The followingresolutions were passed at a general meeting of the Gulf Islands Teachers’Association, 2009 October 21

Resolution #1

That prior to June 2010, the BCTF advise the pension plan member partners' appointed trus­tees to investigate the revision of the BC Teachers' Pension Plan statement of investment policies and procedures, such that they reflect the socially re­sponsible investing principles articulated in 13.A.10, section 9.6 and 9.7, in the Members'Guide to the BCTF, and that they report back to the Fall 2010 Representative Assembly.

Supporting statement

Presently, BCTF member pension contributions can be and are invested in corporations that have as their business the provision of products or services for military use, nuclear forms of energy, pornography, and tobacco products. These products and services are inconsistent with the goals of the BCTF. This resolution would allow the BCTF members' pension contributions to be invested in socially responsible businesses and governments whose policies on envi­ronmental, social and governance issues are consis­tent with the goals and values of the BCTF. The cur­rent socially responsible investing policy mandates investment in corporations and governments that do not do business in tobacco products, pornography, military products and services, and nuclear energy, and that do business in ways that strengthen commu­nities, encourage progressive industrial relations with staff and employees, comply with environmental regulations, and avoid discrimination, cultural geno­cide, and the production and sourcing of products that involve child labour or sweatshops.

Resolution #2

That the BCTF recommend to its representatives on the Teachers' Pension Board of Trustees to oppose further investment of pension funds in corporations that earn revenue from the produc­tion or sale of tobacco products, and that they endeavour to have the pension fund divest itself of current holdings in companies that earn revenue from the sale of tobacco products immediately.

Supporting statement

The BCTF joint trusteed pension plan has a number of investments in conflict with the guidelines adopted at the 2005 AGM.  The negative screening process and the pension fund guidelines on responsible inv­esting have not resolved the situation. The resolution passed at the 2006 AGM called on the pension plan to eliminate investments in tobacco immediately.

Tobacco investments now account for more than $160 million in the pension plan. Many health au­thorities have banned the use of tobacco products and the industry has retaliated by targeting girls and women in its advertising, leading to a global epidem­ic in use by that target group. The issue of invest­ments in tobacco goes beyond ethical investing and is additionally a social justice issue. The costs to the healthcare system are monumental; pending lawsuits make tobacco a risky investment. Is tobacco really something with which teachers want to be associated?

Resolution #3

That, through a public education campaign and by lobbying the Teachers' Pension Board of Trus­tees, the Ministry of Finance, and other pension fund contributors, the BCTF exert pressure on the British Columbia Investment Management Corporation to adopt ethical guidelines based on those of the Norwegian Government Pension Fund, specifically the guidelines excluding com­panies that produce weapons, contribute to hu­man rights violations, and severely damage the environment.

Supporting statement

Given the BCTF's claim to be a social justice union, it is unacceptable that members' pension contribu­tions are used to fund companies that violate human rights and severely damage the environment. Nor is profit motive an excuse to continue investing in such companies.

As the Norwegian Government Pension Fund has demonstrated, profitability and ethical investment are fully compatible. At the same time, the Norwegian fund has divested of stocks in companies that do not meet its ethical standards. For example, Norway's pension fund no longer invests in Wal-Mart, due to that company's violations of human rights, and has excluded investments in Raytheon and General Dy­namics as a result of those companies' manufacture of cluster bombs.

Resolution #4

That the BCTF revise Article 6 (c) of the Teach­ers'Pension Plan Joint Trust Agreement with the Government of the Province of British Columbia to reflect this union's belief in ethical investing of pension funds. [Article 6 (c) now reads "... ensure that the moneys and assets of the Pension Fund are invested or loaned in the best fi­nancial interest of thePlan Members...”]

Supporting statement

The Teachers' Pension Fund is not living up to its fiduciary responsibilities if it doesn't take into con­sideration the broader social issues. As shareholders in the fund we have the right to assert our rights as owners and when the fund behaves in a way contrary to the stated policies and philosophy of our union we must take measures to correct that behaviour. A number of ethical investment plans have demon­stratedthat it is possible to get a return as good as or better than conventional schemes. As teachers we are held to a higher standard in our personal and profes­sional lives-- isn't it natural that this should extend to our pension investments as well?

Resolution #5

That the Annual General Meeting recommend to the Executive Committee that it appoint a com­mittee of three persons from the general member­ship by April 30, 2010 and that this committee meet with representatives of the Teachers' Pen­sion Plan, the College Pension Plan, the Municipal Pension Plan, the Public Service Pension Plan, and the WCB Pension Plan with a view to achiev­ing common goals of ethical investing. The com­mittee will make a report, including recommenda­tions, to the 2011 AGM.

Supporting statement

Presently the philosophy of social justice espoused by the trade union movement is in direct opposition to the British Columbia Investment Management Corporation's holdings in tobacco, weapons manu­facturers, pornography, private municipal and educa­tional services, polluting and unsustainable indus­tries, and financial institutions both directly and indi­rectly involved in the subprime mortgage market.  If changes to the investment policies are to happen and the pension fund is to move to an ethical model of investing,then all participants will have to work to­gether to achieve that common goal.