In their Infrastructure and Renewable Resources Portfolio BCI owns significant stakes in the following fossil fuel companies and infrastructure.
Information directly about the fossil fuel assets BCI owns:
- 32% ownership of Open Grid Europe, a fossil gas transmission network with 12,000 km of pipelines comprising approximately 70% of Germany’s gas shipping volume
- 26.29% ownership of Czech Gas Networks, the largest fossil gas distribution network in the Czech Republic.
- Part ownership of Nova Transportadora do Sudeste SA, a Brazilian company that operates more than 2,000 km of pipelines, the Bolivia-Brazil pipeline, LNG terminals and fossil gas processing plants.
- 37% ownership of Cleco Corporation, an electricity generator that operates 23 coal and fossil gas generating units in Louisiana and Texas.
- a 12% stake in Pacific National, an Australian rail company that is the country’s largest transporter of coal.
- a 20.9% stake in Puget Sound Energy (PSE), an electric and gas utility in Washington state. (PSE is a bit of a grey area because it is closing its coal plants and rapidly building out renewables and battery storage, but we still have some major concerns about its fossil gas expansion plans and lobbying activities. See https://www.nationalobserver.com/2020/11/16/news/canada-pension-plan-tacoma-lng-us-fossil-fuel-investments)
PROTECTING YOUR PENSION AND THE CLIMATE
“Shift: Action for Pension Wealth and Planet Health is a charitable initiative that works to protect pensions and the climate by bringing together beneficiaries and their pension funds on the climate crisis. We help Canadians understand where their retirement wealth is invested by tracking pension fund investments and strategy. We educate and empower Canadians on how to engage constructively with their pension funds. Now is the time for Canada’s pension funds to shift their investment approach and invest in a prosperous zero-carbon future.” – from Shift Action website