Guelph divests

2020-04-25

in Canada, Economics, Politics, The environment

The Guelph University board of governors committed to divest from fossil fuels on Wednesday, after a sub-committee of their finance committee concluded that doing so was compatible with fiduciary duty and that a divested portfolio would have performed as well or better in the past. I was a guest on the board’s call, and it was remarkable to hear administrators making they key legal and financial arguments in favour of divestment. It shows how at least some administrators have internalized some of the central arguments of the divestment movement.

This follows divestment by Laval, Concordia, and UBC.

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. May 5, 2020 at 7:54 pm

University of Guelph chancellor resigns over decision to divest from fossil fuels

The University of Guelph says Martha Billes has resigned as its chancellor following a decision to divest away from fossil fuels.

In an email on Monday evening, Billes said she has enjoyed her time as chancellor and remains a passionate champion of the university.

“For over 40 years, I have been an investor in business ventures including the oil businesses in my home city of Calgary and my family business, Canadian Tire Corp.,” Billes wrote.

“My decision to resign as chancellor was prompted by the incompatibility of my business interests with the board of governors’ decision to divest from fossil fuel companies in its endowment portfolio.”

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