uToronto chooses ESG strategy over divestment, protesters hold sit-in at McGill

The University of Toronto has elected to include environmental, social, and governance (ESG) factors in its investment decisions rather than pursuing full divestment from fossil fuel companies. A number of Canadian universities have seen similar petitions for divestment. Institutions like UBC and Simon Fraser University, like uToronto, have decided instead to adopt a new set of ESG principles to guide future investment. “The virtue of an approach such as the one I am outlining is that it allows us to look at the practices of firms not just in fossil-fuel-producing sectors, but in the rest of economy as well,” said uToronto President Meric Gertler. On Tuesday, students supporting divestment at McGill University held a sit-in to protest the school’s recent decision not to divest from fossil fuel companies. Globe and Mail | Montreal Gazette (McGill) | uToronto