Bill 399: An Act to amend the Act respecting the Caisse de dépôt et placement du Québec to require the Caisse de dépôt et placement du Québec to make and to report on investments with sustainable social and environmental impacts

This bill primarily affects the Caisse de dépôt et placement du Québec itself and, indirectly, the businesses and projects it invests in — particularly those in Quebec across sectors like infrastructure, real estate, private equity, and public markets. Companies seeking CDPQ investment may face greater scrutiny around their environmental and social performance, as the fund will need to demonstrate and report on the sustainable impacts of its portfolio. Larger businesses and institutional players that rely on CDPQ as a capital partner are most likely to feel this shift, as investment criteria could evolve to formally weigh social and environmental outcomes alongside financial returns. Smaller Quebec-based businesses in the CDPQ orbit may also find new opportunities if their operations align with sustainable impact criteria defined by future government regulation.