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After years of pressure, UVic drops fossil-fuel investments

“We are acting on our commitment to address climate change in every domain at UVic, including through our investments,” said UVic treasurer Andrew Coward. “The opportunity to invest in renewable power is clear and it aligns with UVic’s responsible investment strategy, allowing for support of future technologies while also ensuring a strong financial return.”
The investaments allow the university to lower the carbon footprint of its investments, he said, “which helps to mitigate the investment risk associated with climate change as society transitions to a greener economy that is focused on reducing greenhouse gas emissions.”
Both the UVic Students’ Society and Divest UVic called the development a “major victory” following an eight-year fight to stop the university from investing in the fossil-fuel industry. ....

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UVic divests Working Capital Fund

UVic divests Working Capital Fund
Photo by Joshua Ngenda, Photo Editor from a Divest protest in 2019.
The University of Victoria has moved $80 million of their Working Capital Fund into a fossil fuel free fund meaning the fund no longer has any investments in fossil fuels. Divest UVic, a campus-based advocacy group run by students, faculty, and staff of the university, has been pushing UVic to divest from fossil fuels for eight years.
Emily Lowan, the group’s lead organizer as well as the UVSS Director of Campaigns and Community Relations, says that she is ecstatic.
“This is truly a historic moment for the campaign and for the whole university,” Lowan told the Martlet. “What this tells us is that we have a real opportunity to push for a bold climate justice agenda on campus.” ....

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