Activists Leave Dissatisfied with Their CDPQ Meeting

On August 8th, 2024, a press conference was held in front of the Caisse de Dépôt et Placement du Québec office regarding their investments in Israel. Activists spoke with the CDPQ and left disappointed, calling it "a one-way conversation."

Paul Fauteux, a lawyer specializing in international law, spoke about the link between the investments and Israeli settlements and other events in the region such as "the war crime of transfer of population [by] the military powers." He explains how international organizations have denounced the state of Israel and private actors in the region for their breach of international law, and that cutting financial links is, according to him, the path forward. KLP, Norway's largest pension institution has divested from a multitude of companies due to their ties in Israeli settlements in the West Bank and concerns over human rights. Mr. Fauteux and his colleagues want similar actions taken by the CDPQ.

They highlight specific companies such as WSP Global, Alstom, Caterpillar and Lockheed Martin among others in their list, detailing that over 14.2 billion CAD (roughly 3% of the CDPQ's total portfolio) are linked to the 87 companies of interest. Lockheed Martin in particular is a notable weapons manufacturer and is the company producing the notorious 5th generation F-35 fighter and 4th generation F-16, which are sold to multiple Western Nations and Israel. Combined with a multitude of precision-guided missiles, bombs and other air-to-surface equipment.

The dialogue failed to satisfy the coalition that left feeling unheard by the CDPQ. They describe the institution as: "[...] very attached to continuing to make money." Public pressure and other forms of protest remain their primary strategy even if they are open to another dialog.