Category: Pensions

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Private Member’s Bill C-315: Amending CPPIB Act Over “Human, Labour And Environmental Rights”

New Democrat Member of Parliament Alistair MacGregor recently introduced Bill C-315, to amend the Canada Pension Plan Investment Board Act. At least, his name is on it. It’s unclear if he actually wrote this legislation.

On the surface, this is a Bill to get Canada’s national pension plan to move away from certain activities, at least as far as investing is concerned. To the novice reader, there’s nothing objectionable. It’s short, and (apparently) straight to the point.

But, at its core, this is a form of economic warfare against certain industries. Companies (or sectors)

Preamble
Whereas the Canada Pension Plan is a major pillar of Canada’s retirement income system and the Canada Pension Plan fund is one of the largest sovereign wealth funds in the world;
.
Whereas capital markets can have a tremendous impact and influence on environmental and social outcomes;
.
And whereas Canada, having a long history as a defender of human rights and freedoms, is committed to promoting responsible business practices and holding to account those who violate human, labour and environmental rights;

1 Section 35 of the Canada Pension Plan Investment Board Act is renumbered as subsection 35(1) and is amended by adding the following:
Considerations
(2) The investment policies, standards and procedures, in order to take into account environmental, social and governance factors, shall provide that no investment may be made or held in an entity if there are reasons to believe that the entity has, in performing acts or carrying out work,
(a) committed human, labour or environmental rights violations;
(b) produced arms, ammunition, implements or munitions of war prohibited under international law; or
(c) ordered, controlled or otherwise directed acts of corruption under any of sections 119 to 121 of the Criminal Code or sections 3 or 4 of the Corruption of Foreign Public Officials Act.

In fairness, it’s nice that this is transparent about its intent. The CPPIB Act is to be amended to use its financial power to influence social change.

Admittedly, this Bill isn’t entirely bad. It does make sense not to do business with companies that are engaged in arms manufacturing if they may be a threat to Canada.

However, some of the more subjective areas leave opportunities for double standards to take place. Who decides if “environmental rights” have been violated? Considering vaccine passports were a recent issue, what qualifies as “human rights” violations? What about “labour rights”? Would it be illegal to bring in replacement workers? Since none of this is clearly defined, how could any sort of consistency be applied?

This is a common problem in these kinds of bills. Since key terms are undefined, then everything becomes subjective, and impossible to enforce in any uniform matter. Politicians may vote on them, but then it is up to unelected bureaucrats to work out the details.

Sources:
(1) https://www.parl.ca/legisinfo/en/overview
(2) https://www.ourcommons.ca/Members/en/alistair-macgregor(89269)
(3) https://www.parl.ca/DocumentViewer/en/44-1/bill/C-315/
(4) https://www.parl.ca/DocumentViewer/en/44-1/bill/C-315/first-reading

Private Member Bills In Current Session:
(A) Bill C-207: Creating The “Right” To Affordable Housing
(B) Bill C-219: Creating Environmental Bill Of Rights
(C) Bill C-226: Creating A Strategy For Environmental Racism/Justice
(D) Bill C-229: Banning Symbols Of Hate, Without Defining Them
(E) Bill C-235: Building Of A Green Economy In The Prairies
(F) Bill C-250: Imposing Prison Time For Holocaust Denial
(G) Bill C-261: Red Flag Laws For “Hate Speech”
(H) Bill C-293: Domestic Implementation Of Int’l Pandemic Treaty
(I) Bill C-312: Development Of National Renewable Energy Strategy
(J) Bill S-243: Climate Related Finance Act, Banking Acts
(K) Bill S-248: Removing Final Consent For Euthanasia
(L) Bill S-257: Protecting Political Belief Or Activity As Human Rights

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Senate Bill S-243: Enacting The Climate-Aligned Finance Act, Changing CIB & Bank Of Canada Acts

This is Senate Bill S-243. It was introduced by Rosa Galvez to enact the “Climate-Aligned Finance Act”, and to permanently alter banking in this country. Few people outside Ottawa have heard of this, making it all the more frightening.

Keep in mind, Senators in Canada are not elected. They aren’t accountable to the public, and it’s virtually impossible to get them removed prior to the retirement age of 75. Heck, Patrick Brazeau, Mike Duffy and Pamela Wallin only got suspensions for taking advantage of their Senate accounts.

