U of T President Meric Gertler rejects fossil fuel divestment

2016-03-30

in Canada, Economics, Politics, The environment, Toronto

Back in December, an expert committee appointed by President Gertler recommended divestment from fossil fuel companies based on a range of criteria.

Today, that approach was rejected by President Gertler, who proposed instead a vague eventual screening of investments based on “environmental, social, and governance” factors.

Toronto350.org has a press release, and is working on a broader response.

Between the committee’s recommendation and the president’s decision, we issued a Community Response, which is essentially not addressed in the president’s decision.

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{ 7 comments… read them below or add one }

Milan March 30, 2016 at 2:57 pm
. March 30, 2016 at 3:37 pm
. March 30, 2016 at 4:24 pm
alena March 30, 2016 at 5:27 pm

I am very sad to hear about President Gertler’s decision on divestment. The University had an opportunity to be a leader in the fight against catastrophic global warming. I am certain that this is only the beginning of a movement that will not go away and you and your colleagues have started the dialogue in a most compelling way. The Ad hoc committee clearly agreed with you. It takes dedication and courage to do what you do.

. April 1, 2016 at 7:32 pm
oleh April 4, 2016 at 10:14 am

The hard and sustained work of you and your colleagues resulted in the University being forced to deal with the issue. I know how hard and persistently you and your colleagues worked on this issue. The result of the Ad Hoc Committee’s recommendation was and remains a considerable success. The presidents watering down those recommendations into a factor to consider is disappointing. Well done for achieving what you and your colleagues have achieved.

Milan May 8, 2016 at 9:00 pm

It’s notable that the members of President Gertler’s own expert committee publicly spoke out against his decision:

The Varsity – U of T student newspaper: Op-ed: An open letter to the University of Toronto on fossil fuel divestment (In defense of the Toronto principle)

Letter to The Globe and Mail: A committee replies

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