BE IT RESOLVED THAT AMPA establish a two year work group that will investigate:
b) ways to pressure the Ontario Teachers’ Pension Plan and the Ontario Municipal Employees Retirement System to:
- participate in the divestment of fossil fuel companies;
- ensure none of the OTPP’s or OMERS’ directly held or commingled assets include holdings in fossil fuel public equities and corporate bonds within 5 years as determined by ‘The Carbon Underground 200‘; and
- release bi-annual updates, available to OSSTF members and the public, detailing progress.
The work group will be comprised of the following:
a) Three bargaining unit presidents/leaders, with an interest in environmental issues, as selected by the Provincial Executive from applications;
b) One OTF Governor;
c) One Provincial Executive member, assigned by the President;
d) The Secretariat member assigned to environmental issues.
The work group will report to Provincial Council on an interim basis, as appropriate, and submit an interim report with recommendations to AMPA 2016 and a final report with recommendations to AMPA 2017.
BE IT RESOLVED THAT Policy 9.10 be amended by the addition of a new subsection that reads:
“It is the policy of OSSTF that the Ontario Teachers’ Pension Plan (OTPP) and the Ontario Municipal Employee Retirement System (OMERS) should not invest in fossil fuel companies. Specifically, the OTPP and OMERS should stop any new investment in fossil fuel public equities and corporate bonds as determined by ‘The Carbon Underground 200’ and should promote divestment until that is achieved.”
BE IT RESOLVED THAT the Provincial Executive and the OTF Governors ask the OTPP and OMERS Board of Directors to direct asset managers to stop any new investment in fossil fuel public equities and corporate bonds within 5 years as determined by ‘The Carbon Underground 200′.