Endowment Value: $2 billion (August 2019)
The University of British Columbia (UBC) is a global center for research and teaching with a student body of around 60,000 located in British Columbia, Canada. The market value of the Endowment Fund directly managed by UBC Investment Management Trust Inc. (IMANT) and is overseen by the Board of Governors.
In 2013, UBC adopted its Responsible Investment Policy to direct UBC to consider environmental, social and governance (“ESG”) factors to make more informed investment decisions for the UBC Endowment. In 2014 through 2015, The Board carefully considered a student and faculty proposal for divestment and a detailed third-party analysis by Koskie Minsky, an external law firm with expertise on responsible investment.
Although The Board did not approve the proposal, it did allocate $10 million to establish the Sustainable Future Pool as a far for donors especially concerned about climate change more choice when donating to UBC. This fund specifically aims to lower carbon emissions and excludes fossil fuels. In April of 2019, April 18, the Board voted to approve an additional $25 million contribution to the Sustainable Futures Pool over the next three years, bringing the total contributed to the pool to $50 million by 2022
UBC Vancouver also has a Sustainability Fund, established in 2011 with $1 million in seed funding, for projects that help the University achieve its sustainability goals through reducing campus energy and water consumption, reducing operational waste generation, increasing operational waste diversion from landfill and increasing the use of alternative energy and alternative transportation.
The University of British Columbia is a participant or member of the following Initiatives & Commitments:
- AASHE STARS: Yes, Gold (2015)
- ACUPCC: No
- Billion Dollar Green Challenge: Yes
- CDP: No
- Committee on Investor Responsibility: Yes, Responsible Investing Policy Committee
- Divestment Goal: No
- INCR: No
- Montreal Carbon Pledge: No
- Sustainable Investment Fund: Yes (Fossil Fuel Free)
- Sustainable Investment Policy: Yes
- Principles for Responsible Investment: No
Other UBC Information:
- Annual Endowment Report
- UBC's Sustainable Investment Fund to be Free of Fossil Fuel Companies (Feb. 2017)
- Jarislowsky Fraser and University of British Columbia team up on ‘UBC Sustainable Future Pool’ (June 2017)
- Amid calls for further action, Board of Governors votes to double contribution to UBC’s sustainable endowment fund (April 2019)