Our Demands

#1. Integrate social and environmental impact across all asset classes and pools of capital.

UBC, SFU, and UVic should build on their progress in divesting from fossil fuels to set broader norms around ethical and environmental standards, using all tools available, including pressuring companies to change their practices and divesting from companies that fail to meet such standards. Climate justice necessitates going beyond measuring emissions and considering companies’ impacts on workers, human rights, Indigenous rights, and local communities. This includes aligning investments with the United Nations Declaration of the Rights of Indigenous Peoples and Indigenous peoples’ right to free, prior and informed consent.

#2. Create a new asset class designation for community impact investments with an initial allocation of at least $10 million each by 2023 and a long-term target of 10% of university investment assets.

Truly responsible investing must go beyond minimizing harm towards actively cultivating social, economic and environmental wellbeing. UBC, SFU, and UVic should invest a portion of assets into projects that directly support community economic development and advance social and environmental objectives. These investments should have a primary purpose of community impact with financial returns being a secondary objective, and they should be governed by a Community Investment Committee composed of students, staff, faculty, alumni and local community members with relevant experience and expertise.

To learn more about examples of community investment, check out our Resources page.

#3. Engage with all First Nations on whose lands the universities occupy regarding the investment of university funds

Our universities must involve host nations in decisions related to investments in order to uphold their commitments to reconciliation and decolonization, as exemplified in UBC’s Indigenous Strategic Plan, SFU’s Aboriginal Reconciliation Council report, and UVic’s Indigenous Plan. This is especially pertinent at UBC where ~22% of endowment funds come from land lease revenues.

#4. Move cash and GIC accounts to fossil-free financial institutions.

The Big Five Canadian banks are major pillars of support for the fossil fuel industry, having lent $700 billion since the Paris agreement was signed in 2016. Banking with fossil fuel companies that lend to the fossil fuel industry is inconsistent with UBC’s, SFU’s and UVic’s progress towards divestment. Given cash and GIC accounts are low risk and have deposit insurance, UBC, SFU and UVic can move their money to support local lending and impact initiatives without sacrificing financial security.

#5. Collaborate with each other along with other universities and organizations to amplify the impact of community investing.

Universities have a significant influence on society and can advance social investing through collaboration, advocacy, research, and teaching. Our universities should develop a Canadian university community investing charter and network, collaborate to catalyze community investment opportunities, and support teaching, research and policy development on their campuses and in the broader community.