Foreign Affairs committee  I'd just highlight that there are a range of principles that are designed to operate at the corporate level and certain ones that are designed to operate at the investor level. I'm not that familiar with this; I'm guessing it operates at the corporate level. Things like the UN PR

Foreign Affairs committee  First of all, it's important to recognize that from a large global investors perspective, we invest with a policy of diversification that includes, as I said, 2,900 companies. We're not selecting each individual company. You can think of it as getting passive exposure, just as

Foreign Affairs committee  Mr. Chairman, I would be happy to respond to some of the comments. First of all, the CPP Investment Board is a relatively young organization. I joined in 2001 and there were 12 people. This has been an evolutionary process in building out our capabilities. We had a socially res

Foreign Affairs committee  As I said, an independent research group within my department looks at these factors, so to the extent that there was information in there that they thought was relevant from an investment perspective, I think we would welcome that information.

Foreign Affairs committee  I think the most important thing to note about our engagement practices, as I stated in my opening remarks, is that this is a long-term strategy. We don't necessarily get results immediately. We have a team dedicated to engagement within the CPP Investment Board in my department

Foreign Affairs committee  Thank you very much, Mr. Chairman. My name is Donald Raymond and I'm the senior vice-president of public market investments at the CPP Investment Board. I'm joined by my colleague Mr. Dale, senior vice-president of communications and stakeholder relations. Thank you for the opp

Finance committee  As I said earlier, we did invest in asset-backed commercial paper, but the bank-sponsored variety, and it was only after the non-bank-sponsored market froze. So we incurred no losses, and in fact we enjoyed relatively healthy returns as a result of that. I would say this is a f

Finance committee  It's tabled in Parliament as well.

Finance committee  This is just strictly a function of the demographics and the contribution and payout rates, so in 11 years, the total contributions coming in on an annual basis equal the total benefits being paid out on an annual basis. It's not something we've chosen. That's a function of how--

Finance committee  Right.

Finance committee  I've been with the CPP Investment Board for about seven and a half years.

Finance committee  I was with Goldman Sachs in New York.

Finance committee  Not precisely; it's $117 billion in assets in the CPP fund.

Finance committee  I don't think it's a clear statement, in any event.

Finance committee  It's true that we're getting net contributions coming in for the next 11 years, but there are obviously some significant liabilities attached to all of those cash--