PSP Investments Partners With WSP to Launch a Comprehensive Climate Analysis of Over 3 Million Hectares of Timberland and Farmland
PR96933
MONTREAL, July 11, 2022 /PRNewswire=KYODO JBN/-
-- Project supports PSP Investments' commitment to accelerate a reduction in
the greenhouse gas intensity of its Natural Resources portfolio and optimize
its carbon sink potential.
The Public Sector Pension Investment Board (PSP Investments), one of Canada's
largest pension investment managers, has partnered with world-leading
engineering and climate consultancy group WSP to conduct a detailed climate
analysis of its Global Natural Resources ("NR") portfolio.
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The analysis, which will be conducted alongside PSP Investments' local
operating partners, covers more than 3 million hectares of farmland and
timberland on more than 400 individual properties, across six countries. It
will span a wide variety of crops including timber, tree nuts, vineyards,
fruit, grain, cotton and animal protein.
Key objectives
The first objective of the analysis is to establish a portfolio-wide baseline
of PSP Investments' NR greenhouse gas emissions (Scope 1 and 2) using
farm-level data. This information will support the development and
implementation of a decarbonization roadmap to reduce greenhouse gas emissions
and establish science-based transition plans for portfolio companies.
The second objective will be to determine the sequestration capabilities of PSP
Investments' NR assets in different carbon pools (e.g., biomass carbon and soil
organic carbon). This work will leverage academic studies, third-party expert
knowledge, and on-the-ground experience of local management teams, to develop
robust methodologies and determine appropriate data sources to consistently
quantify and report biogenic carbon dioxide removals and storage.
The WSP climate analysis will seamlessly integrate into PSP Investments'
participation in a pilot program, the Farmland Management Standard, led by
Leading Harvest (
), a non-profit organization focuses on sustainable agriculture. The Farmland
Management Standard, a third-party assurance program, aims to standardize
sustainability measurement and reporting across agriculture and food production.
Marc Drouin, Senior Managing Director and Global Head of Natural Resources at
PSP Investments, said: "As a long-term investor and one of the leading global
investors in agriculture and timber, we are highly committed to the continuous
improvement of our sustainable farming practices around the world. Farmland and
forestry assets carry significant potential to support global climate
mitigation and adaptation efforts, including through their carbon sequestration
potential. This ground-breaking project with WSP will give us the detailed,
farm-by-farm information we need to help our platforms map out a path to global
net-zero."
Mel de Jager, Vice President, Climate Change, Resilience & Sustainability at
WSP, said: "For WSP, the opportunity to work with a global organization like
PSP Investments, which operates across such a broad range of crops, timber
species and geographies, is unique and exciting. Through this work, not only
will we be able to help PSP Investments and its partners fully understand the
footprint of their greenhouse gas emissions, but we will have a real
opportunity to advance knowledge of carbon sequestration on agricultural lands".
Committed to sustainability
The analysis follows the launch of PSP Investments' inaugural Climate Strategy
(
) and builds on its longstanding commitment to reduce greenhouse gas emissions
through best-in-class, sustainable farming and timber management practices.
About PSP Investments
The Public Sector Pension Investment Board (PSP Investments) is one of Canada's
largest pension investment managers with $230.5 billion of net assets under
management as of March 31, 2022. 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 Twitter (
) and LinkedIn (
).
About WSP
As one of the world's leading professional services firms, WSP exists to
future-proof our cities and environment. We provide strategic advisory,
engineering, and design services to clients in the transportation,
infrastructure, environment, building, power, energy, water, mining, and
resources sectors. Our 55,000 trusted professionals are united by the common
purpose of creating positive, long-lasting impacts on the communities we serve
through a culture of innovation, integrity, and inclusion. Sustainability and
science permeate our work. WSP derived about half of its $10.3B (CAD) 2021
revenues from clean sources. The Corporation's shares are listed on the Toronto
Stock Exchange (TSX: WSP). To find out more, visit wsp.com/en-CA (
)
Media Contacts: Maria Constantinescu, PSP Investments, Tel.: +1 (514) 218-3795,
media@investpsp.ca; Andrew Macklin, WSP, Tel.: +1 (289) 835-2536,
media_canada@wsp.com
SOURCE PSP Investments
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