NDP fighting to end CPP Investments violating human, labour and environmental laws « Canada’s NDP
OTTAWA – NDP MP Alistair MacGregor (Cowichan-Malahat-Langford) has tabled a bill that would force the Canada Pension Plan to invest only in companies that do not violate human rights or environmental laws.
MacGregor’s re-introduced bill, Bill C-315, would amend the Canada Pension Plan Investment Board Act (CPPIB). It was seconded by MP Peter Julian (New Westminster-Burnaby).
“Everyone deserves to know that their money is being invested soundly, and into organizations that aren’t hurting people or destroying our planet,” said MacGregor. “But as it stands now, that’s not the case. Global conglomerates that would, are breaking the law receive funding from your pension. It’s wrong – yet the Liberals and Conservatives both have let the CPPIB go unchecked.”
The CPP Investment Board (CPPIB) is a multi-billion-dollar enterprise that manages the CPP’s funds. Right now, people’s pensions are invested in weapons and corporate military firms, massive carbon polluters and companies identified as major human rights violators.
In the last parliament, the Liberals and Conservatives joined together to vote against better oversight for how the fund is invested. When left to their own devices – it’s clear, the Liberals and Conservatives will always stand with their ultra-wealthy friends instead of Canadians.
“The CPPIB is actively allowing billions of dollars workers have contributed to be used to subsidize companies causing environmental calamity and human suffering,” added MacGregor. “And the Liberal government can’t keep taking a look-the-other way approach. We can deliver pensions with very high returns without investing in human rights violators.
“With climate change disasters and military conflict causing unspeakable suffering around the globe, it is obscene that our pensions are helping bad actors to thrive and prosper beyond belief. That’s why New Democrats have been fighting to end this absurd practice and will keep working until you know your pension is being invested in socially and environmentally responsible ways.”