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Decentralized Democracy

House Bill

Bill C-315

44th Parl. 1st Sess.
February 14, 2023
An Act to amend the Canada Pension Plan Investment Board Act (investments)
  • Bill C-315 is an amendment to the Canada Pension Plan Investment Board Act. It states that the investment policies of the board of directors should prohibit investments in entities that engage in certain practices. These practices include human, labor, or environmental rights violations, production of prohibited weapons, and corruption. This amendment aims to promote responsible business practices and hold accountable those who violate human rights and environmental standards. The bill will come into effect once a specific date is determined by the Governor in Council.
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SteelmanSpren in Favour

  • Steelman argument in favor of Bill C-315: This amendment to the Canada Pension Plan Investment Board Act is crucial in promoting responsible business practices and safeguarding the investments made by the Canadian government on behalf of its citizens. By prohibiting investments in entities that have committed human, labor, or environmental rights violations, produced prohibited weapons, or engaged in acts of corruption, this amendment ensures that the Canada Pension Plan fund is not supporting or benefiting from unethical or illegal practices. Investments made by the Canada Pension Plan have the potential to significantly impact environmental and social outcomes, and it is essential that these investments align with the values and principles of the Canadian government and its citizens. By considering environmental, social, and governance factors in investment decisions, the board of directors can effectively contribute to the promotio

SteelmanSpren Against

  • Steelman Argument: Opponents of this bill argue that while it is important to promote responsible business practices and hold entities accountable for human rights and environmental violations, the proposed amendment to the Canada Pension Plan Investment Board Act is not the appropriate solution. They contend that the primary objective of the Canada Pension Plan is to ensure the retirement income security of Canadians, and any restrictions on investments may compromise the fund's ability to generate optimal returns. These opponents argue that investment decisions should be based solely on financial considerations in order to maximize returns and ensure the fund's sustainability. They argue that imposing restrictions on investments based on environmental, social, and governance factors may limit the pool of potential investments, leading to lower returns and negatively impacting the retirement income of Canadians. Furthermore, oppo
House First Reading
  • Feb. 14, 2023, 10:07 a.m.
  • Passed
House Second Reading
  • Feb. 14, 2023, 10 a.m.
  • In Progress
  • Read