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‘Historic’ $815M irrigation investment announced for southern Alberta agriculture – Global News

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Premier Jason Kenney was joined by other government officials on Friday for a substantial announcement for investment in the agriculture industry.

“Agriculture is the beating heart of Alberta’s economy and as global demand for agri-food products continues to grow, our producers and irrigation districts will be better positioned to meet that demand for generations to come,” Kenney said.

Through the $815 million, the province is working with eight different irrigation districts and the Canadian Infrastructure Bank to modernize irrigation infrastructure and increase water storage capacity throughout southern Alberta.

The eight irrigation districts participating in the investment include: Bow River Irrigation District, Eastern Irrigation District, Lethbridge Northern Irrigation District, Raymond Irrigation District, St. Mary River Irrigation District, Taber Irrigation District, United Irrigation District and Western Irrigation District.

Read more:
Federal government endorses Lake Diefenbaker irrigation project, calls for more consultation

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“It’s a mix between 56 modernization projects, which essentially take open water canal systems and converting them into pipelines,” said Minister of Forestry and Agriculture Devin Dreeshen.

“That will be hundreds of new kilometres of pipelines being built in the province.”

Dreeshan adds four new off-stream reservoirs are also going to be built, which he says are expected to take about four years to complete.

These projects are expected to create around 8,000 direct, indirect and construction jobs throughout their lifespan.

Water efficiency is a major focus of the projects, with the goal of allowing more acres to be irrigated without using more water. The province estimates 200,000 acres of land will receive new irrigation, benefitting a large portion of farmers.

“These 200,000 acres were just dryland farming, and now converting them into irrigated acres, it allows in the crop rotation to grow specialty crop,” Dreeshan explained.

“It’s [good] for the farmers to be able to diversify their crops.”

Read more:
Alberta announces funding for Taber Irrigation District

The investments were made by several contributors, including the province — which is investing $244.5 million from its $10-billion infrastructure plan as part of Alberta’s Recovery Plan — as well as the eight participating districts, who are putting forward a total of $143-million, and also a loan from the Canada Infrastructure Bank.

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The CIB’s $407.5-million contribution is a loan that will have to be repaid by the irrigation districts.

Gary Tokariuk, president of Alberta Sugar Beet Growers and director with the St. Mary River Irrigation District, says focusing on agricultural improvements will not only benefit farmers.

“Your high-value crops such as sugar beets, timothy, potatoes, dry beans, all require water, and the investment in that is going to see more processing facilities coming here to southern Alberta, and it just snowballs from there,” Tokariuk explains.

“The biggest thing with this announcement is it gives us water security for generations.”

The irrigation industry generates about $2.4 billion in annual labour income and supports about 56,000 jobs.

© 2020 Global News, a division of Corus Entertainment Inc.

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Stone Investment Group Limited Completes Transaction with Return on Innovation Advisors Ltd. – GlobeNewswire

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TORONTO , Oct. 19, 2020 (GLOBE NEWSWIRE) — Stone Investment Group Limited (“SIG”), confirmed the completion of the previously announced transaction between SIG and Return on Innovation Advisors Ltd., the manager of Return On Innovation Fund Inc. (the “ROI Fund”), whereby the portfolio of the ROI Fund was liquidated to cash and transferred to the Stone Growth Fund (the “Growth Fund”) in exchange for units of the Growth Fund Series R and shareholders of the ROI Fund became unitholders of the Growth Fund. The exchange ratio determines the number of units the Growth Fund will issue to shareholders of the ROI Fund for every 1 share held in the ROI Fund. The exchange ratio was based on the closing net asset value per share as of October 16, 2020 of each Series of the ROI Fund and closing net asset value per unit for the Growth Fund Series R as of October 16, 2020 as follows:

ROI FundNet Asset Value Per Share for
ROI Fund Series 1, 2, 3 and 4
Net Asset Value Per Unit of
the Growth Fund Series R
Exchange Ratio
ROI Fund – Series 1$7.4014$10.00000.7401
ROI Fund – Series 2$7.1865$10.00000.7187
ROI Fund – Series 3$7.4859$10.00000.7486
ROI Fund – Series 4$6.2598$10.00000.6260

