MONTREAL, Dec. 3, 2019 /CNW Telbec/ - McGill University's Board of Governors received today recommendations to reduce the overall carbon footprint of the University's investments, as part of a report from the Committee to Advise on Matters of Social Responsibility (CAMSR).
Prepared for the Board in response to a McGill Senate resolution on divestment from the fossil fuel industry, the CAMSR report and recommendations support the continued evolution of the University's investment portfolio towards a more sustainable and less carbon-intensive investment strategy.
The proposed measures focus on fostering meaningful reductions in greenhouse gas emissions. The report recommends decreasing McGill's endowment portfolio exposure to carbon-intensive investments, including those within the fossil fuel industry. The report also recommends increasing McGill's low-carbon holdings, such as those in clean technologies and renewable energy infrastructure.
Should the Board of Governors approve the recommendations at its December 5 meeting, CAMSR will develop a set of guidelines, including defined decarbonisation targets and timelines, which will be presented to the Board by April 2020 for the University to operationalize its new investment framework.
CAMSR is one of the Board's nine standing Committees. Its mandate involves advising the Board on matters concerning social responsibility. More specifically, the Committee, taking due regard of the mission of the University, and the fiduciary duties of the Board, advises the Board on matters concerning social responsibility related to University endowment investments within the mandate of the Board's Investment Committee.
About McGill University
Founded in 1821, McGill University is home to exceptional students, faculty, and staff from across Canada and around the world. It is consistently ranked as one of the top universities, both nationally and internationally. It is a world-renowned institution of higher learning with research activities spanning two campuses, 11 faculties, 13 professional schools, 300 programs of study and over 40,000 students, including more than 10,200 graduate students. McGill's commitment to sustainability reaches back several decades and spans scales from local to global. The sustainability declarations that we have signed affirm our role in helping to shape a future where people and the planet can flourish.
SOURCE McGill University
For further information: Cynthia Lee, McGill Media Relations Office, 514-398-6754, [email protected]