1/ Calgary-based NuVista Energy is reporting record oil and gas production and allocating $450 million in capital expenditure to further increase production in 2023. #ableg #cdnpoli financialpost.com/globe-newswire…
2/ This clearly violates IEA and IPCC emissions pathways for limiting global temperature increase to 1.5C, which require oil and gas production to immediately and rapidly decline. #fossilfuels #climatecrisis theguardian.com/environment/20…
3/ On January 1st, NuVista corporate director Deborah Stein joined the Board of Directors of the Ontario Teachers'​ Pension Plan @OTPPinfo. #onpoli #onted #cdnpoli shiftaction.ca/news/2022/9/15…
4/ Ms. Stein's legal obligation to advance the financial interests of NuVista appears to be in direct conflict with her fiduciary duty to invest in the best long-term interests of teachers and oversee the implementation of OTPP's #netzero plan. @nigelbme thestar.com/opinion/contri…
5/ It is impossible for teachers to tell if Ms. Stein will oversee OTPP decisions on #climaterisk & fossil fuel investments in the interest of teachers, or the interest of shareholders of NuVista Energy. #onpoli #onted nationalobserver.com/2022/11/28/new…

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More from @ActionShift

Jan 19
1/ As Canada grapples with its ongoing legacy of violently dispossessing Indigenous peoples of their lands & waters to make way for resource extraction, our public pension funds have a clear role to play in the process of reconciliation. #cdnpoli #UNDRIP shiftaction.ca/reportcard2022… Image
2/ But only a handful of pensions have taken steps to develop an Indigenous rights & reconciliation framework in their investment processes. This is particularly troubling for pension managers that are Crown corporations in jurisdictions that have enacted #UNDRIP in law. #cdnpoli Image
3/ @aimcoinvests, @LaCDPQ, @cppinvestments, @HOOPPnow, OMERS and @OTPPinfo have said virtually nothing about Indigenous rights and reconciliation, despite collectively having more than $1.5 billion in assets in Canada and around the world. #onpoli #polqc #ableg
Read 16 tweets
Jan 18
1/ NEW REPORT: Our first ever Canadian Pension Climate Report Card reveals Canada’s major pension funds are not on track to protect pensions from the worsening #climatecrisis or to align their portfolios with a safe climate future. #cdnpoli

A 🧵. Read on! shiftaction.ca/reportcard2022 Image
2/ Canada's pensions must do much more to develop and implement credible Paris-aligned climate action plans, fulfill their fiduciary duty to invest in members’ best long-term interests, and protect retirement security in a world that limits global heating to 1.5°C. #cdnpoli
3/ The report finds a high level of inconsistency among pension funds with a collective >$2 trillion in AUM, with the degree of urgency, detail, transparency, and ambition varying widely for managing climate-related risks and opportunities across the sector. #climaterisk #cdnpoli
Read 27 tweets
Jan 16
1/ Fisheries and Oceans Canada is investigating #CoastalGasLink after Wet’suwet’en chiefs captured video footage of the pipeline company violating environmental regulations on sensitive salmon-spawning rivers on their unceded territory. #cdnpoli #bcpoli theglobeandmail.com/canada/british…
2/ “It was alarming,” said Tsebasa, a Likhts’amisyu clan chief. “It’s just really hard to process. I was really quite disturbed by the complete disregard for the salmon, the water, the people — our rights as Wet’suwet’en people.” #cdnpoli #bcpoli thenarwhal.ca/bc-cgl-sedimen…
3/ The Wet’suwet’en have never given their consent to the #CoastalGasLink fracked gas pipeline. They're suing the pipeline company, RCMP & a private security firm for using intimidation, harassment, & unlawful detention to make way for construction. cbc.ca/news/indigenou…
Read 7 tweets

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