WINNIPEG, MB – The University of Winnipeg Board of Regents this evening received a new policy to guide endowments. Created and approved by UWinnipeg’s Foundation, the responsible investing policy commits to establishing a renewable energy investment fund ie: a “green fund” as a new option for investors. Following months of internal and external consultations and open campus discussions sparked by the “divest from fossil fuels” student movement, including a presentation by some students and faculty at the Board meeting today, UWinnipeg is on a path forward similar to actions taken by other universities across Canada.
The responsible investing policy ensures that environmental, social and governance (ESG) factors are properly taken into account on investment decisions. This approach is consistent with the mandate of the Foundation while engaging the full landscape of ESG factors, including the pressing issue of climate change. ESG items that will be supported through investments include: environmental criteria, which looks at how a company performs as a steward of the natural environment; social criteria, which examines how a company manages relationships with its employees, suppliers, customers and the communities where it operates; and governance which deals with a company’s leadership, executive pay, audits and internal controls, and shareholder rights.
The Foundation will include regular updates on the application of its responsible investing policy in its quarterly investment reports.
Additionally, UWinnipeg’s Foundation is going further to ensure sustainability remains a priority. The greenhouse gas emissions footprint currently measured by UWinnipeg will expand to include tracking the carbon footprint of the Foundation’s endowment investment portfolio. The goal is to reduce this investment carbon footprint each year.
The UWinnipeg community has engaged in a comprehensive inquiry regarding divestment and responsible investing that began in fall 2014.
The Board of Regents also approved a new campus sustainability policy this evening with assertive goals that ensures UWinnipeg remains an environmental leader.
MEDIA CONTACT
Diane Poulin, Senior Communications Specialist, The University of Winnipeg
P: 204.988.7135, E: d.poulin@uwinnipeg.ca
