To: All UBC students, faculty and staff
I am pleased to inform you that the University of British Columbia Board of Governors has taken important steps to introduce responsible investment practices to the university’s $1.1 billion endowment fund.
Today the Board has approved a new Endowment Responsible Investment Policy. In short, it commits UBC to choose investment managers who will evaluate the environmental, social and governance (ESG) performance of companies in their investment portfolios. The policy also outlines options for UBC to engage with companies or industries that are of concern to the UBC community, with the goal of influencing positive corporate citizenship.
In a step that I believe puts UBC at the forefront of its peers, the new policy provides an important framework to guide constructive discussion and decision-making within our university community around responsible investment decisions.
It draws from best practices in the field, and identifies clear criteria for deciding responsible investment strategies that are in line with UBC’s social commitments and fiduciary responsibility to its donors. Finally, it creates a new advisory committee to examine requests from students, faculty and staff, and recommend investment actions.
I am grateful for the work of the Board to provide positive leadership. To learn more about the new policy and the topic of responsible investment, please visit a new UBC informational web site: http://treasury.ubc.ca/responsible-investment
Prof. Stephen Toope
President and Vice Chancellor