Newspaper article The Canadian Press

UBC Votes for Sustainable Investment Fund to Be Free of Fossil Fuel Companies

Newspaper article The Canadian Press

UBC Votes for Sustainable Investment Fund to Be Free of Fossil Fuel Companies

Article excerpt

UBC confirms clean fund to be fossil fuel-free

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VANCOUVER - The University of British Columbia will exclude fossil fuel companies from its low-carbon investment fund, a move being applauded by a campus group that has been pushing for divestment.

The university has rejected calls to divest entirely from fossil fuels, but last year it established the $10-million Sustainable Future Fund to invest in companies with low carbon dioxide emissions.

On Tuesday, the school said in an emailed statement that its board of governors voted to approve a framework for the fund that would see it invested in a fossil fuel-free portfolio managed by investment firm Jarislowsky Fraser.

Donors can contribute over time and the university will increase the fund if it performs well in the coming years, with potential increases of $5 million in 2017, 2018 and 2019. …

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