Dealer use only IA Clarington Investments. Dealer use only Canada, China and ESG What are the prospects for a Canada-China relationship grounded in a

Dealer use only

IA Clarington Investments

2 Dealer use only

Canada, China and ESG

What are the prospects for a Canada-China relationship grounded in a strong ESG foundation?

3 Dealer use only

Dermot Foley CFAVancity Investment Management Ltd. Strategic Analyst

IA Clarington Inhance Monthly Income SRI Fund

IA Clarington Inhance Conservative SRI Portfolio

IA Clarington Inhance Balanced SRI PortfolioIA Clarington Inhance Growth SRI PortfolioIA Clarington Inhance Canadian Equity SRI ClassIA Clarington Inhance Global Equity SRI Class

4 Dealer use only

With his depth of knowledge in labour relations, energy stocks and climate change impacts and solutions, Dermot Foley takes a lead role in analyzing the environmental performance, social responsibility and corporate governance (ESG) of companies for the Inhance portfolios. Dermot brings over 20 years of experience in social and environmental advocacy, research and policy analysis.


5 Dealer use only

As a key member of the Vancity Investment Management investment team, his role is to assess business practices, management systems and treatment of ESG risk. Dermot is also responsible for determining and executing shareholder engagement strategies on behalf of the Inhance funds. Dermot holds the Canadian Investment Manager designation from the Canadian Securities Institute and has completed all three levels of the CFA program to achieve the CFA designation.


msci.com©2012. All rights reserved. msci.commsci.com

Investing in China - a Canadian perspective on ESG risk & opportunity

Vancouver, 17 June 2013

Dana SasareanSenior Oil & Gas Analyst, MSCI ESG Research

msci.com©2012. All rights reserved.

ESG issues and event risk in China

7Source: Thomson Financial

Oct-11 Jan-12 Apr-12 Jul-125

10

15

20

25

30HKD

China Mengniu Dairy (CCC)

Food Safety Scandal

Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-122

3

4

5

6

7

8

9HKD

China Railway Construction (CCC)

Corruption Scandal

Product Safety Concern

Apr-10 May-10 Jun-10 Jul-103

4

5

6

7HKD

Severe Toxic Discharge

Zijin Mining Group (CCC)

ESG Controversies

Source: MSCI ESG Research

0%

4%

8%

12%

16%

Corr

uptio

n &

Inst

abili

ty

Toxi

c Em

issio

ns &

W

aste

Prod

uct &

Ser

vice

Q

ualit

y

Hea

lth &

Saf

ety

Busin

ess E

thic

s

Labo

r Man

agem

ent

Fina

ncia

l Sys

tem

In

stab

ility

Biod

iver

sity

& L

and

Use

Fina

ncia

l Pro

duct

Sa

fety

Fina

ncin

g En

viro

nmen

tal I

mpa

ctSu

pply

Cha

in La

bor

Stan

dard

s

Chem

ical

Saf

ety

Priv

acy

& D

ata

Secu

rity

Acce

ss to

Fin

ance

Antic

ompe

titive

Pr

actic

es

% of constituents with ESG controversies


China vs. Canada: Ratings Distribution

Source: MSCI ESG Research, as of 12 June 2013

8

AAA AA A BBB BB B CCC0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

8%

14%

19%21% 20%

12%

6%

MSCI IMI Canada MSCI ESG China Coverage MSCI World Index

MSCI ESG IVA Rating

% o

f con

stitu

ents


China vs. Canada: Selected ESG Key Issues

Carbon Emissions

Biodiversity & Land Use

Supply Chain Labor Standards

Product Safety and QualityHealth and Safety

Corruption & Instability

Corporate Governance

MSCI ESG Canada Cov-erage

Source: MSCI ESG Research, as of June 2013


Industry-level: Anti-corruption Performance

10

Source: MSCI ESG Research


Company-level: Carbon Emissions, Health & Safety

China Railway Construction Corporation LimitedChina Coal Energy Company Limited

China Railway Group LimitedChina Communications Construction Company Limited

PetroChina Company LimitedAluminum Corporation of China Limited

China Petroleum & Chemical CorporationChina Gas Holdings Ltd.

China Vanke Co.,LtdJiangxi Copper Company LimitedAgile Property Holdings Limited

China Resources Land LimitedPan American Silver Corp.

Barrick Gold CorporationFirst Quantum Minerals Ltd.

Goldcorp Inc.SNC-Lavalin Group Inc.

Yamana Gold Inc.Canadian National Railway Company

Eldorado Gold CorporationKinross Gold Corporation

Talisman Energy Inc.Teck Resources Limited

Agnico-Eagle Mines LimitedAgrium Inc.

Bankers Petroleum LtdDundee Precious Metals Inc.

Enbridge Inc.EnCana Corporation

MEG Energy CorpPotash Corp of Saskatchewan Inc.

Precision Drilling CorporationPrimero Mining Corp

0 5 10 15 20 25 30

Average Number of Fatalities2008-2012

(employee & contractor)

Air China LimitedChina COSCO Holdings Company Limited

MMG LimitedCNOOC Ltd

China Mobile LimitedPan American Silver Corp.