According to Wikipedia, Galvez was born in Peru in 1961, and worked for the Peruvian Government in the Ministry of Housing, before coming to Canada in 1986. Not only is Galvez not beholden to any electorate, but she’s a foreign national who worked for another country.

Going through the Federal Lobbying Registry, there are even more red flags. Galvez has been in contact with various N.G.O.s who have financial interests in seeing this pass. More on those connections later.

Now, what is this all about?

Climate-Aligned Finance Act
Enactment of Act
Enactment
2 The Climate-Aligned Finance Act is enacted as follows:

An Act to require certain financial and other federally regulated entities to mitigate and adapt to the impacts of climate change

Whereas there is a broad scientific consensus and high confidence that anthropogenic greenhouse gas emissions cause global climate change and present an unprecedented risk to the environment — including its biological diversity — to human health and safety, to economic prosperity and to the stability of the Canadian financial system;

Whereas the impacts of climate change — such as coastal erosion, thawing permafrost, increases in heat waves, droughts and flooding — and related risks to critical infrastructure and food security are being felt throughout Canada and are impacting Canadians and disproportionately affecting Indigenous peoples, low-income citizens and northern, coastal and remote communities;

Whereas the Parliament of Canada recognizes that it is the responsibility of the present generation to minimize the impacts of climate change on future generations;

Whereas the United Nations, Parliament and the scientific community have identified climate change as an issue of international concern that is unconstrained by geographic boundaries;

Whereas Canada has ratified the United Nations Framework Convention on Climate Change, done in New York on May 9, 1992, and in force as of 1994, and the objective of that Convention is the stabilization of greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic interference with the climate system;

Whereas Canada has ratified the Paris Agreement, done in Paris on December 12, 2015, and in force as of 2016, and the aims of that Agreement include holding the increase in the global average temperature to well below 2 degrees Celsius (2°C) above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.‍5 degrees Celsius (1.‍5°C) above pre-industrial levels, recognizing that this would significantly reduce the risks and impacts of climate change;

This would embed Treaties from the United Nations — including the Paris Agreement — into the financial sector. In it’s most blunt form, “climate change” could be used as an excuse to harm or cripple people or organizations that don’t play along.

Of course, this is one of those Bills that does not stand on its own. Instead, it will change other existing legislation in order to more broadly demand compliance. S-243 also amends:

  • Bank of Canada Act
  • Export Development Act
  • Financial Administration Act
  • Public Sector Pension Investment Board Act
  • Canada Infrastructure Bank Act
  • Net-Zero Emissions Accountability Act

Bank of Canada Act
3 The preamble to the Bank of Canada Act is amended by adding the following after the first paragraph:
.
And whereas the Bank of Canada must act in alignment with climate commitments;
.
4 The Act is amended by adding the following after section 18:
Alignment with climate commitments
18.‍01 The Bank may only exercise its powers under this Act in a way that permits it to be an entity that is in alignment with climate commitments as described in section 4 of the Climate-Aligned Finance Act.

Canada Infrastructure Bank Act
13 Section 7 of the Canada Infrastructure Bank Act is amended by adding the following after subsection (2):
Climate commitments
.
(3) The Board may only exercise its powers in a way that enables it and the Bank to each be an entity that is in alignment with climate commitments as described in section 4 of the Climate-Aligned Finance Act.

If passed in this form, the Climate-Aligned Finance Act would permeate all throughout the banking and finance sectors in Canada. In short, the financial sector would be subordinate to whatever the climate cartel demanded, at any given time.

Now, who’s pulling Rosa Galvez’s strings?

A quick search of the Federal Registry flags 167 hits for Rosa Galvez. Many of the them are climate related. Consequently, it’s fair to assume that these groups have had at least some influence in S-243.

  • Nature Canada lobbies for: United Nations Framework Convention on Climate Change-Kyoto protocol The Government of Canada is required to: prepare a Climate Change Plan; prepare a statement on GHG emissions; and ensure that Canada meets its obligations under the Kyoto Protocol
  • Ecojustice Canada lobbies for: A Biodiversity Accountability Act, and for a Canadian climate change accountability framework
  • Greenpeace Canada lobbies for: Policies to encourage Canadian financial institutions, including banks, to divest from fossil fuel, and Canada to move forward with a comprehensive plan to meet or exceed the Paris Accord Climate targets
  • Environmental Defence Canada lobbies for: Strengthening current government climate change plan, increasing resources for renewable energy and conservation and enacting regulations to reduce GHG from industry in Canada

Mark Carney, former head of the Bank of Canada, infamously said a few years ago that businesses that ignore climate change will go bankrupt. It wasn’t taken as the threat that it really is.

