Newspaper article The Canadian Press

University of Ottawa to Cut the Carbon Footprint of Its Investments

Newspaper article The Canadian Press

University of Ottawa to Cut the Carbon Footprint of Its Investments

Article excerpt

University of Ottawa to lower carbon investments

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OTTAWA - The University of Ottawa's board of governors has adopted a plan that will see the school reduce the carbon footprint of its investment portfolio by 30 per cent by 2030.

Board chairman Robert Giroux says the decision, which followed 18 months of consultations, is in line with Canada's national climate commitment.

The university says it will also create a clean innovations fund and transfer $10 million from its long-term portfolio to provide seed capital for investing in clean technologies.

The Ottawa school is one of several across the country that have been weighing whether to dump their holdings in fossil fuel companies.

Concordia University in Montreal became what is believed to be the first Canadian university to adopt a partial divestment policy in December 2014, although that measure only applied to a $5-million fund -- a fraction of the school's $130-million endowment. …

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