Canada's NDP

NDP

December 1st, 2020

Ethical Investment of CPP Funds - Bill C-231

Canadians expect our Canada Pension Plan funds to be invested responsibly – both financially and ethically – and that’s what this bill is about

The Canada Pension Plan Investment Board (CPPIB) was established through an act of Parliament in 1997, and empowers its board of directors to manage the funds not needed to immediately pay beneficiaries. Presently, the fund is valued at over $400 billion.

Although the CPPIB claims to operate with Principles for Responsible Investment (PRI) to promote Environmental, Social and Governance (ESG) factors, billions of dollars from our CPP fund have been tied up in big polluters like oil, gas, and coal mining companies. These funds have also been invested in weapons manufacturing, private for-profit American prisons that detained immigrants, and companies guilty of serious human rights transgressions. As working Canadians who pay into the CPP fund, we are all, by extension, shareholders in companies contributing toward the destruction of our planet and causing human misery and suffering.

Canadians expect our Canada Pension Plan funds to be invested responsibly – both financially and ethically – and that’s what this bill is about. We can make good, sustainable investments that ensure Canadian pensioners are taken care of, without supporting companies that abuse human rights or are actively destroying our environment. That's precisely what this bill seeks to achieve.

Take action and reference material

"We can make good, sustainable investments that ensure Canadian pensioners are taken care of, without supporting companies that abuse human rights or are actively destroying our environment. By enshrining these principles through Bill C-231’s amendment to the investment policies, standards, and procedures of the CPPIB, we can do just that." -Alistair MacGregor, MP