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Canadian Investors Endorse Sustainable Finance

Business Wire



Reading Time: 4 minutes

Institutional investors welcome new report from Canada’s Expert Panel
on Sustainable Finance

TORONTO–(BUSINESS WIRE)–#ClimateChange–Institutional investors are endorsing sustainable finance and welcoming
a new
from Canada’s Expert Panel on Sustainable Finance.

The Expert Panel’s report includes fifteen recommendations to support
the growth and development of sustainable finance in Canada. Sustainable
finance refers to capital flows, risk management activities, and
financial processes that incorporate environmental and social factors as
a means of promoting sustainable economic growth and the long-term
stability of the financial system.1

The report has been welcomed by the Responsible Investment Association,
a network of financial professionals and investment organizations
representing more than C$12 trillion in assets under management.

“Prudent investors are always mindful of big changes that are happening
in the market, and climate change is one of the biggest drivers of
change in the global economy today,” said Dustyn Lanz, CEO of the
Responsible Investment Association. “Investors need reliable information
and a clear policy framework to better understand how climate change and
other societal challenges could impact their portfolios. They also need
a stable financial system in which to operate. The Expert Panel’s report
marks an important step forward on all of those fronts.”


The Co-operators Group Ltd.
“Climate change is the defining
issue of our times. It has and will continue to impact the financial,
social and environmental prosperity of current and future generations.
As risk experts, we cannot turn a blind eye,” said Rob Wesseling,
President and CEO of The Co-operators Group Limited. “Our mission is to
provide financial security for Canadians and their communities, and
therefore we must engage on topics that risk their security. We fully
support the findings of the Expert Panel on Sustainable Finance,
believing that Canadian financial institutions play a pivotal role in a
smart transition to a sustainable, low-carbon economy.”

University of Toronto Asset Management Corporation
“We fully
support the final report of the Expert Panel on Sustainable Finance, and
we strongly believe in the benefits of integrating ESG considerations
into our investment decisions,” said Daren M. Smith, President and Chief
Investment Officer of University of Toronto Asset Management
Corporation. “In order to do this, we need high quality, reliable data,
and the panel’s recommendation to establish a Canadian Centre for
Climate Information and Analytics would be an innovative step in this
regard. Like the panel, we believe ‘climate change opportunity
and risk management need to become business-as-usual in financial
services, and embedded in everyday business decisions, products and
.’ In our view, this is just smart investing.”

Addenda Capital
“Addressing the long-term impacts of climate
change and other sustainability challenges urgently requires courageous
leadership from the Canadian business community,” said Roger Beauchemin,
President and Chief Executive Officer of Addenda Capital. “The Expert
Panel has delivered 15 recommendations that would help the financial
sector further embed climate change and other sustainability
considerations into everything we do. We call on our peers to join us in
embracing these recommendations.”

NEI Investments
“We’ve long considered it our duty as
responsible investors to help clients build a more sustainable future on
the path to achieving their goals,” said Frederick M. Pinto, Senior Vice
President and Head of Asset Management with NEI Investments. “The
recommendations from the Expert Panel provide a strong foundation for
doing that, with the potential for new investment opportunities and risk
management tools. We intend to support and participate in their
implementation in whatever ways make sense for our clients, their
communities, and for Canada.”

RBC Global Asset Management
“Climate risk is one of the most
pressing issues of our time, affecting almost all sectors and
industries,” said Melanie Adams, VP & Head, Corporate Governance &
Responsible Investment with RBC Global Asset Management. “We
congratulate Canada’s Expert Panel on Sustainable Finance on its
comprehensive report and in particular, its endorsement of thoughtful,
consistent and comparable climate-related disclosures to enable
investors to properly assess the climate-related risks and opportunities
faced by companies.”

AGF Management Ltd.
“There’s never been more evidence that
sustainability can create long-term value for shareholders, while also
contributing to a better environment, healthier communities and good
corporate governance practices,” said Kevin McCreadie, Chief Executive
Officer and Chief Investment Officer of AGF Management Limited. “As a
leader in the development of sustainable investing initiatives, a
sustaining member of the Responsible Investment Association (RIA) and
signatory to the UNPRI, we continue to support the growth and
development of sustainable finance in Canada through our participation
in developing standards and best practices within our industry.”

