Public Accounts Committee on Oct. 28th, 2024

[Andrée-Lise Méthot]

No.

[Rick Perkins, Conservative, South Shore—St. Margarets, NS]

How about Pyrowave?

[Andrée-Lise Méthot]

No.

[Rick Perkins, Conservative, South Shore—St. Margarets, NS]

Okay. You do have a number here where you and the companies you invested in received at least $10 million to $20 million of green slush fund money while you were on the board.

[Andrée-Lise Méthot]

I'm sorry, I misunderstood the interpretation. Can you help me?

[The Chair, Conservative, John Williamson]

Mr. Perkins, repeat the question.

[Rick Perkins, Conservative, South Shore—St. Margarets, NS]

Between the yes and no answers that you gave, there were a number of yes answers here. Of those yes answers, it adds up to about $20 million, I believe, of SDTC money that went to those companies while you were on the board. Is that correct?

[Andrée-Lise Méthot]

We reviewed approximately 250 files during the period I was in the position.

Of the programs named, I declared a conflict of interest for four companies, and I recused myself. These companies received $10.4 million in funding from SDTC.

[Rick Perkins, Conservative, South Shore—St. Margarets, NS]

I take it the answer is yes—

[Andrée-Lise Méthot]

We're 10% shareholders, on average.

[Rick Perkins, Conservative, South Shore—St. Margarets, NS]

—based on the confirmation you gave earlier.

[Andrée-Lise Méthot]

I'd like to clarify—

[Rick Perkins, Conservative, South Shore—St. Margarets, NS]

I'm not asking for a conflict of interest explanation of how the board operated. Based on your answers of yes or no, you have about $20 million of companies that you had investments in while you were on the board.

[Andrée-Lise Méthot]

That $20 million number is wrong, Mr. Perkins. I would ask you to listen to my answer.

[The Chair, Conservative, John Williamson]

Very good. That is the time, please.

We will come back to you, I'm sure, Mr. Perkins.

Next we have Ms. Yip.

You have the floor for six minutes, please.

[Jean Yip, Liberal, Scarborough—Agincourt, ON]

Thank you, Chair.

Thank you for coming today and for providing documents ahead of time. That's much appreciated.

Is there any testimony or clarification on the previous questions that you would like to add?

[Andrée-Lise Méthot]

I would like to say that members of this committee have made many statements that are completely false and verifiable. For example, someone said that I funded Annette Verschuren's projects. I was not an investor in Annette Verschuren's projects at all. I even submitted the Canada Infrastructure Bank memo, which shows that I was absent that day. That is completely false.

Someone also said that Steven Guilbeault was the largest shareholder of that capital, but Mr. Guilbeault holds no shares in that capital. People are trying to connect two things: funds that were received entirely appropriately by our portfolio companies over the years and my tenure on the SDTC board. That's not true. I always recused myself. I've always declared my interests, as was just demonstrated to Mr. Perkins.

Even when there was a potential conflict of interest, but ultimately no conflict of interest, on the day of the vote on the COVID‑19 measures, I always declared that conflict. I've always been extremely honest and extremely clear on that. That's one thing I would like to say, Ms. Yip.

[Jean Yip, Liberal, Scarborough—Agincourt, ON]

Thank you.

We heard from PCO appointments last week who confirmed that you were in fact not a GIC appointee but were appointed by the SDTC foundation.

Can you confirm this?

[Andrée-Lise Méthot]

I can confirm that it's actually the ecosystem. The foundation members are representatives of the ecosystem. The ecosystem recommended that I be part of the council. It was the chair, Jim Balsillie, who appointed me in 2016 on the board's recommendation.

[Jean Yip, Liberal, Scarborough—Agincourt, ON]

Have you donated to any federal political party in the last 25 years?

[Andrée-Lise Méthot]

That takes me way back to when I was young. Federally, over the past 25 years, I don't think I have. There is only one publicly known link. I worked in the office of Lucien Bouchard, who was the leader of a PQ government.

[Jean Yip, Liberal, Scarborough—Agincourt, ON]

You stated in front of the INDU committee that you declared all conflicts of interest, whether real, apparent or potential, and that you chose to recuse yourself from every decision.

Can you confirm that with us today?

[Andrée-Lise Méthot]

I can confirm that. The case at issue is the one related to COVID‑19. We had received a recommendation from Mr. Vandenberg, a member of the major firm Osler, that we could remain because there was no list of projects and it was an omnibus measure for all SDTC files.

[Jean Yip, Liberal, Scarborough—Agincourt, ON]

Setting aside the COVID funding, how many times would you say you had to recuse yourself for real, apparent and potential conflicts? I'd like specific numbers, please.

[Andrée-Lise Méthot]

According to my records and excluding the case related to COVID‑19, I would say a total of 32 times. As to real conflicts of interest, it was four times. That is very clear. We were investors at the time, including myself personally. The other conflicts pertained to files under review, as I said.

We receive about 1,200 files per year. It is our team members who do the preliminary review, not me. We have a mechanism included in a database. Each time, I asked for the files, and I recused myself for all of those files. There was also an exception for GHGSat, because my niece works there. That is why I also recused myself.