CPP

Canada just bought the Trans Mountain pipeline for a whopping $4.5 billion. Now it's looking for investors and the Canada Pension Plan (CPP) is considering investing your retirement savings in this dangerous pipeline.

Send an email to the top executives at the CPP to keep our valuable pension money out of this risky pipeline project.

Send an Email

A,

The Canada Pension Plan -- where millions of Canadians are saving for their current and future retirements -- is considering investing your hard-earned money in the dangerous and risky pipeline project.

There is enough financial uncertainty with this project that even pipeline giant Enbridge won’t touch it. Costs have spiraled out of control, there... are 16 outstanding legal challenges, unfulfilled federal conditions set by the NEB, and the route hearings haven’t yet been completed.

So why is CPP saying it will consider this project? Given it is our money, we deserve a say in how it is -- or isn’t -- invested.

We’ve set up this easy to use tool to send an email directly to the Canada Pension Plan Investment Board (CPPIB) and let them know that you don’t agree with investing your pension and future in this risky pipeline.

With the CPP’s annual meeting coming up, this a critical moment for the CPP to hear from you that could make a decisive impact.

Will you send an email now to stop the CPP from investing in the Trans Mountain pipeline?

Canada’s Pension Plan is funded by people like you and me and provides critical support for people in their retirement, and for folks with disabilities. We do not deserve to have our essential retirement funds put at risk because of a foolhardy government’s will to push through a pipeline that violates Indigenous land rights and threatens our climate.

The project was spiralling over cost, which is why Kinder Morgan chose to back out of it, leaving tax payers in Canada footing the bill for this doomed pipeline. The Canadian government has already agreed to pay $4.5 billion for the project but with construction costs, it could balloon to over $15 billion. Investors are wary, and for a reason: this project is a lot of risk for seemingly very little reward. As the world transitions away from fossil fuels, billions of dollars of oil could become stranded assets.

If the CPPIB goes ahead and invests in this dangerous project, it will be putting our collective lifetimes of investments to support our elderly at risk.

Pensions are about long term, sustainable investments for our future. Buying a collapsing project in an expiring industry is the exact opposite of what CPP should be doing.

As Grand Chief Stewart Phillips said: "Canada cannot indemnify against the risks of not respecting Indigenous Title and Rights." It also can't indemnify against the risk that the world is moving away from this resource, and it could become stranded, losing taxpayers billions.”

Will you please send an email to the CPP Investment Board and other pension funds now to refuse investment in the Trans Mountain pipeline?

SumOfUs has been fighting against the Trans Mountain pipeline every step of the way. Earlier this month, SumOfUs members supported Indigenous leaders to attend to the Kinder Morgan AGM in Texas and present a groundbreaking shareholder resolution for more environmental accountability -- specifically citing the Trans Mountain pipeline.

The resolution passed with more than 50% of the shareholder vote, despite unanimous opposition from management!

SumOfUs members like you played a critical role. 1,400 of you wrote to your pension and mutual funds urging them to vote for this resolution.

This is a critical moment in this campaign, and so much of it has been possible because of people like you taking action for the kind of world we want to see. I believe that we can and will stop this pipeline. Let's make sure the CPP hears from us now.

Send an Email

Thanks for all that you do,
Angus, Emma, Amelia, and the team at SumOfUs


More information:

Canada minister eyes pension funds for Kinder Morgan project, Reuters, 17 May 2018
Pension plan, or Kinder Morgan itself, seen as potential buyers of Trans Mountain Pipeline, The Star, 30 May 2018
Morneau's optimism that investors will take over Trans Mountain may be misplaced, sources say, Financial Post, 18 May 2018
For Sale: Stalled Pipeline Project, Protesters Included, Bloomberg, 18 May 2018
Climate disclosure framework creates a better environment for investors, Globe and Mail, 7 April 2017
More light, less heat: A framework for pension fund action on climate change, Pension and Lifetime Savings Association, December 2017


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