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House Hansard - 160

44th Parl. 1st Sess.
February 14, 2023 10:00AM
Context: House Hansard - 160 - Feb/14/23
Mr. Alistair MacGregor (Cowichan—Malahat—Langford, NDP)
moved for leave to introduce Bill C-315, An Act to amend the Canada Pension Plan Investment Board Act (investments). He said: Mr. Speaker, I am very pleased and honoured to rise in the House today to introduce my private member's bill, which would amend the investment policy standards and procedures of the Canada Pension Plan Investment Board to ensure that no CPP funds are invested in any entity that has committed human, labour or environmental rights violations. My bill would also ensure pension funds are not invested in any arms or munitions of war prohibited under international law or in any company guilty of corruption. The Canada Pension Plan Investment Board manages over $500 billion in assets, and it is mandated to invest in the best interests of CPP contributors and beneficiaries by maximizing returns without undue risk of loss. It is important to note that my bill would not change this mandate. The Canada pension plan is an important part of our retirement system, but Canadians expect that its investments are not contributing to human misery around the world. By amending section 35 of the Canada Pension Plan Investment Board Act to specify human, labour and environmental rights considerations, this bill would do just that. I would like to thank the incredible member for New Westminster—Burnaby for seconding this bill.
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