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Canada. PSP Investments’ green assets increased to $64.9BN in fiscal 2024: report
The Public Sector Pension Investment Board has $64.9 billion invested in green assets, compared to $48.9 billion in fiscal 2023, according to the investment organization’s latest sustainability report.
It found in addition to green assets, PSP Investments has roughly $11.5 billion in transition assets, defined as investments that have committed to make a substantial contribution to the low-carbon transition through the establishment of public targets and disclosure.
Among PSP Investments’ portfolio companies, reported Scope 1 and Scope 2 greenhouse gas emissions data for assets in-scope increased to 62 per cent, compared to 54 per cent in fiscal 2023.=
Regarding its active ownership initiatives, PSP Investments voted at 5,670 shareholders’ meetings on 56,638 resolutions and, where appropriate, it engaged with 712 listed companies on key sustainability-related issues.
The investment organization also delivered more than 30 hours of sustainability training to more than 300 of its employees. It also convened four gatherings of its internal, multi-asset class group, focused on knowledge sharing and the implementation of PSP Investments’ climate strategy.
“The launch of our sustainability research platform was an important step in reinforcing our sustainability capabilities,” said Herman Bril, managing director and head of sustainability and climate innovation at PSP Investments, in a press release. “It equips us with the knowledge required to navigate the complex and uncertain landscape of long-term investing and it helps ensure that we are well prepared to identify and capitalize on sustainability-related opportunities.”
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