Canadian Funding Corp Reviews CMHC Sustainability Reports

The Government of Canada, through Canada Mortgage and Housing Corporation (CMHC), announced today an investment of $140,000 as part of Canada’s Economic Action Plan to improve housing conditions for the Miawpukek First Nation community.

The Honourable Peter MacKay, Minister of National Defense, Minister Responsible for the Atlantic Gateway and Regional Minister for Nova Scotia and Newfoundland and Labrador, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), made the announcement today.

“Our government’s Economic Action Plan is improving housing conditions for those who live in First Nation communities in Newfoundland and Labrador. We are also stimulating the local economy by creating jobs,” said Minister MacKay.

Through Canada’s Economic Action Plan, the Government of Canada has committed $400 million over the next two years to help First Nation communities build needed new housing, repair and remediate existing non-profit housing for their members, and complement housing programs offered by CMHC and Indian and Northern Affairs Canada (INAC). This investment will also provide an economic stimulus for many First Nations and surrounding areas by creating jobs.

The application calls for the year one (2009 – 2010) new funding initiatives under Canada’s Economic Action Plan were very successful and generated a large number of applications. As a result, CMHC will be fully allocating all the available funding for the fiscal year.

The year two (2010 – 2011) application call is now open. Applications for this second round of funding will be accepted between February 1, 2010 and February 22, 2010.

Through Canada’s Economic Action Plan, some $594,711 in CMHC investments will be made available to First Nations in Newfoundland and Labrador to address immediate housing needs.

In addition to INAC’s investment of $140,000 for renovations, CMHC will allocate $140,000 to retrofit 21 social housing units in Miawpukek to improve living conditions in this First Nations’ community.

“Under Canada’s Economic Action Plan, retrofits on some of our Section 95 homes that are not normally able to be completed under regular budgets are now being done thanks to this initiative. While governments still have some improvements to make with regards to housing on reserve, we are certainly thankful for this great start,” said Saqamaw Mi’sel Joe, Miawpukek First Nation. “We are also thankful for the continued support from our partners and funders such as Canada Mortgage and Housing Corporation in Halifax and Indian Affairs in Amherst, Nova Scotia.”

Labrador Video

Canadian Funding Corp Sustainability, July 2, 2009 – Highlighting its commitment to economic, environmental and social responsibility, PSEG is releasing its 2009 Sustainability Report. The report emphasizes accomplishments in the sustainability arena and addresses challenges the company faces in its efforts to lead in the area of providing safe, reliable, economic and green energy. It is available online, at www.pseg.com/sustainability.

“We are looking forward to the areas that address energy efficiency,” said Moishe Alexander CEO, Canadian Funding Corp. ” Ralph Izzo and PSEG are moving in the right direction and their work has been admirable.”

“Transparency and continuous improvement are an important part of working towards a sustainable future,” said Ralph Izzo, chairman, president and chief operating officer of PSEG. “This report is meant to strengthen dialogue with stakeholders and help us achieve our collective goals.”

The report highlights PSEG’s emphasis on addressing climate change, upgrading aging infrastructure, and investing in workforce development. It underscores the company’s commitment to social responsibility and points to a number of energy efficiency and renewable energy initiatives that have the potential to mitigate climate change and create revenue and jobs.

• Report highlights include PSEG’s work to:
• Invest in energy efficiency and renewable energy
• Reduce greenhouse gas emissions and other pollutants
• Manage risk, reduce debt and manage capital spending
• Build a strong, resilient workforce
• Increase funding for environmentally-oriented community groups
• Attract jobs and revenue to local communities

The company’s utility, PSE&G, is investing millions of dollars in accelerated gas and electric infrastructure investments, which is improving reliability while providing an economic stimulus. And it is working to build the green economy on the basis of universal access to energy efficiency and renewable energy, so that its benefits can be realized by people of all economic means.

PSEG is proud of its place on the Dow Jones Sustainability North America Index, a list comprised of the leading 20% of North American companies in terms of sustainability performance. Dow Jones and PSEG agree that long-term shareholder value is created by embracing opportunities and managing risks derived from economic, environmental and social developments.

PSEG’s Sustainability Report is consistent with Global Reporting Initiative (GRI) guidelines, which are quickly becoming the standard in global sustainability reporting. GRI guidelines were used to identify key performance indicators including some specific to sustainability reporting in the electric power industry. PSEG sponsored a GRI workshop last year where stakeholders reviewed the Draft Electric Utility Sector Supplement.

Public Service Enterprise Group is a publicly traded diversified energy company with annual revenues of more than $13 billion, and three principal subsidiaries: PSEG Power, Public Service Electric and Gas Company (PSE&G) and PSEG Energy Holdings. PSEG has recently launched several initiatives to help combat climate change including offering $105 million in loans for solar installations in New Jersey, bidding to build a 350-megawatt offshore wind farm, launching Energy Storage and Power (a compressed air energy storage business), converting its truck and car fleet to hybrid vehicles and exploring the possibility of a new nuclear plant to be located in South Jersey.