Students question SFU investments 0
Investments in fossil fuels should be halted at SFU, says a coalition of students. (FILE PHOTO/QMI AGENCY)
A coalition of Simon Fraser University student groups is calling on the school’s board of governors to divest itself of all fossil fuel-related money.
The university announced a new policy that calls for more “responsible investment” in funding the university’s endowment, but a coalition calling itself DivestSFU said the new policy doesn’t go far enough.
“We were all quite troubled by a statement by the vice-president of finance and administration about the new policy, in which he said we need to avoid inadvertent damage to energy companies that may be part of the climate change solution,” said Mike Soron, executive director of Sustainable SFU, which is part of the coalition.
The group wants the university to cease investment in all fossil fuel companies within five years and to open the books on the university’s investment funds for greater scrutiny.
“To some extent we are operating in the dark,” Soron said. “We don’t know how many fossil fuel companies SFU has invested in.”
The new policy will draw guidelines from the United Nations Principles for Responsible Investment, a global network of investors committed to environmental, social, and governance.