PSP Investments response to coronavirus COVID-19 developments

Montréal, Canada, March 14, 2020 ─ In the face of the new COVID-19 developments, the Public Sector Pension Investment Board (PSP Investments) accelerated the deployment of our global business continuity plan. We make the health and safety of our employees, their families, colleagues and local communities our first priority and concern.

The measures we have adopted over the past few weeks in preparation for a pandemic scenario include:

• Implementing a restricted travel list and pre-clearing all business travel. 
• Activating our dedicated COVID-19 global business continuity taskforce.
• Implementing protocols to pre-clear visitors prior to their arrival at any PSP office.  
• Increasing the frequency of our internal cleaning schedules.
• Encouraging employees to take advantage of our remote working guidelines and to make use of our technology to conduct meetings virtually.   
• Keeping all communication channels open throughout the organization and issuing regular and timely internal updates, reminders and precautions. 

The health and safety of our people and their families is of utmost importance to us. As the World Health Organization confirmed coronavirus COVID-19 as a pandemic, we renewed our commitments to provide a healthy and safe working environment and to act as a responsible corporate citizen. Consequently, on March 12, 2020 we took the decision to temporarily close and deep-clean our offices.

Starting next week, we will roll out the next phase of our business continuity plan that includes the implementation of our critical service/resources policy across PSP Investments’ offices.

All of our offices will be officially open to employees whose activities cannot be performed remotely. The balance of our global workforce will work remotely until further notice. These measures will allow us to maintain the social distancing necessary to protect each other and our local communities while continuing to conduct business. PSP Investments is a long-term investor and a financially stable player in the global financial system. We have AAA credit ratings, we are cash flow positive, and our leverage is low.  

We acknowledge and thank our extended teams across all geographies for responding to an unprecedented situation with utmost professionalism and for doing the right thing. Due to their dedication and high work ethics, investment activities continue across the globe as we reaffirm our values and culture.