When teachers meet in Vancouver next week for the BCTF annual general meeting, pensions will be a hot topic. Despite current anxiety about pensions and benefits, several local teachers' associations will call for funding pensions only through ethical investing.
According to the Reports and Resolutions package for the AGM, nine associations have submitted resolutions calling for BCTF representatives on the Teachers' Pension Board to oppose investment in corporations producing tobacco or weapons, as well as those contributing to human-rights violations and severely damaging the environment.
Several of the resolutions call for the BCTF to push for adopt "ethical guidelines based on those of the Norwegian Government Pension Fund." Given the graph on the Fund's home page, these resolutions should inspire lively debate.
Abbotsford teachers, meanwhile, are proposing "That the BCTF encourage its members on the Pension Board to purchase quality blue chip media shares in BC media companies." Their argument:
"Since the Ontario teachers bought shares in media groups there has been a more positive perception of the teaching profession in that province. Partial control of media companies would make it very hard for the current government to not bring our salaries in line with provinces like Ontario.
"With more media muscle, we could certainly make things politically very difficult for the current provincial government without taking job action and without going on strike.
"If you control the media, you control the message."
Crawford Kilian is a contributing editor of The Tyee.
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Luke Skywalker
3 years ago
Some Doubts Here...
Firstly, the OTPP is an arms-length, professionally-managed pension fund that seeks relatively conservative returns for Ontario's teacher membership. No ideological involvement involved in that regard.
It's real-estate wing, ONTREA, is also professionally managed by corporate Cadillac Fairview Ltd. Years back I had some dealings with same. Very professional.
That's somewhat unrealistic. Ontario's teacher federation has no direct involvement in the daily management of the ~$108 billion fund with perhaps some board members in terms of overview.
Yes, OTPP does have an investment in excess of $100 million in CTVglobalmedia Inc. as do many other pension funds. CTVglobalmedia runs CTV News and the Globe and Mail (which many in the BCTF would consider to be too "right-wing").
http://docs.otpp.com/ar07/ar07_i100_private.htm
It's doubtful that that arms-length investment has had any impact on their media coverage.
OTPP also has some other interesting equity investments in excess of $100 million, including:
1. Encana, which is developing the oil sands;
2. Macquarie Infrastructure Group, which is involved in P-3's inclusive of right here in BC;
3. MacDonald, Dettwiler and Associates Ltd., which attempted to sell one of its divisions to a U.S. firm last year but was blocked by the Con gov't;
http://docs.otpp.com/ar07/ar07_i100_corporateshare.htm
Apparently, whoever put forward that motion doesn't understand how the "system" works and is somewhat delusional, but I digress.
Hughes
3 years ago
Media Shares?
Have the Abbotsford teachers considered the media sector's faltering stocks at their clandestine conclave.
Give your collective heads a shake.