U of T losing $$ on fossil fuels, but committee recommends half measures on divestment

The committee advising the University of Toronto on the divestment of fossil fuels is recommending that the school divest…partially. The Report of the President's Advisory Committee on Divestment from Fossil Fuels released Wednesday recommended a strategy of targeted divestment from fossil fuel companies. The committee calls for the school to target companies who "engage in egregious behaviour and contribute inordinately to social injury." The committee was struck after the University of Toronto chapter of 350.org presented the Office of the President with a petition in March 2014, requesting that the University of Toronto fully divest from direct investments in fossil fuels companies within the next five years and to stop investing new money in the industry. In mid-November an analysis from Corporate Knights, along with 350.org and South Pole Group, maintained the university lost over $550-million by not divesting from the largest fossil fuel firms three years ago.

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