MP pushes for ethical investments for CPP
The Cowichan-Malahat-Langford NDP MP is calling on the Canada Pension Plan Investment Board to ensure investments are in line with the ethical, human rights, and environmental considerations people expect.
Alistair MacGregor said CPP Board is investing billions of dollars in the oil and gas sector.
He said the Board has also increased holdings in two private U.S. companies that run American prisons and incarcerate the majority of detained immigrants.
He said there is also significant holdings in various arms manufacturing industries and the Board has previously invested in companies implicated in human rights abuses.
MacGregor has introduced a bill that does not change the mandate of the CPP Board, but rather seeks to specify that no investments may be held in companies that have performed acts or carried out work contrary to ethical business practices or has committed human, labour or environmental rights violations.