Close X
Thursday, January 16, 2025
ADVT 
India

UBC Finance Committee Says No To Selling Off Fossil Fuel Holdings

Darpan News Desk The Canadian Press, 03 Feb, 2016 01:30 PM
  • UBC Finance Committee Says No To Selling Off Fossil Fuel Holdings
VANCOUVER — The University of British Columbia's finance committee has voted against selling off the school's fossil fuel holdings.  
 
The finance committee, part of the school's Board of Governors, decided Wednesday to keep fossil fuel stocks as part of the university's $1.4-billion endowment, while also creating a sustainability fund to promote environmental goals.
 
Last January, faculty members at UBC voted 62 per cent in favour of selling off the university's fossil fuel investments within the next five years. A year earlier, students had voted 77 per cent in favour of divesting from fossil fuel holdings.
 
Wednesday's decision by UBC follows the lead of the University of Calgary, McGill University in Montreal and Dalhousie University in Halifax, all of which earlier decided against divestment.  
 
Last December, a University of Toronto advisory committee recommended that the university divest from fossil fuel companies that "blatantly disregard" efforts to halt climate change. University president Meric Gertler is expected to make a final decision on divestment by the end of March. 
 
Concordia University in Montreal was the first university in Canada to adopt a partial divestment policy in December 2014, which only applies to a $5-million fund representing a fraction of the schools' $130-million endowment.

MORE India ARTICLES

Furore Over Sharad Yadav's Remarks On Women's Complexion

Furore Over Sharad Yadav's Remarks On Women's Complexion
The Rajya Sabha on Monday witnessed a furore over Sharad Yadav's remarks on women's complexion, as sharp words were exchanged between the JD-U leader and Human Resource Development Minister Smriti Irani.

Furore Over Sharad Yadav's Remarks On Women's Complexion

Kolkata Nun Gangrape: No Arrests Yet, Governor Seeks Public Help To Nab Culprits

Kolkata Nun Gangrape: No Arrests Yet, Governor Seeks Public Help To Nab Culprits
The nun was brutalised by a gang of bandits inside the Convent of Jesus and Mary in Ranaghat, some 80 km from Kolkata, early Saturday

Kolkata Nun Gangrape: No Arrests Yet, Governor Seeks Public Help To Nab Culprits

Congress Demands PMO Explain 'Snoopgate 2', BJP Says Non-issue

Congress Demands PMO Explain 'Snoopgate 2', BJP Says Non-issue
 The Congress on Sunday demanded an explanation from the Prime Minister's Office on why the police were seeking details about its vice president Rahul Gandhi even as the BJP accused the opposition party of making an issue out of a "routine" security-related inquiry.

Congress Demands PMO Explain 'Snoopgate 2', BJP Says Non-issue

'Cured' Arvind Kejriwal Returns To Delhi On Monday

'Cured' Arvind Kejriwal Returns To Delhi On Monday
Delhi Chief Minister Arvind Kejriwal will return home on Monday evening, as he is almost cured of his chronic cough and blood sugar level reduced to normal range at a private hospital here, a doctor told on Sunday.

'Cured' Arvind Kejriwal Returns To Delhi On Monday

'Printing Error’ Drops Gandhi Jayanti From List Of Goa Holidays, CM Blames 'Mistake Or Mischief'

'Printing Error’ Drops Gandhi Jayanti From List Of Goa Holidays, CM Blames 'Mistake Or Mischief'
Dropping of Gandhi Jayanti from a list of government-endorsed holidays for commercial and industrial establishments in Goa sparked a nationwide controversy, forcing a reluctant BJP to call it a mistake, even as the Congress demanded an explanation from the union home ministry for the gaffe.

'Printing Error’ Drops Gandhi Jayanti From List Of Goa Holidays, CM Blames 'Mistake Or Mischief'

Hundreds Pay Homage To Murdered Indian Techie In Australia

Hundreds Pay Homage To Murdered Indian Techie In Australia
Hundreds of people, including family members, colleagues and central and state ministers, on Sunday paid homage to the Indian software engineer who was murdered in Australia on March 7.

Hundreds Pay Homage To Murdered Indian Techie In Australia