Following the oil pipeline divestment file with Desjardins…

EIG has been engaging Desjardins on the topic of oil sands divestment since April 2018. In December 2018, looking ahead to the Desjardins Annual General Meeting (AGM) in March 2019, EIG sent a follow-up letter on the topic to Gérald Larose, President of the Board of Governors, and to Marc Picard, Director General of our Caisse d'économie solidaire. We requested that the Caisse d'économie solidaire present to Desjardins Group, a notice of preliminary proposal concerning the financing of oil sands pipelines. The objective is that this resolution be adopted during the upcoming AGM of Desjardins Group. The resolution requests that Desjardins Group, as well as the Caisse, ensure that it respects the rights of First Nations people and protect water and global climate by committing to permanently ending the financing of and investments in oil sands pipelines.

Having received no response in early March EIG sends an email to the same people (Mr Larose and Mr Picard), requesting confirmation about their intention to submit a proposal about divestment from oil sands pipeline financing in the March AGM. This time Mr Picard responds, assuring EIG that the Caisse d’économie solidaire shares our objectives and maintains pressure on Desjardins Group in order to promote them. He notes that that the proposal was submitted as an agenda item but that it was not retained for reasons of conformity. He mentions an upcoming Desjardins-Group-wide activity focused on environmental issues scheduled for the spring of 2019 and promises to keep EIG abreast of developments.

We’ll keep you posted! See our website for the detailed history of exchange between EIG and Desjardins on divesting.