Stone Asset Management (“SAM”) is a wholly owned subsidiary of SIG and is the trustee, manager and portfolio advisor for the Growth Fund. The Growth Fund is a mutual fund trust, and one of a family of mutual funds offered by SAM (the “Stone Funds”). The Stone Funds are distributed by prospectus throughout Canada by brokers and mutual fund dealers. SAM’s expertise ranges from servicing Canada’s retail investors and working with their financial advisors to the complexities of working directly with Family Offices, endowments and foundations. At Stone, we want our investors to sleep well, knowing they’ll have the financial resources to live well.

For more information:
Stone Investment Group Limited
Jason Stone, Investor Relations
T 647 338 1691
E jasons@stoneco.com
www.stoneco.com

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WENDEL: Tsebo's shareholders transfer their shares to the investment arms of its senior lenders in a consensual transaction – GlobeNewswire

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Tsebo’s shareholders transfer their shares to the investment arms of its senior lenders in a consensual transaction

Wendel invested in Tsebo in 2017 and contributed further capital to the company in 2019 to strengthen its balance sheet.

The transaction will also result in the settlement of a guarantee granted in 2017 in connection with the investment by B-BBEE partners in Tsebo. The transfer of the controlling shareholding to a South African consortium of financial investors and management ensures that Tsebo’s balance sheet is strengthened, it’s strong B-BBEE credentials are preserved and the business is well-positioned to grow into the future.

Wendel’s financial statements and Net Asset Value as of June 30, 2020 already reflect these transactions.

The transactions are subject to finalization of the legal documentation and to South African Reserve Bank approval and should be closed in the coming months.

About Wendel

Wendel is one of Europe’s leading listed investment firms. The Group invests in Europe, North America and Africa in companies which are leaders in their field, such as Bureau Veritas, Cromology, Stahl, IHS, Constantia Flexibles and Crisis Prevention Institute. Wendel plays an active role as a controlling or significant shareholder in these companies. We implement long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions.

Wendel is listed on Eurolist by Euronext Paris.

Standard & Poor’s ratings: Long-term: BBB, stable outlook – Short-term: A-2 since January 25, 2019

Moody’s ratings: Long-term: Baa2, stable outlook – Short-term: P-2 since September 5, 2018

Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of “Grand Mécène de la Culture” in 2012.

For more information: wendelgroup.com

Follow us on Twitter @WendelGroup

Agenda

11.04.2020

2020 Investor Day / Presentation of NAV as of September 30, 2020, and Q3 2020 trading update (publication post-market release on 11/03/2020).

03.18.2021

2020 Full Year Results – Publication of NAV as of December 31, 2020 (pre-market release).

04.28.2021

Q1 2021 Trading update – Publication of NAV as of March 31, 2021 (pre-market release).

06.03.2021

Annual General Meeting

07.29.2021

H1 2021 results – Publication of NAV as of June 30, 2021, and condensed Half-Year consolidated financial statements (pre-market release).

10.28.2021

Q3 2021 Trading update – Publication of NAV as of September 30, 2021 (pre-market release).

12.02.2021

2021 Investor Day – Meeting to take place in the morning

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Manulife Investment Management named to PRI Leaders’ Group 2020 in recognition of ‘Cutting Edge’ Responsible Investment Practices

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Releases annual Sustainable and Responsible Investing Report outlining ESG initiatives across investment teams

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TSX/NYSE/PSE: MFC  SEHK: 945

TORONTO and BOSTON, Oct. 19, 2020 /CNW/ – As sustainable investing continues to drive interest across the globe, Manulife Investment Management announced it was recently recognized in the Principles for Responsible Investment’s PRI Leaders’ Group  2020, a 10-year initiative honoring signatories at the cutting edge of responsible investment. This year, 36 signatories, including Manulife Investment Management, were recognized for demonstrating responsible investment excellence in climate reporting throughout their organization and portfolios.

