Thread by @ActionShift

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…

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

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

4/ @IMCOinvest's largest client, the Ontario Pension Board, states in its 2021 Annual Report (p.23):
#onpoli #UNDRIP opb.ca/annual-reports…

5/ In its 2022 Annual Report (p.24), @InvestPSP states: #cdnpoli #UNDRIP #FPIC

6/ OPTrust's Proxy Voting Guidelines (p.22) state that the @OPSEU pension manager supports the "spirit and intent" of #UNDRIP. #onpoli #cdnpoli
optrust.com/documents/Inve…

7/ In its website FAQ, "How is UPP considering the human rights of Indigenous peoples?" @UPP_Ontario states: #onpoli #onted #cdnpoli #UNDRIP
myupp.ca/members/faqs/

8/ The British Columbia Investment Management Corporation noted in its 2021-2022 Corporate Annual Report (p.6) that reconciliation and Indigenous inclusion and engagement were learning priorities for its Board in 2021. #bcpoli #cdnpoli uberflip.bci.ca/i/1474107-bci-…?

8/ In some cases, pension fund assets are directly removing Indigenous Peoples from their lands & ignoring the right to #FPIC under #UNDRIP. Shift is particularly concerned by the example of TC Energy's #CoastalGasLink fracked gas pipeline. #bcpoli #ableg thenarwhal.ca/wetsuweten-coa…

#CoastalGasLink is co-owned by @aimcoinvests, while seven Canadian pension managers reviewed in our report own over US$1.5 billion in shares in TC Energy-- including investors that have prioritized Indigenous rights education or proxy voting guidelines. #cdnpoli

10/ #CoastalGasLink lacks the consent of the Wet’suwet’en Hereditary Chiefs to build a fracked gas pipeline through their unceded territory. The pipeline & its owners have failed to recognize Indigenous opposition & moved forward with pipeline construction thenarwhal.ca/coastal-gaslin…

11/ For years, armed police have harassed, intimidated, arrested and violently removed the Wet’suwet’en from the land on which they have lived for thousands of years, leading to litigation and nationwide protests. #bcpoli #cdnpoli cbc.ca/news/canada/br…

12/ @aimcoinvests' former CIO called #CoastalGasLink "a very promising investment that we’re very proud to make”, which is “unusual that it has such widespread support from community, government and First Nations.” (p.HS-160) #ableg #cdnpoli docs.assembly.ab.ca/LADDAR_files/d…

13/ Pension funds should adopt a transparent policy to respect the rights of Indigenous Peoples in investment decisions. #UNDRIP explicitly requires Free, Prior & Informed Consent for activities that may affect Indigenous Peoples or their territories #FPIC un.org/development/de…

14/ Furthermore, the Truth and Reconciliation Commission Calls to Action require Canadian investors and businesses to respect Indigenous governance and the rights of Indigenous Peoples to provide– or deny– consent. #cdnpoli publications.gc.ca/collections/co…

END/ This is particularly relevant for resource extraction and land-use projects, as projects financed by pension funds can negatively impact Indigenous peoples’ lands and waters.

Ask your pension manager if it has an Indigenous rights policy. #cdnpoli #UNDRIP