McGill board rejects fossil-fuel divestment initiative

March 28, 2016

McGill University has joined the growing list of Canadian PSE institutions that have rejected petitions calling for a full divestment of all institutional funds from fossil fuel companies. However, McGill’s board did endorse a subcommittee’s plan to create a separate “socially responsible investment fund” and instructed its fund managers to search more aggressively for new opportunities to invest in renewable energy and clean technology. “In the view of the committee, the action against climate change that can be taken by McGill will be much more effective if McGill does the things McGill does best—research [and] putting very smart minds to work on finding alternate sources of energy,” said Board President Stuart Cobbett. Globe and Mail | CBC