No Profits from Palestinian Death
Ontario Teachers Demand Pension Plan Divestment from Israeli War Crimes
We are a group of Ontario Teachers Pension Plan (OTPP) beneficiaries deeply disturbed that our pensions are being invested in weapons manufacturers who directly contribute to and profit from Israel’s attacks on Palestinians in Gaza.
Israeli attacks have killed or wounded more than 100 thousand Palestinians. Of the 30 thousand killed the majority – 20 thousand – are women and children.
Israel continues to defy a unanimous security council resolution calling for a ceasefire and defy an international court of justice order to ensure the provision of humanitarian aid in Gaza.
The most respected human right organizations in the world – including the UN, Amnesty International, Human Rights Watch, and B’Tselem – have documented multiple war crimes committed by the Israeli Military (see here here here here here and here) which is being provided weaponry and components by the following OTPP invested companies: Raytheon, Textron, and General Electric. (See details of each company’s involvement below).
As Ontario teachers we have spent much of our lives committed to the express duty mandated by the Teachers Profession Act to “promote respect for human rights” and to “critically examine the issue of the impact of militarism and war on children” (OTF Bylaws).
These OTPP investments are directly complicit in the killing of over 12,000 children in Gaza, leaving thousands more with life altering physical and mental injuries, so it is very much our duty – and that of every OTF affiliate leader – to demand the plan divest from these companies immediately.
Ontario teachers and Ontario Teachers Pension Plan members — Take action here to demand your pension plan stop funding and profiting from Israeli war crimes:
The companies arming Israel that the OTPP is investing in
General Electric: The world’s 25th largest weapon manufacturer, General Electric manufactures T700 Turboshaft engines for Boeing’s Apache helicopters which are currently being used to fire missiles on Gaza.
Raytheon (RTX): The world’s second-largest military company, RTX (formerly Raytheon) manufactures missiles, bombs, components for fighter jets, and other weapon systems used by the Israeli military against Palestinian civilians. Notably, RTX supplies the Israeli Air Force with guided air-to-surface missiles for its F-16 fighter jets, as well as cluster bombs and bunker busters, which have consistently been used against Gaza’s civilian population and infrastructure.
On an Oct. 24 call with investors, RTX CEO, Greg Hayes, said, “I think really across the entire Raytheon portfolio, you’re going to see a benefit of this restocking.” He later added: “Our focus right now is how do we support the Israeli Defense Force? How do we make sure that they have what they need to be able to defend their country.”
Textron: A US-based military contractor known for its Bell, Beechcraft, Cessna, and Hawker aircraft brands. The Israeli Air Force 100 Squadron, which has supported Israel’s military ground troops in Gaza, uses multiple Textron aircraft, including the Beechcraft King Air, Queen Air, RC12-D Guardrail, and Bonanza A-36.
More information on the OTPP's duty to divest
Our duty to “respect human rights” requires us to listen to the International Court of Justice, and the hundreds of international human rights law and genocide scholars who have said Israel is very likely using these weapons to commit genocide.
These investments are a direct violation of the express policy of multiple plan affiliates. OSSTF policy states explicitly that:
Pension plans to which OSSTF/FEESO members contribute should not invest in companies that contribute to killing, torture, deprivation of freedom, or other violations of human rights.
OECTA policy says:
Wherever possible and reasonable the plan [should] not invest in corporations or their subsidiaries, domestic or foreign, that produce munitions, armaments, or technologies of war, and [should] divest itself of any current holdings in said corporations.
While the weapons and components these companies make and sell to Israel don’t fall within those already excluded by the OTPP and its “responsible investment” policies, OTPP has committed to “an ongoing process to identify and assess companies associated with severe controversies.”
Is there any controversy more severe than Genocide?
We are well aware of the Plan’s claim that it is more effective in addressing human rights issues through “engagement”. We are also well aware of the plan and plan custodian’s “fiduciary duty” to beneficiaries.
However, the plan itself admits that some investments create “irreconcilable risks”. Indeed, it’s for this reason the plan has excluded Tobacco companies, judging that the moral and reputational risks outweigh the financial benefits.
The murder of children and the crime of genocide, while clearly profitable, are irreconcilable to the long term best interests of Ontario teachers.
It is time for the OTPP to fulfill its moral and regulatory duties and divest from Raytheon, Textron, and General Electric immediately.
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