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An Act to amend the Canada Pension Plan Investment Board Act (investments)

This bill is from the 43rd Parliament, 2nd session, which ended in August 2021.

Sponsor

Alistair MacGregor  NDP

Introduced as a private member’s bill. (These don’t often become law.)

Status

Defeated, as of March 24, 2021
(This bill did not become law.)

Summary

This is from the published bill.

This enactment amends the Canada Pension Plan Investment Board Act to specify that the investment policies, standards and procedures established by the board of directors shall provide that no investment may be made or held in any entity that engages in certain practices.

Similar bills

C-231 (43rd Parliament, 1st session) An Act to amend the Canada Pension Plan Investment Board Act (investments)
C-431 (42nd Parliament, 1st session) An Act to amend the Canada Pension Plan Investment Board Act (investments)

Elsewhere

All sorts of information on this bill is available at LEGISinfo, an excellent resource from Parliament. You can also read the full text of the bill.

Bill numbers are reused for different bills each new session. Perhaps you were looking for one of these other C-231s:

C-231 (2022) An Act to amend the Competition Act (vehicle repair)
C-231 (2016) Fight Against Food Waste Act
C-231 (2013) An Act to amend the Canada Shipping Act, 2001 (derelict vessels and wreck)

Votes

March 24, 2021 Failed 2nd reading of Bill C-231, An Act to amend the Canada Pension Plan Investment Board Act (investments)

Canada Pension Plan Investment BoardPetitionsRoutine Proceedings

March 11th, 2021 / 10:45 a.m.


See context

NDP

Alistair MacGregor NDP Cowichan—Malahat—Langford, BC

Madam Speaker, today I am pleased to rise to present e-petition 2966, signed by people across Canada in support of my private member's bill, Bill C-231, which would amend the Canada Pension Plan Investment Board Act. The petitioners note that the current value of the Canada pension plan fund investments is over $400 billion and that many of these investments are and have been invested in companies with very questionable track records, such as weapons manufacturing and human and labour rights abuses, and are significantly contributing to climate change.

The petitioners further note that the people of Canada expect our investments to be carried out in a principled way and that the investment policy standards and procedures of the Canada Pension Plan Investment Board must take these factors into account to ensure its long-term financial health.

Seeing as Bill C-231 is having its final hour of debate tomorrow, I will take this opportunity to ask my colleagues' support so our pension investments do not in any way contribute to human misery around the world.

Canada Pension Plan Investment Board ActRoutine Proceedings

February 26th, 2020 / 3:40 p.m.


See context

NDP

Alistair MacGregor NDP Cowichan—Malahat—Langford, BC

moved for leave to introduce Bill C-231, an act to amend the Canada Pension Plan Investment Board Act (investments).

Mr. Speaker, I am very pleased and honoured to rise in the House today and introduce my private member's bill, which would amend the investment policies, standards and procedures of the Canada Pension Plan Investment Board to ensure that no CPP funds are invested in any entity that has performed acts or carried out work contrary to ethical business practices or has committed human, labour or environmental rights violations.

The Canada Pension Plan Investment Board manages over $400 billion in assets and 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. Despite its adherence to a policy on responsible investing, the CPPIB has billions of dollars of investments in companies contributing to climate change and environmental degradation, and it has previously invested in companies implicated in human and labour rights abuses.

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 specific ethical business practices and human, labour and environmental rights considerations, this bill would do just that.

(Motions deemed adopted, bill read the first time and printed)