U.S. environmental group lobbies Canadians to pressure CPP over ownership of Colorado oil firm
A U.S. environmental group is making a direct appeal to Canadians for help in persuading the Canada Pension Plan to end its investment in a Colorado-based oil and gas company.
In a five-minute YouTube video by an organization called 350 Colorado, residents of Boulder ask Canadians to pressure CPP Investments, which manages billions of dollars for the Canada Pension Plan, to stop investing in Crestone Peak Resources, which they accuse of polluting their air and water.
In the video, the group claims that Crestone Peak has drilled hydraulic fracturing wells close to schools and playgrounds.
CPP Investments says it expects the management of its companies to achieve very high standards of conduct, well above and beyond legal requirements.
It says Crestone Peak has reached agreements with local governments regarding the safety of its operations, and that it works to respect the environment and minimize impacts on the community.
CPP Investments owns about 95 per cent of Denver-based Crestone Peak, which was formed in 2016 and focuses on the acquisition, exploration, development, and production of oil and gas reserves in the Rocky Mountain region.