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University Of British Columbia Faculty Urge School To Divest Of Fossil Fuels

The Canadian Press, 10 Feb, 2015 04:39 PM

VANCOUVER — Faculty members are calling on the University of British Columbia to fully divest the school's investments from the fossil fuel industry.

The university's professors, librarians and program directors have voted 62 per cent in favour of urging the school's board of governors to stop all new fossil fuel-related investments.

The motion follows a similar move last year by students in favour of divestment and also calls for the university to sell off its existing holdings related to fossil fuels within five years.

The results of the faculty referendum were announced Tuesday but are not binding on the university's governors.

Concordia University became the first in Canada to adopt a partial divestment policy in December.

Investments tied to oil, gas and coal companies make up about 10 per cent of the university's $1.3-billion endowment fund.

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