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“Nothing the CEC says about their position makes sense--the issues are "too important" for an arbitrator to find middle ground by looking at both sides' proposals (interest arbitration), but it's okay with them if an arbitrator decides to pick just their offer (final offer selection).
Faculty have offered to go to interest arbitration so all issues are examined by an expert arbitrator. That arbitrator could, in theory, decide on one proposal over another if that makes the most sense, or they could find a compromise that represents the best of both sides.
What the CEC won't say is that they refuse to change their position at all, while faculty have repeatedly. Going to arbitration just makes sense, but it doesn't allow the CEC's Graham Lloyd to ram his offer down faculty's throats.