Four of the biggest Canadian pension plans have major ownership in European pipeline or gas-distribution companies serving countries that depend on the flow of natural gas from Russia.
The pensions, all of which announced they would divest Russian investments in the wake of that country’s invasion of Ukraine, will not make a similar exit from these holdings, however.
In response to questions from The Globe and Mail, several of the pensions would not explicitly confirm that those companies are indeed transporting any gas from Russia. In many cases, the companies merely transport customers’ gas, with no say in where it comes from or goes. All said the companies they hold are powerless to take action against Russia in the absence of government sanctions or other regulatory intervention.
Go Incognito
