Canada-China Relations committee  We don't make the rules. That's the government's job. What we do is keep our ear to the ground so that we can consider possible options.

Canada-China Relations committee  I don't think so. As I was saying, I don't think it's up to us to intervene in such decisions.

Canada-China Relations committee  Yes, people talk about it a lot. Investors want to know that their money is being invested properly. Of course, performance and ESG criteria go hand-in-hand. The one does not exclude the other. In fact, the Caisse de dépôt et placement du Québec's sustainable investment policy h

Canada-China Relations committee  There are actually 48 depositor groups, but I couldn't name all of them. Among other things, they handle insurance funds and employee funds in the public and parapublic sectors. For example, we manage Quebec's pension plan, the RRQ, and Quebec's government and public employees r

Canada-China Relations committee  Our decision to invest in China is based on factor complementarity. Our exposure in China gives us access to an economy and sectors that are growing rapidly. As mentioned earlier, China represents 20% of global GDP and about half of global economic growth over the past 10 years.

Canada-China Relations committee  Our exposure to private markets and assets totals $4.4 billion, mainly in real estate, logistics and multi-residential, and includes private investments; it's therefore not in the belt and road initiative.

Canada-China Relations committee  No.

Canada-China Relations committee  I'd have to say no.

Canada-China Relations committee  If it has, then I wasn't there, but I'd be surprised to hear otherwise. You know that when we build our portfolio, we base our assessments on long-term performance objectives. We try to see how risks might change over the long term. So when situations like this arise, we hope th

Canada-China Relations committee  We use lists such as the MSCI China ESG Leaders index. We have some passive investments in China. However, as we mentioned, when we detect undesired investments in liquid stock exchange markets, we quickly remove them from the portfolio.

Canada-China Relations committee  We have always complied with Canadian laws and sanctions. Making laws is not our role. That falls to the government, for whatever reasons or circumstances may arise. Whenever we are informed of a new rule, we do everything possible to follow it.

Canada-China Relations committee  We will give you the relevant details, but we do comply with sanctions. These lists are part of our systematic filters, and when we can, we apply them and make changes to the portfolio. We could provide you with specific details.

Canada-China Relations committee  The purpose of our exposure in China is to provide us with a form of sectoral diversification in areas that we don't find in other geographical locations. As I mentioned in my address, we decided to place an emphasis on liquid markets for our investments in China, which allows us

Canada-China Relations committee  I'd like to return to one of the subjects we discussed this evening. Portfolio diversification enables us to diversify risks, no matter what the region or sector. We try to mitigate eventualities. An ad hoc event doesn't change how the portfolio is structured. When we see events

Canada-China Relations committee  Mr. Chair, diversification is our main emphasis in building our portfolio. Needless to say, when the geopolitical situation changes, so does the risk and performance profile for these investments. Our intention is to be a world leader in ESG criteria and investment, whether envir