For the seventh consecutive year, we have analyzed Canada Pension Plan Investment Board’s (CPPIB) investments. As of 31 March 2026 (fiscal year end 2025/2026), CPPIB had over $54 billion invested in 120 companies complicit in Israel’s genocide, war crimes, and apartheid. This represents 6.9% of CPPIB’s total holdings in 25/26.
The Canada Pension Plan (CPP) is the Canadian national social insurance plan (with the exception of Quebec which has CDPQ). CPP is funded through contributions from employees, employers, and self-employed individuals – aka, the residents of Canada. CPP “provides income replacement to contributors and their families in the event of retirement, disability or death.” CPP funds are managed by the CPP Investment Board (CPPIB) which focuses on “maximizing long-term returns without undue risk of loss.” In other words, CPPIB decides how to invest the contributions of millions of individuals in Canada.
CPPIB has a total of $54.8 billion worth of complicit investments. This includes 8 companies listed on the UN Database — 3 US companies (Airbnb, Booking Holdings, and Motorola Soutions) and 5 Israeli companies (Bank Hapoalim, Bank Leumi, Delek Group, Israel Discount Bank, and Mizrahi Tefahot Bank). CPPIB reported investments in 21 complicit companies that did not appear in either the 23/24 or 24/25 annual report. Of these 21 companies, 14 are Israeli companies (66%).
The remaining are US (4) and Indian (3) companies. This shows a clear intention to expand investments in Israeli companies that are aiding and assisting Israel’s illegal occupation, genocide, and apartheid.
Over the past 3 years, CPPIB’s complicit investments have increased from $20.3 billion in 23/24, to $31.1 billion in 24/25, and to $54.8 billion in 25/26.
It is more clear than ever that CPPIB will not willingly end its complicity in Israeli war crimes, genocide, and apartheid. We must force them to take action. This year, CPPIB will host its bi-annual, legally required, stakeholder engagement. They will host meetings in each province this Fall (with the exception of Alberta who already had theirs). That means we have a chance to confront CPP directly, just like we did in 2022 and 2024. If you’re ready to get involved, fill out this form and we’ll be in touch in the coming weeks.
Email CPPIB today!
And read the full report here.
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