I would start by saying that these pension funds actually should already be investing, really, on the basis of Canadian values. That was the whole point behind the ESG criteria—upholding the climate, upholding human rights and social values, upholding good governance and the rule of law. The reality is that they're not doing that, because ESG just isn't properly regulated. I think lots of the pension fund managers don't take it seriously. They consider it just to be a vehicle to make more money. That is why, ultimately, I think you need proper legislation and regulation that defines clearly what the ESG criteria are, and hold these Canadian pension funds to task when it comes to some of the investments that don't meet those criteria, particularly in China.
On November 29th, 2022. See this statement in context.