Citizen Action Monitor

Tell Canada Pension Plan Investment Board to say NO to Kinder Morgan

U.S.-based Kinder Morgan is asking Canadian funders to invest money in its Trans Mountain pipeline to increase capacity to 890,000 barrels a day.

No 1900 Posted by fw, February 24, 2017

“Last week Reuters revealed that U.S.-based pipeline company Kinder Morgan is approaching Canadian funders to raise money to triple the capacity of the Trans Mountain pipeline to 890,000 barrels a day. This would also quadruple the number of supertankers to more than 400 in B.C’s Burrard Inlet each year. One funder Kinder Morgan has approached is the Canada Pension Plan Investment Board (CPPIB). If you work or have worked in Canada, you are a contributor to the Canada Pension Plan. You have a say in whether or not your pension funds are used to pay for risky pipeline projects that fuel climate change and endanger coastal waters.”-Council of Canadians

Click Take action! — Tell the CPPIB you don’t want your pension fund invested in the Trans Mountain pipeline.

Below is a repost of the Council’s news release. Read it to find out why this pipeline would be (1) A risky investment, (2) A risk to water and the climate; and (3) A violation of Indigenous rights.

A copy of the letter you are being asked to sign is at the end of this post.

Alternatively, read the news release and letter and sign the letter by clicking on the following liked title.

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Stop your pension from building pipelines! by Council of Canadians, February 24, 2017

Last week Reuters revealed that U.S.-based pipeline company Kinder Morgan is approaching Canadian funders to raise money to triple the capacity of the Trans Mountain pipeline to 890,000 barrels a day. This would also quadruple the number of supertankers to more than 400 in B.C’s Burrard Inlet each year.

One funder Kinder Morgan has approached is the Canada Pension Plan Investment Board (CPPIB).

If you work or have worked in Canada, you are a contributor to the Canada Pension Plan. You have a say in whether or not your pension funds are used to pay for risky pipeline projects that fuel climate change and endanger coastal waters.

This pipeline would be:

A risky investment. Globally, as the world transitions to a clean energy economy, investing in fossil fuel-based companies like Kinder Morgan becomes a liability. Oil giants Exxon and ConocoPhilips recently announced they are leaving a combined 4.7 billion barrels of tar sands reserves in the ground because they aren’t profitable enough to extract. Shell and Statoil are slowly divesting their tar sands assets.

A risk to water and the climate. The Trans Mountain pipeline crosses 1,300 waterways. A pipeline spill in any of them would have devastating impacts. Building and expanding pipelines also moves us away from our Paris climate commitments. Building Kinder Morgan would singlehandedly add an estimate 28 megatons of CO2 equivalent downstream emissions.

A violation of Indigenous rights. At least six West Coast Indigenous communities are suing the federal government because the Trans Mountain pipeline would threaten their livelihoods.

Even though the Trudeau government recently approved the Trans Mountain pipeline expansion, many obstacles still remain, including Kinder Morgan’s need to secure investors for the $6.8 billion project.

That’s where you come in.

Take action! Tell the CPPIB you don’t want your pension fund invested in the Trans Mountain pipeline.

Here’s the letter –

TO: Mark Machin, President and CEO of CPPIB

CC: Canada Pension Plan Investment Board (CPPIB)

SUBJECT: Don’t invest my CPP funds in pipelines

Dear Mr. Machin,

Following reports that Kinder Morgan has started talks with the Canada Pension Plan Investment Board (CPPIB) about investing in the Trans Mountain pipeline, I am writing to urge you to reject the proposal and refuse to invest in this destructive pipeline project.

The oil industry is in crisis and Canada is gradually and steadily transitioning away from fossil fuels. This makes investments in fossil fuel projects like this pipeline a liability.

Furthermore, pipelines that move carbon-intensive crude from the tar sands contribute to the climate crisis. This puts the health of future generations and water at risk.

As a CPP contributor, I urge the CPPIB to take a principled stance and publicly refuse to invest any money in Kinder Morgan’s Trans Mountain pipeline.

Sincerely,

Your name, address, etc.

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