fbpx
Connect with us

News

Canada Pension Plan invests heavily in Chinese propaganda film companies

And that comes even after the Commons censured China for genocide, accounts show.

mm

Published

on

Despite saying it would take steps not to invest in countries that abuse human rights, the Canada Pension Plan Investment Board holds millions’ worth of stock in Chinese propaganda film studios, says Blacklock’s Reporter.

And that comes even after the Commons censured China for genocide, accounts show.

“We believe that strong human rights practices contribute to long-term value,” the Board said in a mission statement five years ago.

“Engaging with companies in our portfolio on this topic is therefore an important part of our strategy.”

Documents reveal the board invested $7 million in Communist Party-licensed film studios.

Stock holdings included $4 million in China Film Co. Ltd., a state-run distributor that produced Amazing China, a film depicting “President Xi’s vision of a globally resurgent nation.”

“This is our great homeland,” said an official Party review of the film endorsed by the Communist Youth League.

“This is the new era. This is the magnificent painting of the people’s livelihood.”

The Board also holds $3 million in shares in Alibaba Pictures Group that produced The Eight Hundred, a Second World War film that “would seem to be Party-approved,” wrote The Hollywood Reporter.

The film’s epilogue states the war was “ultimately won by a Communist-led resistance.”

Filmgoers’ reviews on Amazon.com rated The Eight Hundred “the worst movie I’ve ever wasted $6 on,” “full of propaganda,” “typical censor-approved garbage spewed by a Communist regime.” “That’s 2 hours and 27 minutes of my life I’ll never get back,” wrote one reviewer.

Other Alibaba movie releases include My People, My Homeland that “centres on a patriotic theme,” Coffee Or Tea that “praises China’s young people’s spirit of innovation and persistence in entrepreneurship,” and Leap, described by the state-run press as a film celebrating “national glory” of the China women’s volleyball team.

The Pension Plan Investment Board held Chinese film studio stock even as the Commons last February 22 voted 266-0 to censure China for crimes against humanity. The vote marked the first time Parliament recognized ongoing atrocities under the United Nations Convention On The Prevention And Punishment Of The Crime Of Genocide. Previous votes targeted historic atrocities like the Nazi holocaust.

“We need to move forward, not just as a country but as a world, on recognizing the human rights violations that are going on in China,” Prime Minister Justin Trudeau earlier told reporters.

“This is an issue that matters deeply to me, to all Canadians.”

The film investments followed millions spent by the board on Chinese coal companies despite its public statements on climate change.

“We do believe climate change is happening and we do believe it’s a major risk,” then-CEO Mark Machin testified at June 11, 2020 hearings of the Commons finance committee.

The Board at the time held $141 million in Chinese coal stocks, including shares in China Shenhua Energy Co., the largest state-run coal mining company in the People’s Republic.

Pension Plan investment managers have since sold most of their Chinese coal shares, but continue to hold $1 million in China Coal Energy Co., operator of 12 mines.

Machin abruptly quit his $5.9 million-a-year post last February 25 following disclosures he defied travel bans to fly to the United Arab Emirates for a COVID-19 vaccination.

Dave Naylor is the News Editor of the Western Standard
dnaylor@westernstandardonline.com
Twitter.com/nobby7694

Dave Naylor is the News Editor of the Western Standard and the Vice-President: News Division of Western Standard New Media Corp. He has served as the City Editor of the Calgary Sun and has covered Alberta news for nearly 40 years. dnaylor@westernstandardonline.com

Continue Reading
3 Comments

3 Comments

  1. Left Coast

    July 11, 2021 at 9:22 am

    Justin just luvs the CCP . . .

    The “PlanDemic” was the response to the USA crushing China with Tariffs in 2019 . . . and most of the Wealthy Class was onboard as they are all heavily invested in China.

    The Gorebull Warming scam is another way to crush the Western Democracies . . . China is doing the opposite as is India and others.