“We are grateful to the PRI for recognizing our efforts in integrating climate data and analysis into our portfolios and pleased to detail our extensive sustainability initiatives across our investment teams in our Sustainable and Responsible Investing Report,” said Paul Lorentz, President and CEO, Manulife Investment Management. “Sustainability is a natural fit for our organization, given our traditional focus on risk management and investment research, and our history of sustainably operating real assets such as timber and farmland. Today, we offer a number of ways for investors to align their investments with their values, and our commitment to ESG investing deepens every year.”

Manulife Investment Management showcases its ongoing commitment to ESG analysis, research, and integration with its second annual Sustainable and Responsible Investing Report. Released today, the report covers activities in both public and private markets in sustainable asset management and showcases a holistic view of Manulife Investment Management’s sustainability-focused research capabilities, engagement activities, and asset ownership practices. The document also demonstrates concrete steps taken at the firm throughout 2019 to integrate sustainability considerations into investment decision-making. The Sustainable and Responsible Investing Report outlines Manulife Investment Management’s key areas of sustainability focus and metrics of success. Focus areas include strong governance, ESG integration, active and responsible ownership, and global collaboration across numerous platforms for broader industry effectiveness.

Highlights from private markets in 2019, pertaining to real estate, private equity and infrastructure, included formalizing a robust governance structure for its sustainable investing program, actively participating in industry associations such as Leading Harvest Sustainable Farmland Management Standard and improving Real Estate GRESB scores, earning a “Green Star” ranking in six submissions. In public markets, Manulife Investment Management advanced ESG integration and active engagement across its equity and fixed-income capabilities. As a result, Manulife Investment Management won the 2019 SDG Canadian Leadership Awards for large enterprise – Canada’s premier award for organizations and businesses doing exceptional work to integrate and advance the 17 Sustainable and Development Goals of the United Nations Global Compact.

“We’re proud of the progress we’ve made driving our sustainable and responsible investing at Manulife Investment Management as we strive to lead the industry in ESG integration practices,” said Christopher P. Conkey, CFA, global head of public markets, Manulife Investment Management. “For investors, focusing on sustainability is more important now than it has ever been; the world is running up against the limits of natural capital, which increases social and economic risks in virtually every corner of the capital markets. Sustainability and resilience are central to our clients’ objectives, to the broader set of stakeholders with whom we work, and to the communities whose lives are touched by our capital allocation decisions.”

“Responsible stewardship of our clients’ capital resides at the core of our business and culture,” added Stephen J. Blewitt, global head of private markets, Manulife Investment Management. “As sustainable investing continues to migrate from the margins of our industry to its mainstream, investor demand drives that shift. By doing the right things for the right reasons, we also aspire to be a partner of choice for clients who recognize that ESG considerations are often tied to economic ones.”

Inaugural TCFD report

As part of its 2019 Sustainable and Responsible Investing report, Manulife Investment Management included its inaugural TCFD report—which follows the voluntary disclosure framework developed by the Financial Stability Board’s Taskforce for Climate-related Financial Disclosure (TCFD). The framework sets out how businesses should disclose climate-related financial risks and opportunities within the context of their existing disclosure requirements. For Manulife Investment Management, this report offers details on the firm’s approach to climate-related sustainability governance, risk management, strategy for managing climate-related risks and opportunities, and the metrics used to manage and monitor alignment with climate-related goals.

Top Scores on PRI Assessment

Also contained in the 2019 report is Manulife Investment Management’s recently announced Principles for Responsible Investment (PRI) assessment results and rationale. Scores for 2019 included:

  • A+ for strategy and governance
  • A+ for equity integration
  • A+ for SSA fixed-income integration (sovereign, supranational, and agency debt)
  • A for real estate
  • A for equity active ownership
  • A for fixed income (corporate financial, corporate non-financial, and securitized)
  • B for infrastructure (this asset class was submitted for the first time)
  • B for private equity (this asset class was submitted for the first time)

Click here for more information about the Manulife Investment Management 2019 Sustainable and Responsible Investing Report.

About Manulife Investment Management
Manulife Investment Management is the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 17 countries and territories. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We’re committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement.

As of June 30, 2020, Manulife Investment Management had CAD$900 billion (US$660 billion) in assets under management and administration. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.

SOURCE Manulife Investment Management

 

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