Finance committee  Thank you, Mr. Chairman, for the chance to answer that question. In a speech given in Ottawa in mid-September, our CEO, Mr. Denison, laid out a number of facts that could be considered by policy-makers, making it very clear that policy matters are to be decided by federal and pr

Finance committee  Thank you, Mr. Chairman. I'd be pleased to answer Monsieur Mulcair's question. I think with regard to compensation, the compensation at the CPP Investment Board is the sole responsibility of the board of directors, and I think that the compensation is paid out over multi-year pe

Finance committee  Thank you, Mr. Chair. I'd be happy to do that. First of all, obviously our organization is very respectful of the views of Parliament. In June, Minister Flaherty did write a letter to all financially related crown corporations, and in that letter he asked if the compensation pri

Finance committee  First of all, Mr. Chairman, let me again give a bit of context around that answer. I would say that the board of directors of the CPP Investment Board consider the compensation framework to be totally appropriate for managing a global fund of $117 billion. I would like to give

Finance committee  There is perhaps one other thing. In the response to Minister Flaherty, where there was a comparison done between our compensation system and the G-20 principles, they were found to meet or exceed those principles, and the fact is, those are the principles that G-20 leaders are n

Finance committee  Yes, there was. It was sent to Mr. Flaherty and the other provincial finance ministers to whom we're accountable. We'd be happy to share that letter with the committee.

Finance committee  Our year-end is March 31.

Finance committee  In calendar 2008, it was minus 14%. For the year ending March 31—therefore three months later—it was just over minus 18%. In the three months since that time—

Finance committee  The three months that ended in June, after our year-end, the—

Finance committee  Yes, in April to June the fund increased by $11 billion, most of which was investment income, and it's up significantly since then to the end of September.

Finance committee  The fund was up 11% in the first quarter and it's gone up significantly since then. Those results will come out in about two weeks.

Foreign Affairs committee  Mr. Chairman, if I could just add, just to answer the member's question, you can see on our website how we would have voted on shareholder proposals, and all that is disclosed on the website. I will reiterate my colleague's point. By ourselves we may not have a significant amount

Foreign Affairs committee  Okay, thank you. I'd be pleased to answer that question. I think we engage with companies in three ways. We talked about proxy voting. I think the most powerful one has to do with coalitions of other investors. We also do direct engagement with companies. With regard to mining

Foreign Affairs committee  Thank you, Mr. Chairman. I'd be pleased to answer that. Obviously I don't think we would ignore such a determination, but we look at this really in two ways. What we hope to show the committee here this morning is that we do look at environmental, social, and governance factors

Foreign Affairs committee  As well, Mr. Chairman, there are a variety of inputs that we use. We have, as Don mentioned, an internal research function, we use external research providers, and we have discussions with NGO groups. We use a variety of inputs, but again it's just making a judgment on a risk-ret