At a time when the Chilean public has taken to the streets in defence of public services, the Ontario Teachers' Pension Plan has increased its investments in private water in Chile.
The Council of Canadians finds this deplorable. In a new wave of privatization that began in December 2010, the Chilean government sold off most its shares in water utilities. There is currently only one public water utility remaining in the entire country. Notably, amidst the protests in defence of public education that have been ongoing since April, the Ontario Teachers' Pension Plan this July increased its ownership of ESSBIO from 51.1 per cent to 89.5 per cent and ESVAL from 69.8 per cent to 94.2 per cent. The Council of Canadians sent a letter to nearly 700 teachers today, urging that they contact the Ontario Teachers' Federation, which sits on the Pension Plan Investment Board and express their objection to this unconscionable use of the pension fund of teachers in Ontario.
To read the letter, please go to: http://canadians.org/publications/subscribe/enews/2011/OTPP.html
If you are a member of the Ontario Teachers' Federation, please sign the pledge in support of public water and sanitation services in Chile at: www.canadians.org/OTPP-pledge