While the Canada Pension Plan Investment Board doesn’t believe divestment is the right path forward, it will do so if other efforts fail, chief executive officer John Graham said on a panel at the Bloomberg New Economy Forum in Singapore.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
Temasek Holdings Pte.’s CEO Dilhan Pillay took a different view on how to deal with portfolio companies. “You can’t force change because it has to come from within,” Pillay said on the same panel.
Huge vote of confidence for all companies that do not take (the scam) ESG seriously.
Poison, incompetence, sloganeering and idiocy. That is ESG.
There goes our pensions
Surely this is satire - capitalism gone woke. Who wrote this script? TheBabylonBee
Looks like its whole portfolio will get gutted, and in its stead, will be populated by idealistic corporations who double down on ESG (Environmental Sustainable Governance). Who knows what the true costs in compliance are really to have firms deem ESG to be untenable for them
Good…no one needs your investment
I also support this decision. A premium will be paid for for purchasing these ESG companies, resulting in lower expected total returns for pensions, and higher expected total returns for non ESG investors like me.
Playing politics with YOUR money! I look forward to Alberta opting out.
Keeper_Sis Unreal.
ESG is a scam. Authorities should investigate him for putting pensioner money into ESG investment scams.
TrudeauMustGo
How did that work out with FTX?
Environmental, social and corporate governance (ESG). Bureaucrats amuse theirselves with fancy sounding words and acronyms. The environmental concerns are directly related to an over developed world with too many people leaving their environmental footprint. Restless world.
Hopefully they take our return on investment seriously . Other agendas are a breach of their fiduciary duty .
Dystopia.
WEF agenda ESG being pushed to make Great Reset work.....
Headline Fixed: 'Canadas Biggest Pensions disregards mandate for stable returns and acts as political extremists'
FTX took ESG very seriously.
And that is how you collapse a pension fund. FTX had a great ESG rating!
INSANITY
ESG perhaps a well-intentioned environmental financial mechanism that is not really fit for purpose & only delays Govts putting together comprehensive plans to move to ecologically sound economies. Plans before moves! Plans are MIA!
The job of a pension plan is to get the maximum return on investment. Period. Quit virtue signalling and get back to working for plan members.
It was CPPIB who was heavily invested in SNCLavalin when Trudeau tried to secure a DPA for SNC facing corruption charges. It was tied to investment by the Canada Infrastructure Bank. Now, I can see they are helping Trudeau with investments in ESG ClimateFinance cdnpoli
Big L
Who's pushing ESG?
Environmental, Social, Governance
What's ESG?
They can sell them all they want. It’s mentality like this that continues to discourage investment in oil and gas and pushes the prices up to the point these companies continue to buy back their stock. At this rate many of them will be fully privatized and taken off the market.
So can we then assume that CPPIB will be divesting its investments in China and other countries that disregard the S and G. And on E, what timeline to net zero? What returns and risk are they taking into account with this direction?
I hear FTX is at a good price! Maybe they should double down and buy while the price is so cheap! I would be very worried if these clowns were investing my money!
CPPIB chief says it will divest if other efforts to commit to net zero fail Great reason for a SovereignAlberta First past the post has failed in Canada. Federalism is an even bigger failure. Time to stop trying to hold up provinces that will not swim.
And bankrupt Canadians. Great plan.
Great easy to see which pension fund doesn’t support Canadians and the economy. Boycott.
I support this direction. Corps need to get serious about their climate commitments or risk losing access to capital investment. It's the only way out of this.
Need to lose these inept liberals.
Get ready for no growth or losses when you prioritize ideology over productive and profitable businesses
What a disgusting grift that all Canadians are now a part of
Taxpayers ought to have a say in how our money is being invested
Economic communism straight out of WEF which NO ONE voted for. These people are selling out our future on the name of a socialist global agenda. Yall think we are crazy? It's because you don't know even 2% of the facts on this issue and probably just learned about ESG.
That same pension fund is profiting from ESG. What a scam!
ESG is another WEF scam.
That's all a crock...
Go woke go broke
Most Cdns dont seem 2 know the UN's 2030 Goals [eg. ParisAccord which all gov including CPC/PP signed on] along w/ most FreeWorld, except 4 Trump & Maxime & Bolsonaro & Orban Globalism=Neo-marxsim VS MAGA [God Country Family 1st] Most have no clue what ESGscores are cdnPoli
ESGs are how elites will control private companies without owning them. We need a government that pits an end to ESGs. ABDanielleSmith PierrePoilievre
Where did FTX fall on the ESG list. Teachers pension lost 90 million,
This should encourage the province’s to get into the pension market possibly uniting with similar interests
When you politicize the investment process the return on investment will suffer. Canada is a resource based economy. Who decides if a company is not taking ESG seriously? Every Canadian should be concerned..this is our national pension fund.
Prepare to see your pensions evaporate
Can a company buy a sticker that says : “ We ❤️ ESG” and call it good?
There goes the returns.
Investor will sell assets that fail to meet regulatory criteria, seems like good financial sense
Who cares.
ESG is a huge scam.
This is bad... bad to the bone