University of Winnipeg reconsiders fossil fuel investments
by The Canadian Press
The foundation currently holds $2.5-million worth of fossil fuel-related investments
WINNIPEG—The University of Winnipeg is considering withdrawing its foundation’s money from stocks and bonds of fossil fuel companies.
It says it will study the pros and cons of not investing in companies that contribute to greenhouse gas emissions.
Andrew Vineberg from student association group Divest UW says almost five per cent of the foundation’s funds are invested with 16 fossil fuel-related companies.
He says several universities in the United States and around the world have already withdrawn such investments and a few universities in Canada have partially divested.
The foundation holds $2.5-million worth of fossil fuel-related investments right now, which represents five per cent of the foundation’s total endowment.
