Breaking News from The Globe and Mail:
Development, driven partly by money from two of Canada's largest public-sector retirement funds, threatens a vast 'eco-gem'
AYSEN, CHILE — The Patagonian region of southern Chile is considered one of the world's last, great wildernesses, dubbed an "eco-gem" for its rare fauna, ice-sculptured fjords and almost total absence of industrial development.
But development is threatening this pristine wilderness, driven in part by money from two of Canada's largest public-sector retirement funds.
The CPP Investment Board and British Columbia Investment Management Corp. have stakes in a vast electricity project planned for this natural area, putting the organizations on a collision course with Chilean and North American environmentalists, and into the middle of a heated national debate over energy development in the Latin American country. more
This is a detailed story on the financing by Canadian pension funds of the massive hydro electric project that threatens the environment of Patagonia. Please consider sharing this article with your contacts and particularly Canadians. Thank you.
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