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ACTION ALERT: Stop Canadian pension funds from destroying PatagoniaFebruary 4, 2008 As reported in December 2007 by Richard Montgomery of Global Roots, a nonprofit organization that supports existing grassroot environmental and poverty initiatives in remote places across the globe, "A Chilean utility, HQI Transelec Chile S.A., owned by a consortium led by Canada's Brookfield Asset Management Inc. (which includes major Canadian pension fund managers), is hoping to receive Chilean government approval next year to industrialize Patagonia for the first time." Montgomery writes, "According to a news release issued on June 16, 2006, the Brookfield consortium's investors include a B.C. government-owned Crown corporation that invests money on behalf of every nurse, postsecondary instructor, and municipal and provincial employee, as well as firefighters, police officers, transit operators, and ICBC and BC Hydro workers. The pension funds of most public-sector workers in this province are backing a company that is–in the words of its critics–involved in the destruction of one of the planet's greatest environmental treasures. The Brookfield consortium intends to build the world's longest high-tension power line from a series of as-yet-unapproved dams in Patagonia to Chile's central and northern industrial centres. Hundreds of transmission towers will be built alongside a superhighway that will open up Patagonia to the encroachment of industry for the first time." The Natural Resources Defense Council adds, “Two energy companies, Endesa and Colbun, are pushing to build hydro-electric dams on at least half a dozen rivers in Patagonia. The scheme would lay waste to this thriving region, flooding thousands of acres of irreplaceable wildlife habitat. As part of the same plan, Brookfield Consortium, a Canadian company, would clearcut a 1,400-mile swath through five national parks and two wilderness reserves to make way for the world's largest transmission line. NRDC and our Chilean partners are calling for a comprehensive review of energy production alternatives in Chile that won't destroy Patagonia's world-renowned rivers and wildlife habitat.” Toronto-based Brookfield (formerly named Brascan Corp.) describes itself as, "a global asset manager focused on property, power and other infrastructure assets with approximately US$90 billion of assets under management." Brookfield is also a member of the "Entreprenuers Circle" of the Canadian Council of Chief Executives. TAKE ACTION To send your message of opposition to those behind this destructive project in Patagonia, please call or e-mail: BROOKFIELD ASSET MANAGEMENT INC. CANADA PENSION PLAN INVESTMENT BOARD BRITISH COLUMBIA INVESTMENT MANAGEMENT CORPORATION To take part in the Natural Resources Defense Council campaign to tell “Tell Endesa, Colbun and the Chilean government to support an independent analysis of the full range of alternatives for Chile's energy production and economic growth” go to www.nrdconline.org. Read the full article 'Canadian pension funds linked to controversial project in Patagonia' by Richard Montgomery. To read the Natural Resource Defense Council’s ‘Stop Electrocuting Patagonia’ fact sheet. |
