If you have a public pension in BC, your retirement savings are likely fuelling the climate change crisis.
The pensions of over half a million British Columbians are administered by the British Columbia Investment Management Corporation (BCI), formerly known as the bcIMC. It’s the fourth largest pension fund manager in Canada and controls one of province’s largest pools of wealth totalling $135.5 billion dollars.
Energy policy
The British Columbia Investment Management Corporation (BCI), formerly known as bcIMC, is a financial institution most British Columbians aren’t aware of. Its actions, however, are essential to BC’s and Canada’s ability — or inability — to address the climate change crisis.
The British Columbia Investment Management Corporation is a little-known financial institution, however, its actions are vital to BC’s and Canada’s ability—or inability—to address the climate change crisis, says a new Canadian Centre for Policy Alternatives and Corporate Mapping Project report.
As the steward of BC’s public pensions, it is unacceptable that the Corporation (BCI) is bankrolling companies whose current business models exceed the climate change targets agreed to in the Paris Agreement, say the report authors.
Here at the CCPA, we're constantly thinking about what needs to change in our lives, our economy and our ways of governing to make society more equitable, and life more fulfilling, for the greatest number of people. Broadly speaking, you could say our mandate is transition, the theme of this summer edition of the Monitor. By transition we mean a fair and just progression from today's extractives-based, exhausting and unequal economy to a more sustainable, pro-worker and frankly more human future.
Earlier this year, Premier John Horgan announced that the British Columbia government was prepared to offer billions of dollars in tax breaks to Royal Dutch Shell should the global fossil fuel giant build a massive liquefied natural gas plant on our province’s north coast.
Absent from the news then, however, was any mention of how the public is being shortchanged billions of dollars in revenues from the fossil fuel industry regardless of whether Shell proceeds with its LNG Canada project or not.
VANCOUVER – An unprecedented increase in a special “credit” account set up by the BC government to subsidize the fracking industry should be immediately investigated by the province’s Auditor General, says the BC office of the Canadian Centre for Policy Alternatives.
VANCOUVER – BC’s Oil and Gas Commission sat on a damaging audit for nearly four years that showed companies that drill and frack for natural gas repeatedly broke rules intended to protect threatened boreal caribou.
The document, obtained by the Canadian Centre for Policy Alternatives (CCPA), underscores lax regulatory oversight of fossil fuel companies by the Commission (OGC).
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VANCOUVER — A new study by veteran earth scientist David Hughes anchors the heated debate about pipelines and energy infrastructure within the realm of science and evidence. The study, which offers a comprehensive review of Canada’s energy systems, reveals that Canada’s existing plans fall short of meeting energy security and emissions reduction targets.