    The cost of going net-zero for China exceeds seven to fourteen percent of its GDP. Instead, China uses green rhetoric to placate westerners but aims for development with 247 new coal fired power plants. China now emits more greenhouse gases than the entire rich world.3

    Most other poorer countries are hoping to follow China’s rapid ascendance. At a recent climate conference, where dozens of high-level delegates dutifully lauded net-zero, India went off-script. As other participants squirmed, power minister Raj Kumar Singh inconveniently blurted out the truth: net-zero ‘is just pie-in-the-sky.’ He added that developing countries will want to use more and more fossil fuels and ‘you can’t stop them.’

    Bjorn Lomborg notes, “If we push on with our climate doublethink, rich people will likely continue to wring their hands and aim for net-zero, even at considerable costs to their own societies. But three-quarters of future emissions come from poorer countries using what they regard as the more important development priorities of avoiding poverty, hunger and disease.” 3

    China’s latest five-year plan increases investment in coal and omits any cap on total energy consumption. This leads to the observation that ‘the central contradiction between expanding the smokestack economy and promoting green growth appears unresolved.’ The lack of a cap on total energy consumption was a notable exclusion.

    Coal remains at the heart of China’s flourishing economy. In 2019, 58 percent of the country’s total energy consumption came from coal, which helps explain why China accounts for 28 percent of all global CO2 emissions. And China continues to build coal fired power plants at a rate that outpaces the rest of the world combined. In 2020, China brought 38.4 gigawatts of new coal fired power into operation, more than three times what was brought on line everywhere else. 5

    A total of 247 gigawatts is now in planning or development, nearly six times Germany’s entire coal fired capacity. China has also proposed additional new coal plants that, if built, would generate 73.5 gigawatts of power, more than five times the 13.9 gigawatts proposed in the rest of the world combined. Last year, Chinese provinces granted construction approval to 47 gigawatts of coal power projects, more than three times the capacity permitted in 2019.

    In spite of all this, China publicly demands the USA fulfill Obama’s Paris Agreement pledges, and makes a big deal of their conversion to green energy. However behind the scenes the Chinese green scene is starting to look like a gigantic coal plant construction exercise.

    While China is building coal plants around the world, the United States is shuttering its coal fired power plants, despite having, by far, the world’s largest supply of coal. Between January 2017 and May 2019, the United States shuttered 50 coal fired plants, with 51 more shutdowns announced, bringing the total shutdowns to 289 since 2010.

    https://canadafreepress.com/article/coal-plants-expanding-world-wide-not-so-in-the-united-states

  2. Eldon

    July 10, 2021 at 9:01 am

    I agree with you Steven. This country is on a downward path to communism. Our pension money should never be put at risk by investing in communist countries. Particularly China!
    The pm and his posse have only destroyed this country. Yet, he will be elected again. The way forward is for the West to separate. As the conservatives under O’toole are a lost cause.

  3. Steven

    July 9, 2021 at 9:42 am

    An Alberta Pension Plan would have more control over asset allocation. Premier Kenney isn’t the one to get that done, never will be.

    China would be the last place I’d put any money or buy on the Chinese exchange. Foolish of the Canada Pension Plan to put Canadian pensions at risk & support a communist regime while it steals our Canadian research to boot.

    Prime Minister Trudeau’s love of China, I suspect, is a catalyst in this and a betrayal of his duty to protect Canada.

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Judge says military accounting a major mess

Defence lawyers in the case argued army accounting was so incompetent all evidence of theft was circumstantial.

mm

Published

on

A judge in Nova Scotia says he has no doubt Canadian Armed Forces money was swiped, but military bookkeeping is so terrible he can’t say how much.

Blacklock’s Reporter said the money was discovered to be stolen from Sydney, N.S. Garrison after an internal audit faulted the Department of National Defence for mismanagement of money-losing golf and curling clubs.