And from the looks of things, it will apply to the investments that pension plans make as well. Good to know that people’s retirements are tied up in all of this.

Now, we have an unelected Senator from Peru bringing in legislation that would considerably help make that threat a reality. Remember, even if this Bill doesn’t pass, it may one day be merged with a larger piece. How is any of this democratic?

(1) https://www.parl.ca/legisinfo/en/bills?chamber=2
(2) https://www.parl.ca/legisinfo/en/bill/44-1/s-243
(3) https://sencanada.ca/en/senators/galvez-rosa/
(4) https://www.parl.ca/DocumentViewer/en/44-1/bill/S-243/first-reading
(5) https://en.wikipedia.org/wiki/Rosa_Galvez
(6) https://lobbycanada.gc.ca/app/secure/ocl/lrs/do/advSrch
(7) https://lobbycanada.gc.ca/app/secure/ocl/lrs/do/vwRg?cno=441&regId=930717&blnk=1
(8) https://lobbycanada.gc.ca/app/secure/ocl/lrs/do/vwRg?cno=222662&regId=929510&blnk=1
(9) https://lobbycanada.gc.ca/app/secure/ocl/lrs/do/vwRg?cno=61&regId=924380&blnk=1
(10) https://lobbycanada.gc.ca/app/secure/ocl/lrs/do/vwRg?cno=13022&regId=924930&blnk=1
(11) https://www.theguardian.com/environment/2019/oct/13/firms-ignoring-climate-crisis-bankrupt-mark-carney-bank-england-governor

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OMERS And The Questionable Contracts With LifeLabs

June 23, 2021, LifeLabs received a $66.3 million contract from the Public Health Agency of Canada. It was originally for $28.8 million, but the terms were amended. The company had certainly negotiated other arrangements before, but this was big. The purpose of this one was testing kits for the “virus” that’s terrorizing the world. The Minister of Public Services and Procurement would oversee the issuing of such agreements.

It’s not just the vaccine contracts that are worth a lot of money. Testing kits may in fact be worth even more, given for frequently they are used. As such, it’s important to do a little due diligence on who’s being awarded these deals.

OMERS, the Ontario Municipal Employees Retirement System, and some of its organizations have been in the spotlight before, but this most recent time needs to be discussed. It has to do with certain contracts that Ottawa had awarded. Unsurprisingly, Global News hasn’t addressed this.

The federal government has awarded three companies with contracts worth up to $631 million in total for COVID-19 border testing and other screening services.
.
Public Services and Procurement Canada says Switch Health, LifeLabs and Dynacare are carrying out testing of international travelers entering Canada at airports and land border crossings.

Last week, the Federal Government announced some $631 million to be spent for virus testing kits. Notwithstanding that the pandemic is a hoax, and the tests useless, something else is noteworthy.

Anita Anand used to be the Minister of Public Services and Procurement. In short, it was her job to oversee large purchases made by the Canadian Government. Naturally, this requires a great deal of transparency and integrity. However, things may not be so simple.

Specifically, her husband, John Knowlton, helps run OMERS. As the name implies, it manages the pension plans for many Provincial workers. Unsurprisingly, it owns stocks and bonds in other companies.

Conflicts of interest — or even the apparent conflict — must always be avoided. And this one looks far too cozy to simply be an oversight. In fairness, it could be legitimate, but does raise real questions.

Knowlton’s position is awkward, to say the least. While he’s now a Director at OMERS, he held similar roles in LifeLabs and Teranet. OMERS has interests in both of them. His company will directly profit from extra contracts awarded for testing equipment. Blacklock’s reported on this issue earlier, and it was denied that there was any insider dealing involved.

Something else happened Provincially a few months back that requires our attention. It involved engaging in some influence peddling of Doug Ford by a longtime ONPC operative.

On August 5, 2021, Jim Burnett of the Pathway Group lobbied the Ontario Government on behalf of OMERS, his client. What was the nature of the lobbying? According to the Ontario Registry:

Ongoing discussions in connection with investment in LifeLabs, Teranet, and other related OMERS investments relating to diagnostic lab sector reforms and proposals for alternative service delivery models for statutory registries and associated particular government services as they arise.

