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e-2966 (Economy and finance)

Initiated by Karen Rodman from Toronto, Ontario

Original language of petition: English

Petition to the House of Commons

  • the Canada Pension Plan fund is managed by the Canada Pension Plan Investment Board (CPPIB) and is presently at a value of more than $400 billion;
  • Many of our funds have been and are being invested in companies with questionable track records such as weapons manufacturing, environmental pollution, human and labour rights’ abuses, and in those that are contributing towards climate change;
  • The people of Canada expect these investments to be carried out with certain principles in mind, including ethical business practices, and the protection of environmental, labour and human rights; and
  • The investment policies, standards, and procedures of the Canada Pension Plan must take these factors into account to ensure its long-term financial health.
We, the undersigned, Residents of Canada, call upon the House of Commons to support MP Alistair MacGregor's Bill C-231, An Act to amend the Canada Pension Plan Investment Board Act (investments), ensuring a proactive approach of due diligence is taken by the CPP Investment Board to ethically invest Canada Pension Plan funds while maintaining its overall mandate of achieving a maximum rate of return without undue risk of loss.

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 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
November 4, 2020, at 9:49 a.m. (EDT)
Closed for signature
March 4, 2021, at 9:49 a.m. (EDT)
Presented to the House of Commons
Alistair MacGregor (Cowichan—Malahat—Langford)
March 11, 2021 (Petition No. 432-00655)
Government response tabled
April 26, 2021
Photo - Alistair MacGregor
New Democratic Party Caucus
British Columbia