Just Peace Advocates has found that as of 31 March 2026 (fiscal year end 2025/2026), the Canadian Pension Plan Investment Board had over $54 billion invested in 120 companies complicit in Israel’s genocide, war crimes, and apartheid.
This represents 6.9% of CPPIB’s total holdings in 25/26.
They're trying to fund our retirements by profiteering off mass murder.
I'm not okay with that. Are you?
I am writing today after having learned about CPPIB’s 2026 Annual Report. I am disgusted by what I have learned.
After the millions you spent on a cross-country consultation tour, you are ignoring every voice that cajoled and begged and pleaded that you not invest our money in genocide. We'll be happy to have smaller returns if it means our funds aren't causing children to die at the hands of a wanton, sadistic genocidal state.
An analysis of CPPIB’s holdings shows more than $54 billion invested in companies that are actively participating in illegal activities in occupied Palestinian territory. As of 31 March 2026 (fiscal year end 2025/2026), CPPIB had over $54 billion invested in 120 companies complicit in Israel’s genocide, war crimes, and apartheid. This represents 6.9% of CPPIB’s total holdings in 25/26. This includes 8 companies listed on the UN Database — 3 US companies (Airbnb, Booking Holdings, and Motorola Soutions) and 5 Israeli companies (Bank Hapoalim, Bank Leumi, Delek Group, Israel Discount Bank, and Mizrahi Tefahot Bank).
Further, as of the 25/26 fiscal year, CPPIB drastically increased its investments in complicit Israeli companies. CPPIB reported investments in 21 complicit companies that did not appear in either the 23/24 or 24/25 annual report. Of these 21 companies, 14 are Israeli companies (66%). The remaining are US (4) and Indian (3) companies. This shows a clear intention to expand investments in Israeli companies that are aiding and assisting Israel’s illegal occupation, genocide, and apartheid.
Over the past 3 years, CPPIB’s complicit investments have increased from $20.3 billion in 23/24, to $31.1 billion in 24/25, and to $54.8 billion in 25/26. Over the same period, Israel has been escalating its genocidal violence in the occupied Palestinian territory — both in Gaza, and the West Bank, including East Jerusalem. This does not occur by happenstance. It is possible through investments and financing, like that provided by the CPPIB.
Just last week, the Canadian government warned businesses not to bid for construction tenders in for Israeli settlement developments. Yet, at the same time, CPPIB invests in these companies and those financing Israel’s illegal settlement enterprise. These investments directly violate international law as they contribute to the maintenance of the unlawful occupation. CPPIB is materially aiding and assisting Israel in the commission of war crimes, genocide, and apartheid.
International humanitarian law (IHL) is binding on all actors where activity is closely linked to armed conflict, including business enterprises, even if they don’t take part in active hostilities. Investment managers who make investments in war-crimes-complicit companies are either wilfully blind or recklessly indifferent to the effect of their investments regarding war crimes, crimes against humanity, and ‘plausible’ genocide. Further, both corporations and individuals within them can be held accountable under domestic Canadian law. For example, CPPIB is liable for “aiding and abetting” war crimes under section 21 of the Canadian Criminal Code.
CPPIB has a legal obligation to end investments that contribute to maintaining Israel’s illegal occupation. Meanwhile, CPPIB chooses to increase its support. As a Canadian taxpayer, this implicates me. Your action make me actively complicit in Israel’s atrocity crimes. This must end. I demand divestment now.
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