Over the past month, the Canada Pension Plan Investment Board (CPPIB) held 8 public meetings. Hundreds of folks attended demanding answers to CPPIB complicity in war crimes, genocide, and the climate crisis. A huge acknowledgment to all of the organizers country-wide who showed up. And a big shout-out to Shift: Action for Pension Wealth and Planet Health for all their efforts. You can hear audio recordings from each meeting on their website. You can also find video clips from attendees here.
Despite being met with legitimate questions and concerns, CPPIB regularly dismissed attendees with indirect and patronizing responses. CPPIB leadership also cut people off right at 7pm and refused to stay and answer those who had been waiting in line. CPPIB is required, by law, to hold these meetings. But their disdain and lack of genuine engagement is despicable.
Attendees consistently asked CPPIB about investments in companies on the UN Database. Yet, every time, CPPIB leadership, namely Michel Leduc, feigned ignorance and claimed neutrality. They showed a complete lack of preparation. For 7 years, Just Peace Advocates has sent them an analysis of CPPIB’s annual report. This has always included the UN Database. In 2021, Jeffrey Hodgson of CPPIB stated a review of these companies would take place. However, we have not received a response since. Additionally, in 2022 and 2024, individuals attended public stakeholder meetings and demanded answers. Yet, CPPIB continues to claim ignorance. Even at the last meeting in Frederiction, Leduc said he didn’t know “which” UN list an attendee was referring to. (Check out the list of 19 companies on the UN Database.)
CPPIB made it clear, they either had not read the report, had but not thoroughly, or wer avoiding the truth. Attendees even provided lists of specific companies, but CPPIB still refused to provide a clear answer. Is it ignorance, avoidance, or just plain dishonesty?
CPPIB claims to be an active investor, yet it also claimed non-complicity because it is “passively” invests in these companies. These two things do not add up. They further claimed that these companies are in indexed funds, for example, MSCI indices. However, MSCI offers custom indices.
They also said that the UN says it is acceptable to invest in these companies. They suggest that though these companies are in the UN Database, investments in them are acceptable and do not equate to complicity. International and Canadian law says otherwise. As do lawyers, UN experts, and the UN Independent International Commission of Inquiry on the Occupied Palestinian Territory, including East Jerusalem, and Israel.
So which is it? Is CPPIB unaware of the UN Database of companies complicit in supporting Israel’s illegal settlement enterprise? Or does CPPIB know of the database but investments in these companies are permitted? Is it that CPPIB doesn’t have a choice because they are part of indexed funds? Or is it that CPPIB is incompetent, or worse willfully reckless with our money?
We will continue to demand answers. The CPPIB continues to make it clear: it does not care about the law, it does not care about public opinion. But it’s not just their money, it’s ours. We will continue to make them care and demand accountability. We refuse CPPIB taking our money and turning it into blood money.
Take 2 minutes to send CPPIB a letter with your questions / demands, and register to attend CPP’s virtual meeting on November 19 at 12pm ET.
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