Endowment Value: CAD $2.88 billion (December 2018)
The University of Toronto is a public research university located in Toronto, Ontario. . UT has a student body of over 88,000 students across 11 colleges. The University of Toronto Asset Management Corp. (UTAM) oversees the University's endowment. The Responsible Investing Committee (RIC) oversees all matters relating to the development and implementation of UTAM’s responsible investing practices and is composed of the most senior leaders at UTAM.
In order to create awareness for the many sustainable projects and programs ongoing throughout campus, the university publishes a Sustainability Yearbook. This year’s 2018 yearbook highlighted programs such as Bikechain (a do-it-yourself bike shop) and the facilities equipment switch (replace older, gas-powered equipment with new battery-powered equipment). The University of Toronto does not simply want to be sustainable. Instead, they also want to educate their students, faculty, staff, and the surrounding community of the importance of sustainability and how each individual can make a difference.
According to ATUM’s responsible investing policy established in 2016, ESG factors play an integral part of its investment analysis and decision-making processes, particularly regarding selection of investment managers, transparency, and shareholder engagements. Since becoming a signatory of the UN’s Principles for Responsible Investment (PRI) in 2016, several UTAM investment officers have joined PRI advisory committees.
The University of Toronto has an active Global 350.org chapter, Toronto 350.org, that has been urging the administration to divest from fossil fuels since 2014. It has played a signifcant role in sparking debate around responsible investment divestment.
In response to The University of Toronto's 2016 decision not to divest from fossil fuels, President Meric Gertler provided a Q & A session regarding the University's decision and discusses his new 14-point plan to address climate change and include environmental, social and governance factors into the endowment investment strategy. One such action in the plan included a commitment to invest $750,000 over the next three years to foster innovations in teaching and curriculum focused on climate change.
The University of Toronto is a participant or member of the following Initiatives & Commitments:
- AASHE STARS: Yes, member
- ACUPCC: No
- Billion Dollar Green Challenge: No
- CDP: Yes
- Committee on Investor Responsibility: Yes
- Divestment Goal: No
- INCR: No
- Published Investments Carbon Footprint (Montreal Carbon Pledge): Yes
- Sustainable Investment Fund: No
- Responsible Investment Policy: Yes
- Principles for Responsible Investment: Yes
Other Sustainable Investing Practices:
- 2018 annual Responsible Investing Report
- UTAM Joins the Global Climate Action 100+ Initiative, Dec. 2017
- UTAM’s Responsible Investing page
- Q&A With the President of The University of Toronto Meric Gertler: Beyond Divestment, March 2016