The University of Winnipeg is considering withdrawing its foundation’s money from stocks and bonds of fossil fuel companies.
It is looking at the pros and cons of pulling its foundation’s money from companies that contribute to greenhouse gas emissions.
Divest UWinnipeg’s Andrew Vineberg says almost five per cent of the foundation’s funds are invested with 16 fossil fuel-related companies.
“That includes investments in the stocks of oil companies, natural gas companies and coal companies. It would be the first university in Canada to divest from fossil fuels. Several universities in the United States and the world have done it, a few universities in Canada have partially divested.”
The Foundation holds $2.5-million worth of fossil fuel-related investments right now – five per cent of the foundation’s total endowment.
The first of three public forums looking at the issues is being held today.
If they choose to completely divest, it would be the first university in Canada to do so.