“We are acting on our commitment to address climate change in every domain at UVic, including through our investments,” said UVic treasurer Andrew Coward. “The opportunity to invest in renewable power is clear and it aligns with UVic’s responsible investment strategy, allowing for support of future technologies while also ensuring a strong financial return.”
The investaments allow the university to lower the carbon footprint of its investments, he said, “which helps to mitigate the investment risk associated with climate change as society transitions to a greener economy that is focused on reducing greenhouse gas emissions.”
Both the UVic Students’ Society and Divest UVic called the development a “major victory” following an eight-year fight to stop the university from investing in the fossil-fuel industry.