From 4 April 2018 of online Halifax Examiner…Consider a student subscription! Support local, independent news!
Speaking of corporate and university relationships (and Shell and Dalhousie), the entire University of California system is divesting from fossil fuel industries, reports Arleen Jacobius for Profits & Investments:
Chief Investment Officer Jagdeep Singh Bachher, speaking at the March 13 investment subcommittee meeting in Los Angeles, said that in the long term, the $66.6 billion pension fund and $11.5 billion endowment are going to move out of fossil fuel investments.
[I]n the long-term “fossil fuels … is a financial risk we do not want to take in the context of real assets. We will fundamentally reduce those holdings,” he said.
Instead, the pension plans and endowments will invest in cash-flowing assets such as infrastructure including investment in transmission lines and utilities, he said.
“We can fill the gap with good assets if we are creative in what we buy,” he noted. “It’s not a project that is finished.”
In comparison to UC, Dalhousie’s fossil fuel investments sit at a comparatively tiny $20 million, but the Dal Board of Governors is resisting calls for the university to follow suit and divest from companies with high carbon intensities.
That’s not to say the BOD isn’t being budged. I’ve seen a lot of student activist groups in my time, but none as effective, smart, and on-purpose as Divest Dal, which has been making great strides in bringing the public and academics on board the cause. The group has gotten the Senate to endorse their efforts, and is making headway at the BOD. The UC announcement only bolsters their case.