Canada. ‘Some baloney’ in assertion Canada’s pension fund has highest ethical standards
OTTAWA — “We expect the CPPIB, like other Crown corporations, to live up to the highest standards of ethics and behaviour and that is, in fact, exactly what it is doing.” — Finance Minister Bill Morneau during question period Monday in the House of Commons.
The New Democrats challenged Morneau this week to weigh in on new ethical questions surrounding the investment portfolio of the arms-length Canada Pension Plan Investment Board — which manages hundreds of billions of dollars worth of Canadians’ retirement savings.
NDP MP Charlie Angus pressed Morneau for his opinion on CPPIB’s holdings in a tobacco company, a military weapons manufacturer and firms that run private American prisons. The prison operators and their facilities are seen as beneficiaries of the Trump administration’s controversial detention of asylum seekers and, in some cases, their children.
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