Concordia University Foundation creates sustainable investment fund

November 28, 2014

In contrast to the Dalhousie University board’s rejection of divestment in fossil fuels earlier this week, the Concordia University Foundation (CUF) has created a sustainable investment fund with an initial investment of $5 M. CUF will engage investment managers that use a fully sustainable investment approach. “We have been closely following the public discourse on divestment, and social and ethical investing,” says Howard Davidson, CUF Chair. “The result includes the adoption of a responsible investment policy and exploring a new approach to asset management.” The Concordia Student Union (CSU) and the Graduate Student Association (GSA) both responded to the announcement, expressing pleasure with the decision, but also pushing for full divestment in the future. “Although I understand that the foundation has a fiduciary responsibility towards their donors and beneficiaries, investors also have a responsibility to ensure that future generations can still live on this planet,” said one student. Faculty at UBC recently voted to hold a referendum on fossil fuel divestment. Concordia News | CSU/GSA News Release