Canada's NDP

NDP

February 27th, 2020

NDP MP Alistair MacGregor Introduces Bill to Improve Canadian Pension Plan Investments

FOR IMMEDIATE RELEASE
February 26, 2020

NDP MP Alistair MacGregor Introduces Bill to Improve Canadian Pension Plan Investments

OTTAWA – Today, NDP MP Alistair MacGregor introduced his Private Member’s Bill C-231, which would change the investment policies, standards and procedures of the Canada Pension Plan Investment Board (CPPIB) to ensure they are in line with environmental, labour, and human rights.

“We can make good, sustainable investments that ensure Canadian pensioners are taken care of without supporting unethical companies who abuse human rights or actively destroy our environment,” said MacGregor. “Canadians are troubled when they learn about some of these investments – they don’t want to contribute to the destruction of our planet or perpetuate human misery and suffering. I'm proud to present this bill to address the concerns I’m hearing from people in my riding and across the country.”

In the past, CPPIB has invested in companies implicated in human rights abuses, arms manufacturing, massive polluters in the oil and gas sector, and, recently, in privatized American prisons that incarcerate detained migrants. MacGregor’s bill, which will be debated in parliament in the coming months, specifies that no investments may be held in companies that have performed acts contrary to ethical business practices or have committed human, labour or environmental rights violations.

“Canadians expect our Canada Pension Plan to invest responsibly– both financially and ethically – and that’s what this bill is about. Canadians from coast to coast to coast want to support industries and ventures that protect basic human rights and labour standards and don’t make the climate crisis even worse,” said MacGregor.