IS YOUR BANK INVESTING IN
HUMAN RIGHTS ABUSES?
HUMAN RIGHTS ABUSES?
| Ask your bank to follow its own human rights policies >> |
 |
Dear Tracy,
Every year, Canadians are encouraged to invest in Registered Retirement Savings Plans (RRSPs) through our bank or credit union. Many of us try to make sure our investments aren't harming human rights or health.
But how much do we know about where our investments are going?
To help answer this question, Amnesty International reviewed the policies and stakeholder initiatives of four major Canadian banks (RBC, TD, CIBC and BMO) and the investing guidelines of the Canada Pension Plan Investment Board (CPPIB).
The results of our findings weren't great. While the banks and the CPPIB have developed strong social, environmental and human rights investment guidelines and policies over the past decade, they are unfortunately not consistently following their own rules.
>> TAKE ACTION: Tell your bank or the CPP to invest in line with their own socially responsible policies.
Most mutual funds, even ethical funds, are a grab-bag of companies and industries, including Canada's oil, gas and mining sector, which has been linked to human rights abuses here at home and around the world.
Watch this video to learn more and send a message to your bank >>
Amnesty International has conducted research into a number of cases where Canadian extractive companies have failed to respect human rights, including:
Every year, Canadians are encouraged to invest in Registered Retirement Savings Plans (RRSPs) through our bank or credit union. Many of us try to make sure our investments aren't harming human rights or health.
But how much do we know about where our investments are going?
To help answer this question, Amnesty International reviewed the policies and stakeholder initiatives of four major Canadian banks (RBC, TD, CIBC and BMO) and the investing guidelines of the Canada Pension Plan Investment Board (CPPIB).
The results of our findings weren't great. While the banks and the CPPIB have developed strong social, environmental and human rights investment guidelines and policies over the past decade, they are unfortunately not consistently following their own rules.
>> TAKE ACTION: Tell your bank or the CPP to invest in line with their own socially responsible policies.
Most mutual funds, even ethical funds, are a grab-bag of companies and industries, including Canada's oil, gas and mining sector, which has been linked to human rights abuses here at home and around the world.
Watch this video to learn more and send a message to your bank >>
Amnesty International has conducted research into a number of cases where Canadian extractive companies have failed to respect human rights, including:
- Nevsun Resources, in court facing allegations of using of forced labour at its mine in Eritrea
- Tahoe Resources, recently in court regarding the shooting of seven peaceful protestors at its Escobal mine in Guatemala
- Shell, which operates oil refineries and gas stations in Canada, responsible for thousands of oil spills in the Niger Delta
- Imperial Metals, whose Mt. Polley Mine tailings dam breached and spilled millions of cubic metres of toxic slurry into Hazeltine Creek and Quesnel Lake in British Columbia
These companies' violations impact whole communities -- people's rights to health, security, freedom, dignity. Your bank has a responsibility to ensure that the projects it finances with your money do not contribute to human rights violations.
Make sure your bank invests in line with your values and lives up to its commitments to human rights!
Thank you for using your power as a banking client or CPP contributor to be a strong voice for human rights. It's because of caring people like you that we can continue to push corporations to be accountable.
Sincerely,
Alex Neve
Secretary General
Amnesty International Canada
P.S. Banks and pension funds can do much more to live up to their own human rights policies. Send a message to your bank or pension plan today!
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