Canada. Public servants calling for B.C. public sector pension fund to divest Russian investments
B.C. public servants and opposition political parties are calling on the province’s public sector pension fund to divest in investments in Russian companies.
In 2021, BC Investment Management Corporation holdings showed more than $450 million in Russian-owned companies. This includes $103.9 million worth of shares in the Russian state-owned bank Sberbank, $83.85 million in Lukoil, $32.3 million in Rosneft Oil, and $19.16 million in Gazprom.
An online petition from pension plan members states they “don’t want to be bankrolling (Vladimir) Putin’s regime and fossil fuels.
“There is zero justification, moral or financial, for continuing to hold shares in Russian companies, many of which are now subject to international sanctions. In line with Canada’s actions, and in solidarity with the people of Ukraine, BCI should do its part,” the petition reads.
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