Recently, Sierra Club Canada learned that the Canada Pension Plan Investment Board (CPPIB) is investing $250 million of Canadians' money into the tar sands. Our Executive Director wrote the CPPIB a letter, asking them to account for fueling catastrophic climate change. Here is their response.
Dear Mr. Bennett,
Re: CPP Investment Board's Consideration of Environmental Risks
Thank you for your letter dated July 7, 2010 regarding the CPP Investment Board's (CPPIB) approach to environmental risks.
By way of brief background, the CPPIB's mandate, as set out in our legislation, is to maximize the investment rate of return for the CPP Fund without undue risk of loss. Our long-term goal is to contribute to the financial strength of the CPP to help sustain the future pensions of 17 million Canadian contributors and beneficiaries.
... Read more »