In short, this meeting was about getting the Ontario Government to pump money into certain companies and by extension, OMERS. However, Burnett has quite the connected past.

  • Deputy Campaign Manager (2020, O’Toole CPC run)
  • Targeted Seat Manager (ONPC, Ford 2018)
  • Deputy Campaign Manager for Christine Elliott (ONPC run)
  • Campaign Chair for Kevin O’Leary (2016 CPC run)
  • Campaign Organizer for Patrick Brown (2015 ONPC run)
  • Working for Tim Hudak (ONPC 2000 to 2001)
  • Working for Ernie Hardeman (ONPC 2000)

In all honesty, this looks shady as hell. Burnett used his considerable political ties in order to advance the business interests of his new client. The fact that he was a handler for Erin O’Toole may be the reason that the CPC doesn’t seem to object to such procurement deals.

While Anita Anand seems to influence the purchasing Federally, there’s some activity going on in Ontario as well. Glad to know that everything is done above board. This happens elsewhere as well.

For what it’s worth, LifeLabs has been lobbying in B.C. as well, seeking more contracts. The company openly admits that OMERS may be impacted by the outcome there. The lobbyist, Michael Gardiner, is a former Provincial Director of the BCNDP. In case anyone is unaware, the NDP is currently in power in this Province.

In February 2021, Teranet paid the Saskatchewan Government a visit, to talk about purchasing a land registration system. This was done by Kory Teneycke, who currently acts as a handler for Doug Ford.

Whenever political connections are intertwined in purchases like these, it’s always beneficial to start asking questions. Now, this last subject is off topic, but needs a mention:

It’s never a good sign to be featured by the World Economic Forum. OMERS also plays along with the climate change scam. It claims that such considerations will be factored into all future decisions.

Climate change is one of the defining issues of our time. We believe that as institutional investors, we have an important role to play as the world transitions to a lower carbon economy. We are focused on growing sustainably, by developing partnerships across our portfolio and finding new investment opportunities that support the transition

OMERS has endorsed the Task Force on Climate-Related Financial Disclosures (TCFD) as it believes it is a helpful standard to deliver the information investors need to assess climate risk. We believe that engaging with our portfolio companies where climate change presents material risks, and striving to improve overall reporting and transparency, will enhance our understanding of the financial risks posed by climate change on our portfolio.

Like with other pension funds and investment companies, there appears to be a deliberate effort to embrace the green agenda laid out by Governments and their handlers. This happens even when it’s not necessarily what’s best for the plan holders.

Things are rarely as simple as they appear.

(1) https://www.blacklocks.ca/anands-husband-is-director/
(2) https://www.linkedin.com/in/anita-indira-anand-9857b229/
(3) https://globalnews.ca/news/8428125/covid-border-testing-rules-canada/
(4) https://www.linkedin.com/in/john-knowlton-aa0a55153/
(5) John Knowlton LinkedIn Profile
(6) https://www.linkedin.com/in/blake-hutcheson-55403218b/
(7) https://www.linkedin.com/company/borealis-infrastructure/
(8) https://www.omersinfrastructure.com/investments
(9) Knowlton OMERS Infrastructure – Investments
(10) https://www.omersinfrastructure.com/sustainable-investing
(11) https://www.weforum.org/organizations/omers
(12) Knowlton OMERS _ World Economic Forum
(13) https://www.sec.gov/comments/s7-05-18/s70518-3647325-162406.pdf
(14) https://lobbycanada.gc.ca/app/secure/ocl/lrs/do/advSrch
(15) https://lobbycanada.gc.ca/app/secure/ocl/lrs/do/vwRg?cno=16669&regId=911599
(16) https://lobbyist.oico.on.ca/Pages/Public/PublicSearch/SearchResults.aspx
(17) https://www.linkedin.com/in/jim-burnett-583a436b/
(18) Jim Burnett LinkedIn Profile
(19) https://www.linkedin.com/in/michael-gardiner-3b11726/
(20) Michael Gardiner LinkedIn Profile
(21) https://www.sasklobbyistregistry.ca/search-the-registry/registration-details/?id=18429fcc

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Canada Pension Plan Investment Board, And Some Of Their Holdings

The Canadian Pension Plan Investment Board is responsible for investing the money that gets taken from workers’ pay cheques. Now, what does this group actually invest in? The answers may be surprising, as it speaks to the direction they plan to take the fund.

