CPPIB

Canada Pension Plan Must Scrap Water Privatization Deal

Canada Pension Plan Must Scrap Water Privatization Deal

CUPE is demanding Canada’s public pension plan abandon projects to invest in a major water privatization scheme in Brazil. The Canada Pension Plan Investment Board is taking part in a massive selloff of public infrastructure being led by far-right President Jair Bolsonaro, while the country is being ravaged by COVID-19. The CPPIB has bought a 45 per cent stake in Igua Saneamento, a Brazilian private water and wastewater company. Igua Saneamento will use a portion of the CPPIB’s $270 million to buy a public water system being auctioned off in the state of Rio de Janeiro. The auction is scheduled to take place on April 30.