Desjardins Group
“As Canada’s leading cooperative financial
group, Desjardins is proud to contribute to Canada’s sustainable finance
market and was pleased to offer input to the Expert Panel on Sustainable
Finance,” said Gregory Chrispin, Executive Vice-President, Wealth
Management and Life and Health Insurance with Desjardins Group.
“Desjardins has been offering responsible investment funds to its
members and clients since 1990, an offer that has been evolving ever
since to better meet investors’ needs. We firmly believe that
sustainable finance is an important lever to Canada’s sustainable

About the Responsible Investment Association
The Responsible
Investment Association (RIA) is a Canadian network of more than 300
institutional investors and investment professionals who practice and
support responsible investing. The RIA’s institutional members
collectively manage more than $12 trillion in assets. To learn more
about the RIA, please visit

1 Government of Canada (2018). Interim Report of the Expert Panel
on Sustainable Finance.


Media Enquiries
Nick Buccheri, Manager, Communications and
Digital Media, RIA
(416) 461-6042 x5

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Business Wire

Bermuda Government, Industry Group Heads to Toronto

Business Wire



Reading Time: 2 minutes

HAMILTON, Bermuda–(BUSINESS WIRE)–#Bermuda–Bermuda Finance Minister Curtis Dickinson leads a delegation of
government, regulatory and industry representatives to Toronto next week
to highlight Bermuda’s close links to Canada and opportunities for
bilateral trade and investment.

The delegation will take part in a
one-day multi-industry forum
, hosted by the Bermuda Business
Development Agency (BDA) Wednesday, June 19 at The Ritz-Carlton Toronto,
and also attend scheduled business development meetings around the city.
Featuring informative panel discussions, thought-leadership sessions,
and networking opportunities for investors and businesses interested in
learning more about the island, the forum is the sixth in a series of
overseas multi-industry showcases, following successful events in
London, New York and Miami over the past two years. It is the first in

“We’re looking forward to meeting civic leaders, media, investors and
industry executives during the forum and related meetings,” said BDA CEO
Andy Burrows. “The aim is to increase awareness of Bermuda as a
gold-standard international financial centre and underscore our
jurisdiction’s historic and mutually beneficial relationship with
Canadian markets.”

The Consul General of Canada in New York, Phyllis Yaffe, will help
launch the forum with a fireside chat-style conversation with Minister
Dickinson. Another highlight of the day will be a keynote presentation
by Lucia Gallardo, a fintech entrepreneur who has partnered with the
United Nations to leverage blockchain systems to help resettlement of
refugees, among other projects.

Industry sessions include participants from more than 30 Bermuda-related
entities, among them, AMBIKA, Aon, Appleby, ArcTern Ventures, ASW Law,
AXA XL, the Association of Bermuda Insurers & Reinsurers (ABIR); Bennett
Jones, the Bermuda Insurance Management Association (BIMA), Bermuda
Monetary Authority (BMA), Bermuda Tourism Authority (BTA), Butterfield
Bank, ChainThat, Conyers, CryptoScan, Deloitte, Estera Services,
Exponential Ventures, EY, Fasken, Insurance Bureau of Canada (IBC),
KPMG, Kroll Bond Rating Agency, MQ Services, Outlier Canada, PwC, Quest
Management Services, RGAx, SALT Lending, and Shyft Network.

Canada is one of Bermuda’s most significant economic partners, with
two-way trade between the two nations amounting to USD$2.6 billion in
2017, and $37 billion in mutual assets and investments. Bermuda supports
an estimated 25,000 jobs in Canada, including 15,000 from multi-national
companies in Bermuda and their Canadian affiliates and represents
Canada’s fifth-largest export market in trade and services; only the US,
UK, Germany and France are greater Canadian export markets.

To register for the free, one-day forum, go to:


The BDA encourages direct investment and helps companies start up,
re-locate or expand their operations in our premier jurisdiction. An
independent, public-private partnership, we connect you to industry
professionals, regulatory officials, and key contacts in the Bermuda
government to assist domicile decisions. Our goal? To make doing
business in Bermuda smooth and beneficial.


Rosemary Jones
Head of Communications &
278-6558 or 441 337-4696

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Business Wire

LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Apple, Inc. To Contact The Firm

Business Wire



Reading Time: 3 minutes

NEW YORK–(BUSINESS WIRE)–Faruqi & Faruqi, LLP, a leading national securities law firm, reminds
investors in Apple, Inc. (“Apple” or the “Company”) (NASDAQ:AAPL) of the
June 17, 2019 deadline to seek the role of lead plaintiff in a federal
securities class action that has been filed against the Company.

If you invested in Apple stock or options between November 2, 2018
and January 2, 2019
and would like to discuss your legal rights, click
There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at
or at 212-983-9330 or by sending an e-mail to

The lawsuit has been filed in the U.S. District Court for the Northern
District of California on behalf of all those who purchased Apple common
stock between November 2, 2018 and January 2, 2019 (the “Class Period”).
The case, City of Roseville Employees’ Retirement System v. Apple
Inc., et al.,
No. 19-cv-2033 was filed on April 16, 2019.

