Story of the Week: April 2023

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News Release: InvestNow to Canada’s Big Banks: Stop Your Anti-Energy Policies; They Hurt Canada
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News Release: InvestNow to Canada’s Big Banks: Stop Your Anti-Energy Policies; They Hurt Canada

TORONTO, CANADA: InvestNow has presented shareholder proposals at three top Canadian bank AGMs asking them to commit to invest in, and finance, the Canadian oil and gas sector, and step away from policies that hurt the sector – policies like a commitment to Net Zero. Gina Pappano, InvestNow’s Executive Director presented shareholder proposals at BMO, CIBC and TD. InvestNow urged shareholders to vote FOR the proposals. “The Banks have never seen shareholder proposals like these ones,” said Pappano. “Too often radical environmental activists get their voices heard at leading AGMs, and advance agendas that hurt shareholder interests and those of Canada as a whole. We wanted to get the other side of the narrative out there and heard. The oil and gas sector is central to Canada’s economy and prosperity. Investing in the sector is investing in the industry that fuels everything we do.” “Boards of Directors, executive management teams and shareholders need to hear why investment is good for Canada and divestment is bad. Divesting from oil and gas means severely damaging our economy. It means the growing global demand will be met by other, less environmentally-friendly suppliers. In doing this, emissions will actually go up and environmental performance will go down.” “We want Canadian banks to “stick to their knitting” by investing in and financing Canadian oil and gas. The sector is essential for the functioning of the economy, for jobs, for innovation and for global emissions reductions.” “Our shareholder resolutions did not pass but we will be back next year,” said Pappano. Gina Pappano presented the InvestNow Shareholder Proposals at the AGMs of CIBC (April 4, 2023), BMO (April 18) and TD (April 20). RESOLVED: That (the Bank) make clear its commitment to continue to invest in and finance the Canadian oil and gas sector. And further that (the Bank) conduct a review of any and all of its policies to ensure that there are none that have the effect of encouraging divestment from the sector.

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InvestNow Inc. is a not-for-profit dedicated to demonstrating that investing in Canada’s resource sectors helps Canada and the world. Join the movement and pass the InvestNow resolution at sdin.ca. For more information contact Gina Pappano, Executive Director 1-647-812-6549 info@sdin.ca www.sdin.ca   Press Release - PDF Version
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Remarks Delivered By Gina Pappano At The CIBC Annual General Meeting Of Shareholders
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Remarks Delivered By Gina Pappano At The CIBC Annual General Meeting Of Shareholders

Toronto, Ontario April 4, 2023 Thank you for the opportunity to present today. I am asking CIBC for an explicit commitment to continue to invest in and finance the Canadian oil and gas sector, and for a clear signal that the bank will step away from policies, like Net Zero, that hurt the sector. I am a shareholder, I have worked in capital markets, I am a daughter of factory-worker immigrants, I am a mother who cares about her children’s future. And unless you change your tune, you will hurt Canadians. The oil and gas sector is central to Canada’s economy and prosperity. Investing in the sector is investing in an industry that fuels everything we do. It means investing in the livelihoods not just of the hundreds of thousands who work in the sector, but the millions – that is all of us – who depend on it for heating and eating and driving to work and really for every aspect of life. Divesting from oil and gas means severely damaging our economy. It means the growing demand around the world will be met by other, less responsible, less environmentally-friendly suppliers. It means emissions will actually go up, and environmental performance will go down. It means we will see more hardship for everyday Canadians as our economy will be hobbled, businesses and industry will shut down, people will lose their jobs, and energy poverty will grow. All while watching the demand for oil and gas being supplied by countries other than Canada. Why would a bank and its shareholders want to commit to that? On Net Zero, the bank should step back. The federal government Net Zero target is not a legal obligation. Adherence to anti-oil and gas investment policies like Net Zero suggest that the banks think that oil and gas extraction, development and use are not essential. This couldn’t be more wrong. Nothing happens without oil and gas. It is time for the banks to “stick to their knitting” by investing in and financing oil and gas. This sector is essential for the functioning of the economy, for jobs, for innovation and for global emissions reductions. I am urging you to VOTE FOR Proposal #3. CIBC should invest in Canadian oil and gas for the good of the economy, the environment, shareholders and all Canadians. Thank you. ### InvestNow Inc. is a not-for-profit dedicated to demonstrating that investing in Canada’s resource sectors helps Canada and the world. Join the movement and pass the InvestNow resolution here. For more information contact Gina Pappano, Executive Director by phone at 1-647-812-6549, or by email at info@sdin.ca.   Press Release - PDF Version
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InvestNow fights against banks pulling out of Canadian Oil and Gas – will address CIBC AGM today
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InvestNow fights against banks pulling out of Canadian Oil and Gas – will address CIBC AGM today

TORONTO, CANADA: InvestNow has filed shareholder proposals at three top Canadian banks asking them to commit to invest in, and finance, the Canadian oil and gas sector, and step away from policies that hurt the sector – policies like a commitment to Net Zero. Gina Pappano, InvestNow’s Executive Director will be presenting the shareholder proposal at CIBC’s AGM today. InvestNow is urging shareholders to vote FOR the proposal. “The oil and gas sector is central to Canada’s economy and prosperity,” said Pappano. “Investing in the sector is investing in an industry that fuels everything we do. It means investing in the livelihoods not just of the hundreds of thousands who work in the sector, but all of us who depend on it for heating and eating and driving to work.” “Divesting from oil and gas means severely damaging our economy. It means the growing global demand will be met by other, less environmentally-friendly suppliers. Then, emissions will actually go up and environmental performance will go down.” The adherence to anti-oil and gas investment policies like Net Zero suggest that the banks think that oil and gas extraction, development and use are not of essential value. “This couldn’t be more wrong. Nothing happens without oil and gas,” said Pappano. If banks continue on the divestment path from the sector, we will see more hardship for everyday Canadians. Our economy will be hobbled, factories will shut down, people will lose their jobs, energy poverty will grow. All while watching the demand for oil and gas being supplied by countries other than Canada. Why would a bank and its shareholders want to commit to that? “The shareholder proposals we filed are meant to urge the banks to invest in Canadian oil and gas for the good of the economy, the environment, shareholders and everyday Canadians,” said Pappano. Gina Pappano will present the InvestNow Shareholder Proposals at the AGMs of CIBC (April 4, 2023), BMO (April 18) and TD (April 20). For information on how to watch these AGMs, contact Gina Pappano. RESOLVED: That (the Bank) make clear its commitment to continue to invest in and finance the Canadian oil and gas sector. And further that (the Bank) conduct a review of any and all of its policies to ensure that there are none that have the effect of encouraging divestment from the sector. ### InvestNow Inc. is a not-for-profit dedicated to demonstrating that investing in Canada’s resource sectors helps Canada and the world. Join the movement and pass the InvestNow resolution here. For more information contact Gina Pappano, Executive Director by phone at 1-647-812-6549, or by email at info@sdin.ca.   Press Release - PDF Version
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