Talisman Energy Inc.TransCanada Corporation

Canadian Natural Resources LimitedCanadian Oil Sands Limited

Bonavista Energy TrustPenn West Petroleum Ltd.

Pengrowth Energy CorporationAlgonquin Power & Utilities Corp.

Keyera Corp.Methanex Corporation

Resolute Forest Products Inc.Crescent Point Energy Corporation

ARC Resources Ltd.Domtar Corporation

Enerplus CorporationSuncor Energy Inc.

Canadian Pacific Railway LimitedEnCana CorporationBaytex Energy Corp.

Canadian National Railway CompanyImperial Oil Limited

Husky Energy IncBarrick Gold Corporation

Brookfield Office Properties Inc.Enbridge Inc.

Centerra Gold Inc.Osisko Mining Corporation

Kinross Gold CorporationTeck Resources Limited

Cenovus Energy Inc

0 500 1000 1500 2000 2500

Average GHG intensity2009-2011

tCO2/USD 1 million revenue

Source: MSCI ESG Research, Corporate Reporting

ChinaCanada


Drivers for change - Growing ESG awareness in China Proportion of survey respondents identifying issues as very big problem

12

4%

9%

11%

13%

22%

17%

12%

9%

13%

21%

13%

28%

31%

12%

41%

39%

72%

8%

18%

23%

23%

24%

25%

26%

28%

28%

32%

33%

33%

36%

41%

48%

50%

60%

0% 20% 40% 60% 80% 100%

Electricity shortages

Traffic

Condition for workers

Education

Unemployment

Health care

Crime

Corrupt business people

Safety of medicine

Old age insurance

Water pollution

Quality of manufactured goods

Air pollution

Gap between rich and poor

Food safety

Corrupt officials

Rising prices

2012

2008

Source: Pew Research Center’s Global Attitudes Project


Number of Internet Users (millions)

40% of users under age 35

46 min. per day on social media

~66% use social media to ‘get news‘ and ‘share news’

Source: McKinsey, Nielsen Media

0

100

200

300

400

500

600

Drivers for change - Growing ESG awareness in China

13

Workers Involved in Labor StrikesMay 2010 – May 2013

Source: chinastrikes.crowdmap.com


Regulatory requirements are on the rise

Environmental Protection

Renewable Energy Development

Greenhouse Emission Control

Pilot Carbon Emissions Rights Trading Scheme

Food Safety Food Products

Retail

Chemicals

Software & ITServicesTelecommunications

The Provisions on Environmental Administration of New Chemical Substances (China 'REACH')

The Standard for Personal Information Protection in Information Security Technology and Public and Business Services

Amendment to the Anti-Corruption Regulation

Amendment of anti-bribery provisions to the Criminal Law

Affected Industries

Communications EquipmentComputers & Peripherals

Household DurablesElectronic Equipment & Instruments

Oil & GasMetals & Mining

ChemicalsConstruction Materials

Real Estate M&DMachinery

TransportationBuilding Products

Utilities

All Industries

Policy/ Regulatory Development with ESG Elements

12th

Fiv

e-Y

ear

Pla

n (

2011-2

015)

The Administrative Measures on the Control of Pollution Caused by Electronic Information Products (China 'RoHS')

The Management Regulations for Recycling and Disposing of Consumer Electronics and Electronic Waste (China 'WEEE')


Key Takeaways

The relevance of Chinese companies’ ESG performance is bound to increase

Overcoming ESG challenges and managing risk is crucial for improving performance in key areas such as corruption and health & safety

Regulatory shifts reflect increased liability but also opportunity for organic & sustainable growth

15

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Notice and DisclaimerNotice and Disclaimer This document and all of the information contained in it, including without limitation all text, data, graphs, charts (collectively, the “Information”) is the property of MSCl Inc. or its

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The MSCI ESG Indices use ratings and other data, analysis and information from MSCI ESG Research. MSCI ESG Research is produced by ISS or its subsidiaries. Issuers mentioned or included in any MSCI ESG Research materials may be a client of MSCI, ISS, or another MSCI subsidiary, or the parent of, or affiliated with, a client of MSCI, ISS, or another MSCI subsidiary, including ISS Corporate Services, Inc., which provides tools and services to issuers. MSCI ESG Research materials, including materials utilized in any MSCI ESG Indices or other products, have not been submitted to, nor received approval from, the United States Securities and Exchange Commission or any other regulatory body.

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© 2012 MSCI Inc. All rights reserved.RV Jan 2012

wrausche

please find updated disclaimer on marcomms sharepoint

The global leader in natural gas engines.

Powering transportation.

Driving change.

The global leader in natural gas engines.

Marla BrockDirector, Strategic RelationshipsJune 17, 2013

Forward Looking Statements

This presentation contains forward-looking statements that are based on the beliefs of Westport’s

management and reflect Westport’s current expectations. Investors are cautioned that all forward-looking

statements involve risks and uncertainties that could cause actual results to differ materially from those

expressed in these forward-looking statements, including, without limitation, Westport’s ability to develop

viable fuel systems; Westport’s ability to provide the capital required for research, product development,

operations, and marketing; product development, production and commercial launch delays; changing

environmental regulations; Westport’s ability to attract and retain key personal and business partners;

competition from conventional diesel fuelled engines; and Westport’s ability to protect its intellectual

property.

