The Canadian Pension Plan

Asarial,

I’m writing to you about an urgent petition from Cheryl from Shift, who is calling on the Canada Pension Plan Investment Board (CPPIB) to stop investing our money in fossil fuel expansion.

Here’s a brief explanation of the campaign:

The CPPIB manages the retirement savings of over 22 million hard-working Canadians. But rather than using that enormous financial power to lead the transition away from fossil fuels that scientists and world leaders agree is essential – CPPIB continues to invest in fossil fuel expansion.

Starting on October 10th, 2024, we have a rare opportunity to ask why – and to demand better! Every two years, CPPIB must hold free public meetings to share how it is managing our national pension fund – and to answer Canadians’ questions on its alarming track record of investing in fossil fuel expansion.

Asarial, we must demand that the CPPIB executives stop gambling our hard-earned retirement savings on fossil fuel expansion. Will you send a message to the CPP Board now?

Here’s some more information about Shift’s campaign calling on the CPPIB to stop investing pensioners’ retirement savings in fossil fuel expansion:

CPPIB is one of the largest investment funds in the world, managing nearly $650 billion in retirement savings on behalf of over 22 million working and retired Canadians.

• CPPIB committed to achieve net-zero emissions by 2050. In recent years CPPIB has dramatically increased its investments in climate solutions.
• But at the same time, CPPIB is continuing to invest our retirement dollars in fossil fuel infrastructure and the companies fueling the climate crisis – Shift estimates nearly $64 billion in fossil fuel investments as of September 2023.
• CPPIB’s board of directors also has a potential conflict of interest problem: three of the 11 current members of CPPIB’s Board of Directors are also executives or corporate directors of fossil fuel companies.

The Canada Pension Plan is our money. CPPIB owes all of us a duty to maximize our returns over the long term without undue risk of loss. Fossil fuel expansion simply cannot be a responsible investment, with the high risk of assets becoming stranded as the global economy moves away from fossil fuels.

Will you send a message now and demand the CPPIB divest pensioners’ savings from fossil fuels?

For future generations,
Ellen and Maggie on behalf of the Leadnow team

Sources:
Newswire, CPP Investments Announces Commitment to Net Zero by 2050
Shift – 2023 Canadian Pension Climate Report Card
CPP Investments, CPPIB Board of Directors