Recently we heard of an interesting example of “consumer advocacy” which turned the tables on a wind company targeting their most sensitive and vulnerable parts – access to capital markets and investors. Read on:
I met with my financial adviser and he met with the financial manager of a stock portfolio, who phoned the senior manager of an equity portfolio who set up a phone meeting with me and my financial adviser. We had an hour long conversation with the senior manager who also brought in the investment specialist who oversees the wind company file. Later that day the senior manager was meeting with company reps from the wind company as one of their normal meetings. We got on the agenda: “an investor in Ontario is concerned that a wind company is pursuing a legal suit against an individual, in what appears to be an attempt to chill public discussion . . .” The wind company was caught off-guard and could offer only a weak excuse for its behaviour. We got a report on this meeting during a follow-up phone call the next week. It was an interesting exercise in consumer advocacy. I gather that even a single complaint causes a ripple effect. The stock market watches to see if one person gets nervous in a crowd, because soon the whole room can be stampeding for the exits.
This tale is true and illustrates how a simple but dedicated exercise can stir the waters. There are lots of examples of mistreatment and abuse of people in wind projects. Find out if any of your investments (pensions too) are placed in wind projects, and if so, which ones. Explain the problems that are occurring in the wind project and insist that they help you in making the case to senior managers with the aim of putting the issue on their meeting agenda.
Pension funds invest in wind projects because of the relative safety of the investment. Make it less “safe” for them.