The CDPQ participates in “the economy of the genocide”, denounces a report of the UN

The Caisse de Dépôt et Placement du Québec (CDPQ) is targeted by a report by the United Nations (UN), which accuses the woolen bottom of Quebecers of participating in the “genocide economy” in Gaza.

The cash register invested $ 9.6 billion in companies that would take advantage of the Israeli-Palestinian conflict to get rich, alleys the special rapporteur of theHim On the situation of human rights in the Palestinian territories, Francesca Albanese, in her report entitled From the occupation economy to the genocide economyunveiled Thursday.

Ms. Albanese accuses 48 companies of benefiting financially from the conflict, providing military equipment or buying obligations from the Israeli government.

We have to stop it allpleaded in French Ms. Albanese, during a press conference broadcast online.

The profits that these companies are in the process of making are the measure of their involvement in this genocide. It is an economy that supports Israel. Instead of sanctioning it, we are supporting it.

She recommends an embargo on the sale of weapons to Israel. It is time for companies to cut links with Israel, added Ms. Albanese in another response in English. Getting involved in something that generates economic gains and profits is problematic.

Take advantage of the sale of military aircraft in Israel

In the report, the fund is targeted more specifically, because its investments in three targeted companies increased from 2023 to 2024. The report denounces the fact that the institution holds actions of these companies, Despite its responsible investment policy and human rights.

The report cites the example of investment in Lockheed Martinwhich tripled from 2023 to 2024. The report accuses the American company of taking advantage of the sale of its military aircraft in Israel.

After the month of October 2023, the F-35 and the F-16 played an essential role in endowing Israel with unprecedented air power, allowing it to drop around 85,000 tonnes of bombs, most of which are not guided, killing and injuring more than 179,411 Palestinians and ravaging Gazacontinues the report.

Lockheed Martin says she is proud of the central role she played in ensuring the security of the State of Israelon his website.

It was not possible to obtain an immediate reaction from the CDPQ.

In May, the president and chief executive officer, Charles Emond, said in parliamentary committee that the situation was not white or black When invested in the defense sector.

He also mentioned that certain investments in the cash register were not linked to a decision to invest directly in the company, but that they were rather passively detained, by reproducing a stock market index.

In the case of Lockheed Martinwe could also bring the point that it is the same company that manufactures equipment that is provided by other governments, American or other, at the level of theTaketo defend Ukraine, in particularsaid the boss of the cash register.

The cash register should not look elsewhere

The report is very importantbecause it illustrates how the economic system took advantage of the Israeli military intervention, underlined the spokesperson for the Coalition of Quebec Emergency Palestine, Raymond Legault, in an interview.

He asks the fund to depart from its investments in companies that make profits from This genocidal situation.

We cannot look elsewhere and say that, in the end, our investments in these companies have nothing to do with the crimes that are being committed.

The cash exposure would be even greater than the $ 9.6 billion identified in the report of theHimadvanced Mr. Legault. The rapporteur, herself, recognized that the list of companies targeted was not exhaustive.

The Coalition of Quebec Emergency Palestine estimates that the fund has invested nearly $ 27.4 billion in companies that benefit from the military actions of Israel.

At a time when the increase in military spending is a priority of the Carney government, Legault is concerned about seeing companies in the defense sector, who brew cases with the Israeli government, take advantage of it.

There is no indication on the part of our governments, neither of the Canadian government nor the Quebec government, of a real desire to dissociate themselves from their unwavering support to Israel until nowhe deplores.