The Media Accountability Project  

Thanks for segment on ScotiaBank’s investment in unethical Israeli weapons company

"Thank you for your segment Saturday on ScotiaBank’s outsized investment in Elbit Systems entitled, “Activist investors question Scotiabank’s outsized investment in a controversial Israeli weapons company.”  The segment asked some great questions and helped the listener understand some important issues."

To:

Brent Bambury, Host, CBC Day 6

Gord Westmacott, Senior Producer, CBC Day 6

 

Dear Mr. Bambury & Mr. Westmacott,

I am writing to you on behalf of Canadians for Justice and Peace in the Middle East (CJPME, https://www.cjpme.org) to thank you for your segment Saturday on ScotiaBank’s outsized investment in Elbit Systems entitled, “Activist investors question Scotiabank’s outsized investment in a controversial Israeli weapons company.”  The segment asked some great questions and helped the listener understand some important issues.   

Murtaza Hussain was very articulate as he walked through the issues with the investment.  He was careful in his assertions, but nevertheless made clear that ScotiaBank’s investment in Elbit is highly unusual.  He also provided important and useful context regarding Elbit, the illicit aspects of its weapons trade, and its involvement in Israel’s military occupation of the Palestinian territories.  In fact, Hussain could have been much more colourful in his criticism of Elbit, given their deep involvement in Israel’s apartheid regime against Palestinians. 

I also feel it was unnecessarily charitable of you to quote ScotiaBank’s statement at the end of your broadcast.  If indeed they have a “fiduciary obligation to act in the best interests of their investors,” they should have been forced to account for their outsized and unethical investment in Elbit.  Giving them the last word – a “trust us” type of statement – was inappropriate, especially given their unwillingness to provide an interview directly to the issue.    

I encourage you to follow this story, and to continue to press for a transparent response or interview from ScotiaBank and/or David Fingold.  Banks and other investors should be pushed to be accountable to provide truly socially responsible investing.  Should you wish, feel free to contact me at 438-380-5410.

Sincerely,

Thomas Woodley, MPA

President, Canadians for Justice and Peace in the Middle East

 

 

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