Credit: Andre Coyne| National Post| June 29, 2018
Andrew Coyne: Liberals, keep your moralizing mitts off our Canada Pension Plan
McKenna’s tweet was just the usual non-stop, 24-hour moralizing we’ve come to expect from the primly ideological fanatics in this increasingly ridiculous government
It’s probably nothing. It was just a tweet, after all.
But when the federal environment minister, Catherine McKenna, posted her approval of a recent Canada Pension Plan Investment Board decision, it caused a little flutter of alarm among those who follow these things.
“Now, this is something that Canadians can be proud of,” she cheered, linking to a story about the CPPIB’s plans to invest more than $3 billion in green energy projects, “as it prepares for the global transition to a lower-carbon economy.”
Ministers of the Crown do not normally comment on CPP investment decisions, approvingly or otherwise, and with good reason. Though the federal and provincial governments set the broad terms of the plan’s operations — how much it collects in “contributions” from employers and employees, etc — the CPPIB, which is responsible for investing the $356 billion accumulated in the CPP Fund, is supposed to operate at arm’s length from all of them.
Now, this is something that Canadians can be proud of. The CPP
is planning to invest more than $3 billion in renewable energy as it prepares for the global transition to a lower-carbon economy. https://t.co/hsssiwYE47
— Catherine McKenna 🇨🇦 (@cathmckenna) June 26, 2018