Quebecers’ nest egg money has no place in Israel and the Gaza Strip, criticizes Québec Solidaire (QS). In an interview, and with supporting figures, MP Haroun Bouazzi urges the Caisse de dépôt et placement du Québec (CDPQ) to reconsider some of its investments.
“The Caisse de dépôt must absolutely avoid becoming complicit in the colonization of the occupied Palestinian territories, the apartheid system which is prevalent in Israel and Palestine, and now, more recently, the war crimes which are underway in Gaza” , says the Montreal elected official on the other end of the phone.
Based on figures from the Canadian organization Movement for a Just Peace, Mr. Bouazzi points to a series of companies in which the CDPQ invests, and which do business, directly or indirectly, with the Netanyahu government.
He refers in passing to the most recent United Nations (UN) database “on companies linked to the Occupied Palestinian Territory”. Launched in 2016, the base counts 112 private players who would participate in the installation of “Israeli settlements” in Palestinian territories.
Mr. Bouazzi identified seven companies listed in the Caisse’s most recent annual report (2023). According to this information, cross-verified by The dutythe nest egg of Quebecers holds 1.5 billion dollars worth of shares, including nearly 1.2 billion in Alstom, the French company which notably supplied the trains for the Réseau express métropolitain in Montreal.
Also appearing in this UN list, as in the Fund’s investments: the Airbnb platform, the Expedia group or the American multinational Booking, as well as the Israeli banks Leumi and Hapoalim.
“There are several analyzes of the various Caisse investments that exist and which show that a certain number of them are in companies which participate in violations of international law,” maintains Mr. Bouazzi. “It is time for the Fund to divest from these companies or force them to no longer operate in the occupied territories. »
Armament
In January, the International Court of Justice ordered Israel to prevent any possible act of “genocide” and allow access for humanitarian aid groups to Gaza, where fighting has raged since the Hamas attacks on October 7 . Since then, the military activity of the Israeli army in the Gaza Strip, and more recently in Rafah, has continued to intensify.
Haroun Bouazzi appeals to the sense of “ethics” of the president and CEO of the CDPQ, Charles Emond, whom he questioned on this subject in a parliamentary committee last month. It is not normal, according to Mr. Bouazzi, for the Caisse to have shares ($62 million) in Lockheed Martin, an arms company which supplies military aircraft to the Netanyahu government.
“Today, the Caisse continues to invest in this type of company. It’s obvious that Lockheed Martin is one of those in which it’s much easier to divest,” says Mr. Bouazzi.
Asked about its investments in Israel and Palestine, CDPQ confirms that it is “closely following the evolution of the conflict”. “ [Nous] “We are obviously concerned about its impact on the populations in the region,” writes the director of communications and outreach for Quebec, Jean-Benoît Houde, in an email addressed to Duty.
“I also confirm to you that almost all of our investments in the region [qui représentent moins de 0,1 % de nos actifs] are under external management,” he adds. “We maintain an ongoing dialogue with our portfolio companies on these topics. »
Questioned directly by Mr. Bouazzi during the study of the Caisse’s budgetary appropriations in April, Mr. Emond affirmed that he had “no intention of increasing [les] investments in a region that is in conflict.
“We continue to apply our human rights policies. And then, we will carefully monitor all investments [qui pourraient ne pas rencontrer] the criteria we set for ourselves “, he said.