uToronto committee recommends partial divestment

December 18, 2015

A University of Toronto advisory committee, created by President Meric Gertler, has recommended that the institution divest from fossil fuel companies that “blatantly disregard” efforts to combat climate change. The committee singled out ExxonMobil, ConocoPhillips, and Peabody Energy (the world’s largest coal producer) as “clear examples” of companies that uToronto should sell its shares in. The process of reviewing the recommendation is already underway. “I will conduct due diligence as appropriate, and I will respond to the report sometime in the new year,” said Gertler. “In the meantime, I hope and expect that the report will draw attention and close study across our broad community.” Financial Post | Globe and Mail | Toronto Star | Hamilton Spectator (CP) | uToronto | Full Report