By World BEYOND War, June 24, 2022
The Canadian Pension Plan Investment Board (CPPIB) manages a large and rapidly growing fund, one of the largest pensions in the world. Over the years, the CPPIB has moved from real assets to equities, and from investments in Canadian infrastructure to foreign investments. With over $539B of our public pension at stake, we need to be aware of “what the CPPIB is up to.”
Panelists speak about the CPPIB and its investment in the military arms, mining, Israeli war crimes, and privatization of life sustaining public infrastructure including water in the Global South, and other alarming investments. The discussion also delved into what can be done to hold the CPPIB accountable for the public pension funds entrusted to it.
Moderator: Bianca Mugyenyi, Canadian Foreign Policy Institute
– Denise Mota Dau , Sub-Regional Secretary for Public Services International (PSI)
– Ary Girota, President of SINDÁGUA-RJ (Water purification, distribution and sewage workers’ union of Niterói) in Brazil.
– Kathryn Ravey, Business and Human Rights Legal Researcher, Al-Haq in Palestine.
– Kevin Skerrett, co-author of The Contradictions of Pension Fund Capitalism and Senior Research Officer (Pensions) with the Canadian Union of Public Employees in Ottawa.
– Rachel Small, Canada Organizer for World BEYOND War. Rachel has also organized within local and international social/environmental justice movements for over a decade, with a special focus on working in solidarity with communities harmed by Canadian extractive industry projects in Latin America.
Just Peace Advocates
World BEYOND War
Canadian Foreign Policy Institute
Canadian BDS Coalition
Internacional de Servicios Públicos
Data shared during the webinar:
As of March 31 2022, the Canada Pension Plan (CPP) has these investments in the top 25 global weapons dealers:
Lockheed Martin – market value $76 million CAD
Boeing – market value $70 million CAD
Northrop Grumman – market value $38 million CAD
Airbus – market value $441 million CAD
L3 Harris – market value $27 million CAD
Honeywell – market value $106 million CAD
Mitsubishi Heavy Industries – market value $36 million CAD
General Electric – market value $70 million CAD
Thales – market value $6 million CAD