In convicting a former manager of theft, Nova Scotia Provincial Court Judge Peter Ross said he was “convinced beyond a reasonable doubt” that tens of thousands of dollars were stolen from the Sydney Garrison, but had to estimate the loss at $28,000 due to “lax accounting practices” and “sloppy recordkeeping.”

Defence lawyers in the case argued army accounting was so incompetent all evidence of theft was circumstantial.

“There are too many holes in the bucket,” the Court was told.

David Mullins, a former Department of Public Works manager, was found guilty of theft. Mullins worked as manager of the Sydney Garrison Messes for two years handling food and liquor sales, hall rentals, petty cash, bank deposits and inventory.

Court was told bookkeepers in Halifax became alarmed when the Garrison started “going into the red” and reporting bank deposits for $4,700 “deemed suspicious because it was such a round number.”

Forensic accountants found the Garrison “did not have working cash registers” and discovered $2,800 in banknotes in a filing cabinet.

“If bottles are missing, cost is what matters,” testified Roberta Sullivan, a forensic accountant with the Department of Public Works.

“If cash is missing, retail value is what matters.”

The Garrison Messes were managed by the Canadian Forces Morale and Welfare Services branch, the same division responsible for operations of 39 military-owned sports clubs nationwide.

An earlier Non-Public Property Audit Of Special Interest Activities found the clubs lost $2.7 million annually.

The review found military clubs sold memberships to the general public in direct competition with the private sector.

“Policy dictates the combined non-military membership at a special interest activity shall not exceed 50% of the total membership,” said the report.

“Several special interest activities have requested exceptions to this, citing financial sustainability.”

“Policies require special interest activities to operate as businesses with the goal of being financially sustainable.”

“Sustainability” was widely interpreted, the report added, with unnamed club managers found to “interpret a net loss as acceptable” as long as it was subsidized by the Department of National Defence.

Dave Naylor is the News Editor of the Western Standard
dnaylor@westernstandardonline.com
Twitter.com/nobby7694

Continue Reading

News

Civil service mag promotes immunization passports

Any mandatory scheme would see Canadians required to carry proof of vaccination to eat at a restaurant, visit a shopping mall or go to a baseball game, said the magazine.

mm

Published

on

A magazine for Canadian public service managers says the country must introduce vaccine passports, says Blacklock’s Reporter.

“The immunity of the population is detrimental for the safe reopening of the economy and various jurisdictions across the world are exploring the idea of immunity certificates as an enabler,” said a commentary in Canadian Government Executive, a periodical published for federal public service managers.

“After a rigorous analysis of the issue of immunity certificates, this article concludes the necessity of immunity certificates in Canada as a key enabler for the safe reopening of the society and economy in a post-Covid world.”

Any mandatory scheme would see Canadians required to carry proof of vaccination to eat at a restaurant, visit a shopping mall or go to a baseball game, said the magazine.

“They can also be used to promote economic activities such as workplace safety, tourism etcetera,” said the periodical.

The magazine acknowledged Canadians were divided on the issue and numerous foreign jurisdictions have banned vaccine passports.

“It is important to note in the United States several states such as Florida, Texas, Arizona etcetera have either banned or prevented the mandatory use,” said the commentary.

Privacy Commissioner Daniel Therrien in a May 19 statement said vaccine passports breached the Privacy Act since they compelled users and non-users alike to disclose personal health information to access public facilities.

“There must be clear legal authority for introducing use of vaccine passports,” said Therrien, adding Parliament would require “a newly enacted public health order or law” before any mandatory scheme could be introduced.

Prime Minister Justin Trudeau in a January 14 podcast called it a divisive issue.

“I think the indications that the vast majority of Canadians are looking to get vaccinated will get us to a good place without having to take more extreme measures that could have real divisive impacts on community and country,” said Trudeau.

“I think it’s an interesting idea but I think it is also fraught with challenges. We are certainly encouraging and motivating people to get vaccinated as quickly as possible. We always know there are people who won’t get vaccinated, and not necessarily through a personal or political choice.

