TORONTO — An environmental group says the Canada Pension Plan is dodging rules that say its money cannot be used for political ends.
John Bennett of Friends of the Earth says the national plan owns a Colorado energy company that has spent more than $600,000 backing industry-friendly political candidates and lobbyists.
Crestone Peak Resources is 95 per cent owned by the Canada Pension Plan.
One of the company’s five directors also works for the pension plan.
The plan’s code of conduct forbids political donations — either made directly or through a third party — that could benefit its businesses,
Bennett says CPP officers refused to divulge the environmental and social guidelines that were used to evaluate Crestone’s business.
This report by The Canadian Press was first published Sept. 28, 2020.
The Canadian Press