COMPANY AMOUNT
3M Co. $51,203,000
Acceleron Pharma Inc. $85,000
Agios Pharmaceuticals Inc. $1,017,000
Alexion Pharmaceuticals $33,800,000
Alnylam Pharmaceuticals $1,329,000
Amicus Therapeutics $31,186,000
Arrowhead Pharmaceuticals $69,000
Biogen $3,749,000
Biohaven Pharmaceuticals $31,000
China Biologic Products $242,000
CVS Health Corp. $104,361,000
Cardiovascular Sys Inc. $1,339,000
Checkmate Pharmaceuticals $219,000
Eli Lilly & Co. $134,902,000
Fusion Pharmaceuticals $36,624,000
GW Pharmaceuticals $173,115,000
Gilead Sciences $85,944,000
HCA Healthcare $20,325,000
Healthpeak Properties Inc. $43,159,000
Horizon Therapeutics $688,000
Hutchison China Meditech $3,145,000
Ionis Pharmaceuticals $2,414,000
Johnson & Johnson $479,225,000
Ligand Pharmaceuticals $466,000
Magellan Health $5,683,000
Medifast Inc. $641,000
Medpace Holdings Inc. $15,813,000
Merck & Co. $379,344,000
Mirati Therapeutics $61,000
Moderna $75,193,000
Neurocrine Biosciences $752,000
Novavax Inc. $56,000
Opko Health Inc. (Sold off)
Orthofix Med Inc. $976,000
PTC Therapeutics $13,561,000
Pacira Biosciences $13,925,000
Pfizer Inc. $224,969,000
Phillip Morris $128,347,000
Physicians Realty Trust $5,618,000
Prestige Consumer Healthcare $1,022,000
Procter & Gamble $498,019,000
Quest Diagnostics $130,317,000
Reata Pharmaceuticals $323,000
Regeneron Pharmaceuticals $3,233,000
Royalty Pharma $5,420,000
Sabra Healthcare REIT $6,232,000
Sage Therapeutics $735,000
Sigilon Therapeutics $71,333,000
Starr Surgical Co. $21,247,000
Teladoc Health Inc. $4,796,000
Tenet Healthcare Corp. $14,267,000
Teva Pharmaceuticals $1,723,000
Theravance Biopharma $169,000
Thermo Fisher Scientific $198,939,000
Trevi Therapeutics $36,000
Trillium Therapeutics $1,431,000
Ultragenyx Pharmaceutical $1,000
United Therapeutics Corp. $413,000
Unitedhealth Group Inc. $1,067,720,000
Usans Health Sciences $5,867,000
Viatris Inc. $16,153,000
West Pharmaceutical SVSC $410,000
Zimmer Biomet $19,398

Aside from all of the stocks in pharmaceuticals and health care, the CPPIB has interests in many other organizations that will raise eyebrows. True, the “Great Reset” may be a massive conspiracy theory, but the investments here would suggest otherwise.

COMPANY AMOUNT
Alphabet Inc. $2,188,964,000
Amazon Inc. $779,986
American Express $134,979,000
Apple Inc. $979,811,000
Aramark $19,240,000
Autodesk $19,044,000
Bank of America $372,509
Bank of Montreal $62,350
Bank of Nova Scotia $216,553,000
Best Buy $12,943,000
Blackline Inc. $493,000
Blackrock $230,895,000
Blackstone $53,059,000
Boeing $70,565,000
Citigroup $319,809,000
Comcast Corp. $65,150,000
E-Bay $15,259,000
Equifax $135,602,000
Fox Corp. $4,632,000
Hewlett Packard $121,000
Home Depot $274,181,000
Icici Bank Limited $59,222,000
JP Morgan Chase $876,096,000
Mastercard Incorporated $2,236,387,000
Microsoft Corp $1,143,414,000
Molson Coors Beverage $8,593,000
NASDAQ $5,116,000
Newscorp $470,000
Paycom Software $993,000
Paychex Inc. $19,982,000
PayPal Holdings $228,341,000
Pinterest $611,000
Rogers Communications $1,500,000,000
Royal Bank of Canada $537,548,000
Shaw Communications Inc. $100,269,000
Shopify $244,903,000
Starbucks Corp. $32,580,000
Synchrony Financial $5,553,000
Target Corp. $29,903,000
Tesla Inc. $128,538,000
Toronto Dominion Bank $289,035,000
Transunion $37,293,000
Trip Advisor $1,468,000
Twitter Inc. $57,887,000
Uber Technologies $60,382,000
Verizon Communications $192,559,000
Visa Inc. $135,000
Vonage Holdings Corp $145,000
Walmart Inc. $245,483,000
Zoom Video Communications $5,807,000

