In November 2024, CPPIB revised its Proxy Voting Principles and Guidelines, softening the previously strong language ('will vote against') to 'will consider voting against' for directors at companies with climate oversight deficiencies. This change raises concerns about the fund's commitment to robust climate governance and creates potential loopholes—especially for U.S. companies affected by regulatory shifts following the Trump administration's withdrawal from the Paris Agreement.

A December 2023 report by the House of Commons Special Committee details how CPP Investments, while exposed to companies implicated in forced labour and human rights abuses in the PRC through passive index investments, has implemented enhanced due diligence and active engagement processes. The fund emphasizes deep analyses and risk monitoring in its investment decisions to mitigate potential complicity in human rights abuses, reflecting a commitment to responsible investment practices despite structural challenges inherent in managing diversified global portfolios.

The 2023 report outlines CPPIB’s updated proxy voting guidelines and Decarbonization Investment Approach aimed at reducing emissions. However, the report also highlights significant shortcomings, including a lack of clear interim emissions reduction targets and insufficient measures to compel fossil fuel companies to adopt science-based net-zero plans, raising concerns about the fund’s overall commitment to aggressive climate action.

A report by MIR criticizes CPP Investments for channeling billions into Chinese corporations implicated in forced labor, mass surveillance, and other human rights abuses. The article highlights investments in companies that bolster the Chinese state's repressive apparatus, raising serious ethical questions about the alignment of investment practices with proclaimed values.

An environmental group alleges that CPP Investments, through its subsidiary Crestone Peak Resources, violated its own guidelines by facilitating over $600,000 in donations to U.S. political groups aimed at supporting industry-friendly and partisan objectives, raising concerns about its commitment to political neutrality.

On May 7, 2020, CPP Investments disclosed its holdings of 44,238,000 Tencent shares valued at approximately $2.71 billion. This investment links the Canadian pension fund to a technology giant accused of censorship, surveillance, and facilitating Beijing’s human rights violations.