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e-2615

Petition to the Government of Canada

Whereas:
  • The Canada Pension Plan Investment Board (CPPIB) manages $400 billion of Canadians pension savings;
  • Following the financial challenges of 2008-09 and when governments rescued commercial banks from bankruptcy by “bailout,” using the credit worthiness of each country, central bankers have been searching for an alternative to taxpayer “bailout”; and
  • Current global conditions suggest there will be a growing desire to “bailout” the fossil fuel industry, dependent economies and lenders to that industry.
We, the undersigned, citizens and residents of Canada, call upon the Government of Canada to direct the CPPIB to:
1. Divest of all fossil fuel investments and to no longer entertain any new fossil fuel investment opportunity;
2. Hire a qualified, independent consultant to examine the total Canada Pension Plan Fund portfolio of investments for the purpose of completing a “value at risk” analysis in 2020 and every four year thereafter, which will also be publicly reported;
3. Refrain from making private equity investments and to progressively divest the Fund of these investments;
4. Discontinue the use of borrowed money.

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