Bill C-315

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

Sponsor

Alistair MacGregor  NDP

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

Status

Outside the Order of Precedence (a private member's bill that hasn't yet won the draw that determines which private member's bills can be debated), as of Feb. 14, 2023

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Summary

This is from the published bill. The Library of Parliament often publishes better independent summaries.

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.

Elsewhere

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

Canada Pension Plan Investment Board ActRoutine Proceedings

February 14th, 2023 / 10:05 a.m.
See context

NDP

Alistair MacGregor NDP Cowichan—Malahat—Langford, BC

moved for leave to introduce Bill C-315, 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 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.

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