PSP Investments has adopted processes and activities in order to integrate ESG factors into the investment process. When making investment decisions within public and private asset classes, PSP Investments assesses a broad range of financial and ESG factors that may have an impact on a company’s competitiveness, risk profile, resilience and, ultimately, long-term viability. In analyzing the risks and opportunities inherent to any investment, PSP Investments looks to identify, monitor and mitigate ESG factors that are, or could become material to long-term financial performance. The materiality of ESG factors varies across companies, industries, geography and time. Therefore, the precise approach to integrating these factors into the investment decision-making process will vary by asset class and investment strategy. The level of integration and steps to integrate ESG factors will vary depending on the investment strategy.