For reference, Alphabet Inc. is the company that owns Google and its subsidiaries, such as YouTube. It seems that being major stakeholders in the business will have great influence over the social media censorship that Governments ask them to play. CPPIB holds over $2 billion. Difficult to say no to your biggest shareholders.

Additionally the CPPIB holds over $50 million in stock in Twitter. This platform has also been brutal when it comes to censoring views that contradict official pandemic or election narratives.

This is certainly quite in the interesting portfolio: pro-big pharma, and pro-Great Reset. However, there is a bigger and more fundamental problem that needs to be addressed: liabilities.

Year Value of Fund Inv Income Rate of Return
2010 $127.6B $22.1B 14.9%
2011 $148.2B $20.6B 11.9%
2012 $161.6B $9.9B 6.6%
2013 $183.3B $16.7B 10.1%
2014 $219.1B $30.1B 16.5%
2015 $264.6B $40.6B 18.3%
2016 $278.9B $9.1 6.8%
2017 $316.7B $33.5B 11.8%
2018 $356.B $36.7B 11.6%
2019 $392B $32B 8.9%

The CPPIB routinely crows about how well its investments do, and how the fund is worth hundreds of billions of dollars. The problem is that it has a screwy accounting system. Instead of taking into account all assets and liabilities, the health is determined by ability to meet current obligations. The fund has been properly accounted, and there is over $1 trillion in unfunded liabilities. This is money taken in an spent, for which it (should have been) paid out.

Most pension systems act as a ponzi scheme, where the only way to meet old obligations is with the infusion of new money. Clearly, such a system is unsustainable in the long term.

But hey, at least our investments in Pfizer, Moderna, Johnson & Johnson, Gilead, Eli Lilley and 3M are doing well. Good thing there is a “pandemic” to drive up demand for these products.

To hell with free speech and open media.
Big pharma is here to stay.

https://www.sec.gov/edgar/browse/
https://www.sec.gov/edgar/browse/?CIK=1283718
https://www.sec.gov/Archives/edgar/data/1283718/000110465921024475/xslForm13F_X01/infotable.xml
https://www.cppinvestments.com/the-fund/our-performance
https://canucklaw.ca/pensions-1b-unsustainable-underfunded-takes-money-out-of-canada/

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Ontario Teachers Pension Plan, And The Interesting Stocks They Own

https://twitter.com/ETFOeducators/status/1371865858046365704

The Elementary Teachers Federation of Ontario (ETFO) has publicly called for forcing masks on children, even those in kindergarten. However, not everything is as it appears. For example, the OTPP, the Ontario Teachers Pension Plan, owns $83 million in stock in 3M. This is a company that makes masks.

Also, an honourbale mention and shoutout to Stormhaven, who has covered this, and taken a different approach. Check that piece out as well, as it has lots of good information.

What else is in the OTPP (which includes both elementary and high school teachers)? Information on the holdings can be obtained for free at the U.S. SEC, the Securities and Exchanges Commission.

COMPANY AMOUNT
3M CO $83,000,000
Abbott Labs $355,000
Biogen Inc. $41,915,000
Eli Lilly & Co $1,110,000
Gilead Sciences $1,406,000
Globeus Med Inc. $513,000
Jazz Pharmaceuticals PLC $317,000
Johnson & Johnson $84,386,000
Medpace Holdings Inc. $393,000
Merck & Co. $406,000
Mersana Therapeutics $504,000
Moderna Inc. $970,000
Pfizer $599,000
Procter & Gamble $837,000
Regeneron Pharmaceuticals $736,000
Sarpeta Therapeutics $753,000
TEVA Pharmaceuticals $17,487,000
United Therapeutics Corp. $1,077,000
Vertex Pharmaceuticals $502,000
West Pharmaceutical SVSC $797,000

$83 million in 3M, a company that manufactures facemasks. This is one of those things that makes you go “hmmm….”, doesn’t it?

