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In Focus: La Caisse to blacklist companies violating international law, create RI committee

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  • In Focus

    La Caisse to blacklist companies violating international law, create RI committee

In Focus

Responsible Investor reports that the Caisse de Dépôt et Placement du Québec, Canada’s largest institutional fund, is planning to update their portfolios with a blacklist of companies that manufacture products such as anti-personnel mines and cluster bombs.  The Caisse made the decision to remove the unnamed corporations from its portfolios, although the institutional investor notes that in usual circumstances shareholder engagement is the principal ethical policy tool used.

The decision to blacklist the companies stemmed from the Caisse’s update on its responsible investment (RI) policies. The companies were selected on the basis of whether they had failed to comply with international convention by violating either local or international laws such as the UN Convention on Cluster Munitions (an international law passed in late 2010).

The Caisse, one of the first signatories to the United Nations Principles for Responsible Investment (UNPRI), has also announced its intentions to create an RI committee. The committee will serve to target companies for shareholder engagement as well as develop new, more effective approaches towards the implementation of sustainable and responsible investment.

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