The lawsuit focuses on whether the Company and its executives violated
federal securities laws by failing to disclose that: (1) the U.S.-China
trade war had negatively impacted demand for iPhones and Apple’s pricing
power in greater China; (2) due to Apple discounting the cost of
replacement batteries to make up for the Company’s prior conduct of
intentionally degrading the performance of the batteries in older
iPhones, the rate at which Apple customers were replacing their
batteries in older iPhones, rather than purchasing new iPhones, was
negatively impacting Apple’s iPhone sales growth; (3) as a result of
slowing demand, Apple had slashed production orders from suppliers for
the new 2018 iPhone models and cut prices to reduce inventory; and (4)
defendants’ decision to withhold unit sales for iPhones and other
hardware, which was a metric relevant to investors and their view of the
Company’s financial performance, was designed to and would mask declines
in unit sales of the Company’s flagship product.

On January 2, 2019, after the close of trading, Apple disclosed that,
for the first time in 15 years, Apple would miss its prior quarterly
revenue forecast amid falling iPhone sales in China, its third-largest
market after the United States and Europe. The Company announced first
quarter fiscal 2019 revenues of only $84 billion, far below the expected
range of $89 billion to $93 billion the Company had announced just eight
weeks earlier on November 1, 2018. The Company also admitted that in
addition to macroeconomics in the Chinese market, the price cuts to
battery replacements a year earlier to fix the Company’s prior
surreptitious conduct had hurt iPhone sales.

On this news, the Company’s stock price fell from $157.92 per share on
January 2, 2019 to $142.19 per share on January 3, 2019—a $15.62 or
9.96% drop.

The court-appointed lead plaintiff is the investor with the largest
financial interest in the relief sought by the class who is adequate and
typical of class members who directs and oversees the litigation on
behalf of the putative class. Any member of the putative class may move
the Court to serve as lead plaintiff through counsel of their choice, or
may choose to do nothing and remain an absent class member. Your ability
to share in any recovery is not affected by the decision to serve as a
lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding
Apple’s conduct to contact the firm, including whistleblowers, former
employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is
Faruqi & Faruqi, LLP (
Prior results do not guarantee or predict a similar outcome with respect
to any future matter. We welcome the opportunity to discuss your
particular case. All communications will be treated in a confidential


685 Third Avenue, 26th Floor
York, NY 10017
Attn: Richard Gonnello, Esq.
(877) 247-4292 or (212) 983-9330

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Business Wire

Three Finalists Selected Following GA-ASI’s Blue Magic Belgium Event

Business Wire



Reading Time: 2 minutes

PARIS–(BUSINESS WIRE)–Three finalists have been selected from GA-ASI’s Blue Magic Belgium
event with the goal of supporting GA-ASI and the development of MQ-9B
SkyGuardian Remotely Piloted Aircraft (RPA) for Belgium. The three
Belgian companies selected are AIRobot, ALX Systems, and Hexagon.

AIRobot, a company based at DronePort in Sint Truiden, Belgium, focuses
on developing drone performance equipment for easy, precise and safe
professional operations, while specializing in Artificial Intelligence
(AI) for processing hyper-spectral imagery. ALX Systems is an Unmanned
Aircraft System (UAS) solution provider based in Liège, Belgium and
specializing in AI for processing Full Motion Video. Hexagon’s
Geospatial division, with an office in Leuven, Belgium, specializes in
software solutions and geospatial tools for visualizing location
intelligence, such as auto-routing UAS and creating a smart digital

GA-ASI held outreach events in Belgium May 15-16 with the goal of
identifying small to medium-sized Belgian companies that can support
SkyGuardian development through cutting-edge technologies. This followed
the Government of Belgium’s approval for Belgian Defense to negotiate
acquisition of GA-ASI’s SkyGuardian to meet the nation’s RPA

“We were very impressed by the many talented companies and particularly
by the innovative concepts presented by these three finalists,” said
Linden Blue, CEO, GA-ASI.

Blue Magic Belgium was a Research and Development (R&D) event held in
two regions of Belgium. Approximately 50 related companies registered
for the event and 19 companies were selected to present their innovative
technologies to a technical panel of experts from GA-ASI. GA-ASI is
committed to placing $3 million in R&D funding with Belgium industry.
This investment will focus on high-value technological development with
small to medium-sized enterprises. The seed funds will be utilized to
develop Belgian capabilities that meet Ministry of Defense (MOD) and
industry objectives to be competitive in future European RPA programs.

About GA-ASI

General Atomics Aeronautical Systems, Inc. (GA-ASI), an affiliate of
General Atomics, is a leading designer and manufacturer of proven,
reliable Remotely Piloted Aircraft (RPA) systems, radars, and
electro-optic and related mission systems, including the Predator®
RPA series and the Lynx® Multi-mode Radar. With more than
five million flight hours, GA-ASI provides long-endurance,
mission-capable aircraft with integrated sensor and data link systems
required to deliver persistent flight that enables situational awareness
and rapid strike. The company also produces a variety of ground control
stations and sensor control/image analysis software, offers pilot
training and support services, and develops meta-material antennas. For
more information, visit

Predator and Lynx are registered trademarks of General Atomics
Aeronautical Systems, Inc.


Robert Walker
General Atomics Aeronautical Systems, Inc.
(858) 524-8101

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