Sunday, February 19, 2006

CPP (just thought you should know)

(All info and most words from a Toronto Star article by Peter Gillespie)
The Canada Pension Plan Investment Board (CPPIB), the investment arm of the Canada Pension Plan, was established in 1997 to invest surplus pension contributions so that the pensions of Canadians are assured into the future. The controlling assets are more than 90 billion.
The point: The CPPIB refuses to screen investments on the basis of social, human rights or environmental factors. Meaning, millions of 'your/our' money is being invested in Lockheed Martin (world's largest weapons producer), other arms manufactures, Halliburtion, SNC-TEC (ammunition manufacturer), Monsanto (biotech/sketchy things), Wal-Mart(!) and the tobacco industry.
The amount invested could be 4, 8 or 160 million to give you a range, but most of these are around 9 million.
I can understand why the CPPIB wants to increase their assets, as the happiness of numerous Canadians depends on that resource, but it should not be supporting various ventures that most of the Canadian public (i.e., investors) would likely be against.
(Empirically, one would need a poll. Does anyone know what percentage of Canadians want to see more guns, bullets and Wal-Marts?)


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