Over the next three years, the organization will reallocate 61 per cent of invested funds out of pooled holdings containing fossil fuels and into sustainable, profitable, and fiscally-responsible funds.
For Immediate Release
LONDON, Ontario, February 3, 2022 – The University Students’ Council (USC) announced today that the organization will no longer invest in companies that explore, drill, or refine fossil fuels.
This decision was approved by the USC’s three governing bodies: Executive Council, USC Council and Board of Directors, and comes after feedback received from Western University students and consultations with USC financial advisors.
“We know that student dollars should be invested in a way that reflects the values of the students we represent, and they have been loud and clear that sustainability is a huge priority on campus,” said Zamir Fakirani, President, USC. “I am very excited about these changes and commend the students who have been advocating long and hard for divestment. I hope our actions inspire others to consider how their organizations can adopt greener practices in every aspect of their operations.”
The USC’s portfolio managers will begin rebalancing out of our current fossil fuel holdings on a semi-annual basis, over the next three years. In total, 61 per cent of the organizations’ investment portfolio will be redistributed to fossil fuel free mutual funds and portfolio solutions. The organization’s investment advisors will work alongside NEI Investments and IA Clarington to deliver this strategy.
“Our choice to divest not only reflects the values of our students, it also helps signal to other investors that socially responsible investing – specifically divestment – can be at the core of a successful investment strategy,” said Nathan Szierer, VP Governance and Finance, USC. “As a safety net for students and the USC, we also need to make sure that decisions affecting our investments are in lock-and-step with our established risk tolerance. The financial service firms we work with are leaders in Canada’s financial services landscape with reputations for delivering the kinds of results we are expecting.”
Mr. Fakirani addressed this decision in a recently released video to the student community.
For more information about the USC visit westernusc.ca
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The University Students’ Council (USC) is a student-led organization that first and foremost exists to advocate for and represent undergraduate students at Western University. Since 1965, we have grown beyond an advocacy organization, becoming one of the largest student governments in Canada and one of the largest nonprofits in London. Each day, we work to support, improve and enhance your student experience, because we believe that students have the power to change the world.
For more information and interview opportunities, please contact:
VP Communications & Public Affairs
University Students’ Council
(519) 661-2111 x82618