Finance committee  As I explained in my earlier answer, if it's expanding the CPP roughly in its current form so the YMPE or the replacement rate... That's more or less similar to what we're doing. We're set up to do that and we would accelerate our plans to handle larger asset pools. The question,

Finance committee  Yes, exactly. That's the essence of the questions that we will respond to the committee with.

Finance committee  Well, he's referring to a defined contribution plan.

Finance committee  Sorry, I don't follow the question.

Finance committee  I think that's a valid question.

Finance committee  That's right.

Finance committee  Sir, could you just repeat what you'd like me to comment on?

Finance committee  Okay. Clearly, as I said in my opening remarks, these are all decisions for policy-makers to make. As my colleague said, there's a range of options on the table. The one that is the simplest for us to manage, in fact, would be something along those lines, which is essentially a s

Finance committee  With respect to the second part of that question about the CPP Investment Board managing the assets of distressed pension funds, clearly, that's not part of our mandate today. There is a process to change our mandate. That would require building some additional capabilities, whic

Finance committee  Thank you, Mr. Chairman. Good afternoon. My name is Don Raymond. I'm the senior vice-president of public market investments for the Canada Pension Plan Investment Board. It's nice to see you all again. With me today is my colleague, Mr. Dale, senior vice-president of communic

Foreign Affairs committee  Sure. Let me start by highlighting some of the important differences between the Norwegian petroleum fund and the CPP fund. First of all, the Norwegian fund is derived from government oil royalties and revenues and is essentially government money, whereas the fund that we manage

Foreign Affairs committee  And flowing from that governance distinction, the Government of Norway has put in place an ethics council and they have decided to screen 20 companies out of 8,000. We, on the other hand, operate at arm's length from government and have instituted a responsible investing policy t

Foreign Affairs committee  As I say, they have an ethical screening mandate. Ours is a fiduciary mandate based on risk and return. Contrary to the characterization of the member, we don't invest directly in mines in those countries. We invest in public companies who may have small operations in those count

Foreign Affairs committee  Better than walking away, yes.

Foreign Affairs committee  As I say, we do view it in a risk-return context. If we do believe the risk is too high, we will alter our investment position.