FirstLight Power’s Corporate Parent Announces Joint ESG Commitment
The CEOs of Canada’s eight leading pension plan investment managers, including PSP Investments, FirstLight’s corporate parent, announced last week that they are joining forces to help shape a future defined by more sustainable and inclusive economic growth.
For the first time, the CEOs of AIMCo, BCI, Caisse de dépôt et placement du Québec, CPP Investments, HOOPP, OMERS, Ontario Teachers’ Pension Plan, and PSP Investments, together representing approximately $1.6 trillion in assets under management, have issued a joint statement, calling on companies and investors to provide consistent and complete environmental, social, and governance (ESG) information. The signatories further commit to strengthening ESG disclosure within their own organizations and to allocate capital to investments best placed to deliver long-term sustainable value creation.
“We believe a concerted ESG approach on standardized disclosures will give the industry new insight to inform risk models and investment decisions. At PSP Investments, we are proud to join this initiative.” said Neil Cunningham, President and Chief Executive Officer of PSP Investments.
The statement recognizes the ongoing impact of the COVID-19 pandemic and recent events that have highlighted long-standing inequalities revealing business strengths and shortcomings concerning social inequity, including systemic racism, environmental threats, and board effectiveness. The signatories call on companies and investment partners to seize the tremendous opportunity available at this historic moment to actively take steps to drive lasting change.
“We are inspired by this opportunity to help confront the most urgent challenges facing our global community and create more inclusive economic growth. We encourage other parties committed to our vision to join us on this journey towards a more sustainable future for all,” the statement concludes.