uCalgary says it has no plans for divestment ahead of planned campaign

The University of Calgary says that it has no plans to change its investment policy in response to a growing movement urging PSE institutions to divest from fossil fuels. In a statement, President Elizabeth Cannon says that the institution "will continue to foster a free and open debate on this important issue." However, she added that "at this time we are not looking at making changes to our current investments in the energy industry. We have responsible fund managers who invest the university's $710 M endowment in a balanced portfolio, including approximately $40 M invested in the energy industry." Cannon's statement was issued on February 13, which had been designated by advocates as Global Divestment Day. The uCalgary statement notes that the institution is well positioned to address challenges associated with providing safe, clean, and secure energy, that many of the institution's graduates are employed in the energy sector, and that the institution benefits from philanthropic support from the energy industry. uCalgary News Release | Financial Post