We are into the last week of this sitting of Parliament in Ottawa and our local MP is going to re-introduce a private members bill this week.
Cowichan-Malahat-Langford MP Alistair MacGregor said Bill C-431 seeks amendments to legislation that, if adopted, would mean that Canada Pension Plan funds would no longer be invested into businesses that seemingly operate without an ethical compass.
“If you asked the average Canadian about them about their public pension funds being invested in these entities, they would probably say, ‘no, I don’t support that,'” said MacGregor. “My bill is going to make sure that the investment strategy of the Canada Pension Plan Investment Board is changed so that we no longer invest in those entities that are guilty of those human, labour, and environmental transgressions.”
MacGregor said this legislation is aimed at making sure that the Canada Pension Plan funds that Canadians pay are actually being invested into reputable companies.
“The funds that are not necessary to pay beneficiaries, those are invested by the investment board, it’s called the Canada Pension Plan Investment Board and we have done our research on where our investments are and we’ve actually compiled quite a list of questionable investment companies that have been involved in human rights abuses, labour rights abuses, and environmental rights abuses.”
Once this session is over, MacGregor says he’s looking forward to spending some time in his constituency.