#Montreal; #ConcoridaUniversity; #ClimateChange; #SustainableInvestment
Monreal, Nov 9 (Canadian-Media): Concordia University in Montreal took a major step in its fight against climate change, in announcing its plan to stop investing assets in the coal, oil and gas sector by 2025, media reports said.
The Concordia University Foundation, the the first university foundation in Quebec, also said it plans to put its entire $243 million endowment into sustainable investments -- conform to the United Nations Principles for Responsible Investment -- within five years.
"We believe that being socially and environmentally responsible in our investments is the surest way to be Concordia’s best possible fund management partner," Howard Davidson, chair of the board of the foundation, said in the Concordia blog post.
"Investing in sustainability is not just the right thing to do, it’s the smart thing to do. The foundation has already been working in that direction and this is a last push toward 100 per cent sustainable investments."
"Promoting sustainability and fighting climate change are priorities for the Concordia community," Graham Carr, the school's interim president, said in the post on the school's website.
"Our researchers, students, faculty and staff are all engaged around this issue and want to be part of the solution. The foundation’s commitments are crucial next steps in our sustainability journey."