In addition to owning parts of companies involved in health care and pharmaceuticals, the OTPP has other interests in businesses that will also profit from extended lockdowns, and the “Great Reset”. Here are some of them:

COMPANY AMOUNT
Amazon Group $287,000
Apple $1,104,000
Bank of America Corp $579,000
Black Hills Corp $322,000
Blackstone Group $413,000
Costco Wholesale $943,000
Goldman Sachs $1,714,000
Home Dept $81,854
Kroger Co. $662,000
McDonald’s Corp. $81,651,000
Microsoft $244,167,000
PayPal Holdings $542,000
Pepsico $853,000
Rogers Communications $743,000
Shaw Communications $906,000
Tesla Inc. $561,455,000
Tri Pointe Group Inc. $1,118,000
Twitter Inc. $257,000
Verizon Communications $860,000
Visa Inc. $83,780,000
Zoom Video Communications $392,000

It’s not much of a stretch to see that the OTPP stands to benefit from lockdowns and the “Great Reset”. After all, they are heavily invested in industries and companies that will profit from the current situation.

In addition to owning part of 3M, this Pension Plan also owns considerable stock in Gilead Sciences, Eli Lilly, Merck, Moderna, Pfizer, Teva, and over $84 million in Johnson & Johnson. This could explain their support for the vaccine agenda. Then again, it could all just be a coincidence.

It could also be a coincidence that Jo Taylor, who’s in charge of the OTPP, has ties to the World Economic Forum. Likewise, it may just be happenstance that Mark Wiseman, who runs Blackrock (which owns SNC Lavalin), used to run the CPPIB, and helped set up the OTPP.

Read into it what you will.

(1) https://www.sec.gov/edgar/browse/?CIK=937567
(2) https://archive.is/EFPhz
(3) Submissions At End Of December 2020
(4) https://archive.is/PQnkQ
(5) SEC Filings, Total Pension Fund Assets, December 2020
(6) https://archive.is/SKUga
(7) https://www.weforum.org/agenda/authors/jo-taylor
(8) https://www.weforum.org/people/mark-wiseman

(9) Ontario Teachers, World Economic Forum
(10) Healthcare Of Ontario Pension Plan’s Holdings

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Healthcare Of Ontario Pension Plan (HOOPP) Owns Stock In Vaccines & Masks Being Pushed

The Ontario Science Table lists groups in the health care sector as its partners. Whether or not the individual members support this, and to what extent, the pensions of a lot of people are tied up in promoting their agenda.

HOOPP, the Healthcare of Ontario Pension Plan has some interesting medical holdings. This is at least according the SEC, or U.S. Securities and Exchanges Commission. While there is nothing inherently bad in investing in your own field, it will be driven by the way you want it to go.

The fund claims to have over $100 billion in net assets, or equity. Fair enough, let’s take a look at where some of that money is.

COMPANY AMOUNT
1Life Healthcare $540,000
3M Co. $462,000
Alexion Pharmaceuticals $34,891,000
Alnylam Pharmaceuticals $213,000
Alpha Healthcare Acquisition Corp $2,232,000
Amplitude Health Care Acquisition $930,000
Bausch Health Cos $2,366,000
Biogen Inc. $235,000
CVS Health Corp $32,871
Cytomx Therapeutics Inc. $835,000
Deerfield Healthcare Technology Acquisition $2,696,000
DFP Healthcare Acquisition $3,633,000
Gilead Sciences $6,420,000
HCA Healthcare $142,000
Healthcare Merger Corp. $1,019,000
Jazz Pharmaceuticals PLC $3,538,000
Johnson & Johnson $34,401,000
Livongo Health Inc. $6,169,000
Merck & Co. $6,221,000
Pfizer $38,467,000
Regeneron Pharmaceuticals $1,052,000

The individual companies weren’t named in the HOOPP paperwork, so a visit to the SEC was needed for that. For reference, Gilead is the manufacturer of Veklury, also known as Remdesivir, a drug (not a vaccine) to counter Covid-19. It was given interim authorization to be used in Canada. Janssen (which is owned by Johnson & Johnson) also has an authorized “vaccine” in Canada. So does Pfizer, which is partnered with BioNTech. Yes, these are the same companies.