“There are medical reasons. There are a broad range of reasons why someone might not get vaccinated. I’m worried about creating undesirable effects in our community.”

Federal research shows about 12% of Canadians would refuse a COVID-19 vaccine under any circumstances. A total of 26% said they did not trust the Public Health Agency, according to the Statistics Canada report.

Dave Naylor is the News Editor of the Western Standard
dnaylor@westernstandardonline.com
Twitter.com/nobby7694

Continue Reading

News

Canada Post to make bank on lending operations

The union said loans would be issued in a test project at post offices in Halifax and Bridgewater, N.S. and surrounding rural areas, as well as Calgary and Red Deer by year’s end.

mm

Published

on

“A roll of stamps and $30,000 please.”

That will soon be possible as, for the first time in 53 years, Albertans will be able to go to the post office for a loan.

Blacklock’s Reporter said Canada Post on Thursday confirmed outlets in Alberta and Nova Scotia will broker cash loans for the Toronto Dominion Bank.

“The market test goal is to offer the new financial service in over 249 Canada Post locations before the end of 2021,” the Canadian Union of Postal Workers said in a statement.

Post offices would offer Toronto Dominion loans of $1,000 to $30,000 at “competitive rates.”

Post offices currently sell money orders, gift cards and process electronic cash transfers but disbanded deposit-taking postal banks in 1968.

The union said loans would be issued in a test project at post offices in Halifax and Bridgewater, N.S. and surrounding rural areas, as well as Calgary and Red Deer by year’s end.

“CUPW continues to support the creation of an independent postal bank despite our current partnership with Toronto Dominion Bank,” said the union.

“Partnering with a financial institution does not put an end to the goal of an independent postal bank.”

Parliament in an 1867 Postal Act allowed post offices to hold cash deposits and offer cheque-cashing services. Postal banks at their peak in 1908 held the equivalent of a billion dollars on deposit.

A 2016 Department of Public Works survey found 39% of small business owners nationwide, and 44% on the Prairies, said they would use Canada Post banking services if offered.

The department paid $142,137 for the study by Ekos Research Associates Inc.

“I think Canada Post is very open to increased financial services, not necessarily ‘postal banking’,” Brenda McAuley, national president of the Canadian Postmasters and Assistants Association, said in an earlier interview.

“I think the word ‘banking’ scares a lot of people. The banks don’t think it is necessary.

“There are islands in British Columbia where people have to take a ferry to get to a bank. We will look at pilot projects. I’ve got quite a few places on my radar.”

Canada Post in its 2020 Annual Report said it was “reinventing our retail model” at 6,084 post offices nationwide, including “assessing new financial services and options” mainly in rural Canada.

“Our vast retail network of post offices and dealer outlets across the country provides convenient locations and services with many of them offering evening and weekend hours to meet the changing needs of Canadians,” wrote management.

Jessica McDonald, then-chair of the Canada Post board, in 2018 testimony at the Commons government operations committee said the Crown corporation was “very open-minded” on resuming postal bank services.

“Postal banking has been under a tremendous amount of discussion and continues to be,” said McDonald.

Dave Naylor is the News Editor of the Western Standard
dnaylor@westernstandardonline.com
Twitter.com/nobby7694

Continue Reading

Recent Posts

Recent Comments

Share

Petition: No Media Bailouts

We the undersigned call on the Canadian government to immediately cease all payouts to media companies.

170 signatures

No Media Bailouts

The fourth estate is critical to a functioning democracy in holding the government to account. An objective media can't maintain editorial integrity when it accepts money from a government we expect it to be critical of.

We the undersigned call on the Canadian government to immediately cease all payouts to media companies.

**your signature**



The Western Standard will never accept government bailout money. By becoming a Western Standard member, you are supporting government bailout-free and proudly western media that is on your side. With your support, we can give Westerners a voice that doesn\'t need taxpayers money.

Share this with your friends:

Trending

Copyright © Western Standard New Media Corp.