftsman spirit” of the capital market and guild long-term capital into the financial market in an attempt to advance the development of new quality productive forces.

Regarding the current financial challenges related to new technologies, new applications and new risks, Li Yang, chairman of National Institution for Finance & Development, believes that the correct financial function is the basis for preventing financial risks.

According to Li, more efforts should be made to further balance the relationship between functionality and profitability, deal with the relationship between lifting financial repression and preventing excessive financialization, continue to reduce circulation costs and financing costs, and meet the diversified financing needs of the national economy. 

Original link: https://en.imsilkroad.com/p/342711.html

Photo – https://mma.prnewswire.com/media/2536691/Xinhua_Silk_Road.jpg 

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