As for the next group, this is on the list of things that will make you go “hmmm”. If health care workers in Ontario were expecting, or wanting, a shutdown of society, these would be the companies to invest in.

A serious question: does it come across as a conflict of interest when health care workers are pushing pharmaceuticals which their pension plans own stock in? And it gets stranger.

COMPANY AMOUNT
Alibaba Group Holdings $730,000,000
Alphabet Inc. $4,799,000
Amazon $18,848
Beyond Meat Inc. $151,000
Blackline Software $16,000
Blackrock $85,000
Blackstone Group $625,000
Broadcom Inc. $181,000
Coca Cola Co. $58,552,000
Dish Network Corporation $89,000
E-Bay $101,000
Facebook $24,022,000
Goldman Sachs $15,978,000
Grid Dynamics Inc. $4,676,000
Mastercard $427,644,000
Microsoft Corp. $298,081
Netflix $335,000
Nike $2,354
PayPal Holdings $378,000
Salesforce $2,746,000
Shaw Communications $6,386,000
Shopify $50,537,000
Starbucks $11,065,000
Visa $1,802,000
Walmart $13,148,000
Zoom Communications $216,000

HOOPP seems to be investing in everything that we need in order to have a cashless society, working from home, and an abundance of pharmaceuticals. But that’s probably just a coincidence.

While most of the profiles of the HOOPP leadership were privatized, a few were in the open. Some interesting details revealed in them.

Tanya Pereira is the Senior Director of Operations at HOOPP. She is also a Strategic Advisor at Andone Pharmaceuticals, during that same time period.

John Watson is the Director of Operations Support at HOOPP. He has also been charge of other pension plans. Early in his career, he was a records supervisor at Sick Kids Hospital Toronto, which gets significant funding from the Gates Foundation.

HOOPP claims to be pushing the ESG/green agenda pretty hard. So expect that they’ll only be investing in such companies that “appear” to be green, regardless of whether or not they actually are green. They sing the praises about sustainability and climate change. Most people have heard it all before.

As for the HOOPP owning stock in these vaccines and masks, and their members pushing them on the public, that is downright shady, to say the least. True, it’s the doctors and nurses themselves who market it to the lay person, but how does this look?

Is this ancient? According to the SEC, it covers the period up to December 31, 2020, and was filed on March 1, 2021. Now, it’s possible that these shares have since been sold, but the first interim authorizations were coming out before then. Again, how does it look?

IMPORTANT LINKS
(1) https://hoopp.com/
(2) https://hoopp.com/about-hoopp
(3) https://hoopp.com/investments/pension-plan-performance-and-hoopp-annual-report
(4) https://hoopp.com/about-hoopp/pension-leadership
(5) https://www.canada.ca/en/health-canada/services/drugs-health-products/covid19-industry/drugs-vaccines-treatments/authorization/list-drugs.html
(6) https://covid-vaccine.canada.ca/veklury/product-details
(7) https://covid-vaccine.canada.ca/janssen-covid-19-vaccine/product-details
https://www.sec.gov/Archives/edgar/data/1535845/000153584520000007/0001535845-20-000007-index.htm
https://www.sec.gov/Archives/edgar/data/1535845/000153584520000007/xslForm13F_X01/SEC13F09_2020.xml
https://archive.is/Kqazd

EARLIER IN THIS SERIES
(a) Michael Warner Financially Benefits From Prolonged Lockdowns
(b) Who Is Ontario Deputy Medical Officer, Barbara Yaffe?
(c) OST, Monopoly From The University Of Toronto Connected
(d) OST, University Of Toronto, Look At Their Members And Partners
(e) OST’s Robert Steiner Claims To Be Behind PHAC Canada Creation
(f) OST’s Kwame McKenzie Headed 2017 UBI Pilot Project
(g) OST UofT Prelude Actually Set Out In May 2019
(h) OST’s Murty Has Tech Firm That Benefits From Lockdowns
(i) OST: Como Foundation Gives Trillium Health Partners $5M
(j) OST: Current PHO Officials Also Sitting On As Partners
(k) OST: Canadian Agency For Drugs & Technologies In Health; pCPA
(l) OST: Centre For Effective Practice Gets Money From Lockdown
(m) OST: Cochrane Canada; WHO; McMaster University
(n) OST: SPOR Evidence Alliance Gets Funding From WHO