UBC Board Of Governors Votes Against Divestment From Fossil Fuel Industry

The Canadian Press, 15 Feb, 2016 10:37 AM

VANCOUVER — The University of British Columbia's board of governors has voted against dumping the university's investments in fossil fuels.

The school's finance committee brought a motion not to support divestment, but instead to create a so-called sustainable future fund.

The fund would include a portfolio mandate for low carbon emissions and be seeded with an initial allocation of $10 million.

Investments tied to oil, gas and coal companies make up about 10 per cent of the university's $1.4-billion endowment.

Divestment has been an ongoing issue at the institution for several years, with students and staff voting separately in favour of pushing the investments out of UBC's portfolio.

Campus-based environmental advocacy organization Divest UBC had circulated an open letter to the board calling for a transparent, open and evidence-based consideration of divestment.

Prev Next

MORE National ARTICLES

Woman Dead Falling From Party Bus In Vancouver

Sgt. Randy Fincham says police received a report around 9:30 Saturday evening that a woman had fallen from a moving party bus at Burrard and West Hastings Street.

Woman Dead Falling From Party Bus In Vancouver

Alberta's Rachel Notley Says Document Shredding Ban Continues At Environment Department

EDMONTON — Alberta Premier Rachel Notley says a ban on document shredding will continue in the Environment Department until she is sure no more documents are improperly destroyed.

Alberta's Rachel Notley Says Document Shredding Ban Continues At Environment Department

Firefighting Funds Depleted: Record Number Of Wildfires In National Parks

Wildfires scorched a record amount of Canada's national parks last year — the latest in a number of long, hot summers that have almost entirely depleted Parks Canada's firefighting reserve.

Firefighting Funds Depleted: Record Number Of Wildfires In National Parks

Premier Kathleen Wynne Says Ontario Is Preparing Protocols For Physician-Assisted Death

The top court is holding an oral hearing today on the Trudeau government's request for a six-month extension to deal with the issue.

Premier Kathleen Wynne Says Ontario Is Preparing Protocols For Physician-Assisted Death

Somali-Canadian Woman Fights Revocation Of Security Clearance That Cost Her Airline Job

Ayaan Farah, 31, says Ottawa unfairly revoked her Transportation Security Clearance a year ago, leading to her firing from her full-time job of eight years.

Somali-Canadian Woman Fights Revocation Of Security Clearance That Cost Her Airline Job

Justin Trudeau Makes The Tabloids For His Family Vacation On Small Caribbean Island

The visit to Nevis, a small island that is part of the twin-island Federation of St. Kitts and Nevis, was billed as a private family vacation, but it has become fodder for celebrity gossip website TMZ.