e-2615 (Economy and finance)
- Canada Pension Plan
- Canada Pension Plan Investment Board
- Fossil fuels
- Pensions and pensioners
Original language of petition: English
Petition to the Government of Canada
- The Canada Pension Plan Investment Board (CPPIB) manages $400 billion of Canadians pension savings;
- Following the financial challenges of 2008-09 and when governments rescued commercial banks from bankruptcy by “bailout,” using the credit worthiness of each country, central bankers have been searching for an alternative to taxpayer “bailout”; and
- Current global conditions suggest there will be a growing desire to “bailout” the fossil fuel industry, dependent economies and lenders to that industry.
Government response tabled
Response by the Deputy Prime Minister and Minister of Finance
Signed by (Minister or Parliamentary Secretary): The Honourable Chrystia Freeland
The Canada Pension Plan Investment Board (CPP Investments) was set up by the federal and provincial governments to prudently invest Canada Pension Plan (CPP) funds. CPP assets managed by CPP Investments are strictly segregated from government funds. While CPP Investments is accountable to federal and provincial Ministers of Finance, it operates at arm's length from Canadian governments. CPP Investment's decisions are not influenced by political direction, regional, social or economic development considerations, or any non-investment objectives.
CPP Investments is recognized internationally as a leading example of sound pension plan management. It has an independent, highly qualified Board of Directors and operates with a commercial, investment-only mandate. Accordingly, it invests CPP assets with a view to achieving a maximum rate of return, without undue risk of loss.
According to statements made by CPP Investments, it believes that companies that effectively manage Environmental, Social and Governance (ESG) factors are more likely to create financial value over the long term, improving investment performance. It considers ESG matters when evaluating opportunities, making investment decisions, managing investments and engaging with companies to seek improvements in business practices and disclosure. For example, CPP Investments was a founding signatory and abides by the United Nations-supported Principles for Responsible Investment, which provide guidance for incorporating ESG factors.
- Open for signature
- June 5, 2020, at 9:56 a.m. (EDT)
- Closed for signature
- October 3, 2020, at 9:56 a.m. (EDT)
- Presented to the House of Commons
November 4, 2020 (Petition No. 432-00212)
- Government response tabled
- January 25, 2021
Only validated signatures are counted towards the total number of signatures.
|Province / Territory||Signatures|
|Newfoundland and Labrador||8|
|Prince Edward Island||3|