These factors should be considered carefully and investors should not rely on any forward-looking

statements. Investors are encouraged to review Management’s Discussion and Analysis and the Risk

Factors section in Westport’s most recently filed Annual Information Form and filings with securities

regulators for a more complete discussion of factors that could affect Westport’s future performance. We

undertake no obligation to update or revise any forward-looking statements, whether as a result of new

information, future events or otherwise, except as required by law. All figures are in U.S. dollars unless

otherwise stated.

19

In China & Throughout the Developing World,

Cleaner Technologies are Critical to Sustainability

20

China is the leading GHG emitter in the world, with pollution levels increasing.

Traditional technologies have failed to balance China’s economic trajectory with environmental sustainability.

Developments in fuel efficiency technology will only partially offset projected pollution.

China’s need for energy security underscores the demand for alternative fuels and clean technology.

21

Vehicle exhaust is the major cause of air pollution in China today.

A long-term sustainability strategy means better, cleaner technology.

Perceived cost and infrastructure barriers are under attack.

Upfront capital expenditure and payback periods are reconciled over the

long term.

Technologies that enable alternative fuels address pollution abatement and

fuel efficiency.

A Critical First Step:Greening China’s Transportation Sector

• Refuse and vocational trucks, shuttle buses, transit buses,

motor coaches, and delivery vans powered by reliable,

high-performance natural gas engines are working on

roads in China and carrying people every day.

• With the global medium- and heavy-duty vehicle market

projected to grow nearly 8% between 2009 and 2014, a

rapidly-urbanizing China is a significant commercial

opportunity.

22

Balance Risks & Opportunities with the Right Partnerships

Continuous advances in technologies are prompting commitments by industry

leaders.

For China and developing markets, solutions must be technically feasible and

commercially available.

It is critical to anticipate and defeat barriers to full scale adoption of these

technologies.

Strategic partnering accelerates adoption and deployment.

Weichai Westport Inc. (“WWI”), a joint venture between Westport (35% interest),

Weichai Holding Group Co. Ltd.,("Weichai Holding") (40% interest) and Hong Kong

Peterson (CNG) Equipment Ltd. ("Hong Kong Peterson") (25% interest) to focus on the

Chinese market. WWI develops, manufactures and sells advanced, alternative fuel

engines and parts that are widely used in city bus, coach and heavy-duty truck

applications in China or exported to other regions globally. WWI's facility in China

currently has an annual production capacity of 40,000 engines.

Westport’s Clinton Global Initiative Commitment in Rural India

Vancouver, June 2013

ESG perspectives: Asia, ChinaJaideep Singh Panwar

Manager, Research Products, Singapore

Covering Asia

Businesses in Asia | Asian businesses

June 2013

October 2012

What does China’s ESG Leadership Transition Mean for ESG?

Asian companies in perspective

Peer performance of Asian companies with those of other regions*

Percentile scores

Percentage of companies in a market within a percentile range

* Data from Sustainalytics platform; June 2013

0-33%

33-66%

66-100%

60.5%

23.7%

15.9%

20.9%

27.9%

51.3%

30.5%

38.8%

30.7%

30.6%

31.7%

37.8%

Asia, n=693Europe, n=1170North America, n=1255South and Central America, n=180

Chinese companies in perspective

Percentile scores

Percentage of companies in a market within a percentile range

Peer performance of Chinese companies with those of other markets in Asia

* Data from Sustainalytics platform; June 2013

0-33%

33-66%

66-100%

75.3%

19.1%

5.6%

68.9%

17.4%

13.6%

50.5%

29.9%

19.6%

51.2%

31.7%

17.1%

38.6%

29.8%

31.6%

63.5%

22.6%

13.9%

China n=162

Hong Kong n=132

India n=107

Singapore n=41

South Korea n=114

Taiwan n=137

Connecting with Asian companies

Demonstration of an appreciation of relevant rules and regulations

Tying in conversations with national (and the Party’s) goals and priorities

Best practice conversations often welcomed, but there’s resistance to ‘copy-pasting’ Western models

Issues such as ‘human rights, as it is holistically interpreted, may stall conversations

A lack of response may not mean that your message has had no effect

‘ESG’ is a novel term; regional differences

‘Soft’ and relationship approach; sustainability leaders frustrated by lack of investor action

Questionnaire fatigue

Appreciation of operational contexts – flexibility in your ESG approach

Thank You!For more information please contact:

Jaideep Singh PanwarManager, Research Products

Phone: +65 3158 3797Email: [email protected]: www.sustainalytics.com

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Disclaimer

Copyright © 2013 Sustainalytics. All rights reserved. No portion of this material may be reproduced in any form without the expressed, written

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Dealer use only IA Clarington Investments. Dealer use only Canada, China and ESG What are the prospects for a Canada-China relationship grounded in a