Dozens of public commenters urge WSIB to cut ties with weapons, fossil‑fuel and surveillance companies

During the board’s allotted public‑comment period, roughly two dozen speakers urged trustees to reduce or eliminate exposure to companies they said facilitate human‑rights abuses, fossil‑fuel extraction, or immigration enforcement.

Speakers repeatedly named companies held, in part, by the fund — including Caterpillar, Elbit Systems, Lockheed Martin, General Dynamics, Raytheon, Palantir and several banks — and urged divestment or additional screening. Ben Lucking told the board that continued investment “signals that dispossession of land and ethnic cleansing is normal” and urged action.

Union representatives such as Chris Selsa (WPEA) and Zenya Havalera (SEIU) called on the board to adopt stronger labor and asset‑manager standards, arguing private‑equity exposures have produced material governance and reputational risks. Several commenters cited recent actions by other public investors, including a state treasurer sale of Caterpillar holdings and large sovereign‑fund divestments, as precedent.

Several commentaries also raised climate risk and model‑uncertainty concerns. Barb Carey and others cited a University of Exeter study arguing common economic models understate climate damage and urged more robust stress testing and transparent assumptions for the board’s climate work.

Board members received the comments; staff noted the written submissions had been provided to trustees and that the board would take them into account as part of ongoing engagement and policy reviews. No board action or vote on divestment policy took place during the meeting.