UVic divests working-capital fund from fossil-fuel investments

The University of Victoria has announced that it will be divesting its working-capital fund from fossil-fuel investments to investments that are lower carbon footprint. UVic will transfer $80M to a short-term bond, which will reduce the “carbon intensity” of its investments, with plans to transfer their entire $225M portfolio by 2030. UVic says that the changes are a response to engagement from students, staff, and faculty. “We are acting on our commitment to address climate change in every domain at UVic, including through our investments,” said UVic treasurer Andrew Coward. “The opportunity to invest in renewable power is clear and it aligns with UVic’s responsible investment strategy, allowing for support of future technologies while also ensuring a strong financial return.” Times Colonist | UVic (BC)