Releases annual Sustainable and Responsible Investing Report outlining ESG initiatives across investment teams
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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
Source:- Canada NewsWire
City makes investment in water and waste as part of $2.3B capital plan – Winnipeg Sun
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Chairperson of the City’s Water and Waste, Riverbank Management and the Environment committee, Coun. Brian Mayes (St. Vital) said in a statement on Tuesday he wants to see a reduction in sewage spills into rivers “with a $180 million commitment over the next six years.”
In a statement, the city said its capital investment plan will also invest $117 million in water main renewals, $117 million in sewer main revitalization over the next six years, and $39 million towards residential water meter renewal.
Environmental investments, the city explained, will contribute to the protection of Lake Winnipeg through upgrades to the North End Sewage Treatment Plant (NESTP), which they say are vital to future development in Winnipeg.
In September, council voted unanimously to endorse a request from the province to transfer $321.24 million of federal funds from the Transit Stream to the Green Infrastructure Stream under the Investing in Canada Infrastructure Program (ICIP) in support of upgrades to the NESTP.
The city said its decision hinged on the provincial government providing its share of $267.7 million towards the upgrade.
Water and Waste 2021 budget report facts:
Number of complaints about raw sewer backups 2017: 687 2019: 1,000
Number of complaints about water taste and odour 2017: 205 2019: 133
Number of water quality tests conducted 2017: 66,734 2019: 63,952
Kilometers of sewer inspected and cleaned 2017: 124 2019: 157
Number of industrial waste tests conducted 2017: 41,522 2019: 64,361
Investing in a sustainable future – Kaleido introduces its Sustainable Investment Policy – Canada NewsWire
QUEBEC CITY, Dec. 1, 2020 /CNW Telbec/ – Kaleido, the pioneer in education savings, is introducing a new responsible and sustainable investment strategy this December with its new Sustainable Investment Policy. One financial action at a time, Kaleido is working to build a brighter future.
“Sustainable investment means more than just investing in environmentally responsible firms,” says Isabelle Grenier, President and CEO of Kaleido. “We’re proud to say that 100% of our asset managers consider environmental, social, and governance factors—ESG criteria—when choosing what securities to invest in. We have an enormous responsibility as asset managers because every choice counts!”
ESG investing prioritizes organizations that create lasting value while making positive contributions on important social and environmental issues. It’s a philosophy that goes hand-in-hand with Kaleido’s work in education savings. After all, our goal is to build value over the years so our families can use their investments for their children’s postsecondary studies.
Kaleido also advocates for best practices in sustainable investment along with other national leaders in the field as an associate member of Canada’s Responsible Investment Association (RIA).
“We are committed to staying ahead of the curve. Our portfolio managers are already taking positions in favor of workplace safety and greenhouse gas reduction, for example. Our Sustainable Investment Policy is one more step towards our goal to create a brighter future for our youth,” says Grenier.
As always, Kaleido is driven by the conviction that all children can achieve their full potential when given the means. To give future generations the same chance, it is both logical and vital to invest in companies and initiatives that are working toward that goal.
Kaleido helps families in Quebec and New Brunswick give their children a leg up on future success. Every day more than 100 employees and as many representatives create brighter opportunities for youth through education savings, parent support, and insurance solutions.
Kaleido has been a pioneer in education savings since 1964. Over the years the organization has issued $993 million in educational assistance payments and savings refunds to benefit more than 227,000 young people. Kaleido has $1.7 billion in assets under management.
To learn more, visit kaleido.ca/en and follow us on social media.
SOURCE Kaleido Growth Inc.
For further information: Patrick Pedneault, Media Relations, [email protected], 418-651-8977, ext. 2312
BMO to exit oil and gas investment banking in the US – BNN
Bank of Montreal is winding down its U.S. oil and gas investment banking business and will focus on assets in Canada going forward, becoming the latest financial institution to cut ties with America’s beleaguered shale industry.
BMO said it has made “the financial decision for an orderly wind-down of our non-Canadian investment and corporate banking energy business.” Going forward, the company said by email, its capital markets energy business will be focused on Canada.
The company is eliminating about 50 positions in its investment banking group as part of the exit that was announced to staff on Monday, according to a person with direct knowledge of the situation who asked not to be identified because the information isn’t public. A handful of corporate bankers will manage BMO’s U.S. oil and gas loan book, the person said.
BMO is the latest bank to halt investment banking tied to U.S. oil and gas explorers, which even before the pandemic were facing pressure after years of generating meager returns. The move didn’t appear to be related to ESG concerns plaguing fossil fuel companies. America’s shale industry has been swept up in a wave of consolidation in recent months as the pandemic slashes oil demand, drags down prices and forces low-premium mergers. That follows years of lackadaisical M&A activity in the oil patch.
On Tuesday, BMO reported gross impaired loans in its U.S. oil and gas portfolio of $457 million at the end of its fiscal fourth quarter, compared with only $93 million for the industry in Canada and other countries.
BMO’s U.S. oil and gas loan book was about $7 billion as of July 31, making up half of its overall oil and gas loans, according to a company presentation.
–With assistance from Derek Decloet.
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