March 31, 2016

University of Toronto rejects environmentalist demands to sell oil and gas investments

Rebel Staff

University of Toronto President Meric Gertler provided a massive 43-page document on why the school will not divest from oil and gas.

His reasoning was very simple: it won't change anything.

“A serious limitation to any decision to divest from fossil-fuel companies is that such firms only account for one-quarter of Canada’s greenhouse gas emissions, with the balance produced by other factors such as transportation, housing and manufacturing,” he wrote.

In an interview with BNN, Gertler added that, “We to have to look out for the returns in our funds.”

“We have a responsibility as fiduciaries to uphold that interest.”

You can read his 43-page document here.

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commented 2016-04-02 14:27:54 -0400
Whew! That’s my pension they’re talking about. There are people at UofT that aren’t socialists (myself included). I’ve listened to Gertler and read some of his papers on various issues. I certainly would not call him a socialist – kind of backs up his defense of this action.
Could you imagine divesting yourself of oil & gas right now at this moment? You would be “divesting” yourself of 3/4 of the value you have tied up in said investments.
Now is the time to BUY MORE ;)
commented 2016-04-01 01:15:25 -0400
Socialists always want to line their own pockets.
commented 2016-03-31 18:16:44 -0400
@ Glenn – Yes, that is true. The administrators and the faculty are two distinctly different groups with distinctly different goals (and attitudes towards life). Still, good for the administration standing up to the envirodweebs.
commented 2016-03-31 13:17:27 -0400
@peter Netterville….the tenured professors are the “bourgeois intelligencia” socialists….they are usually at loggerheads with the administrators Scrouge and Marley……….:-)
commented 2016-03-31 13:07:38 -0400
Wow! A university, typically bastions of socialism, that won’t give up its’ investments in oil and gas. I guess money talks louder than environitwits.
commented 2016-03-31 12:14:40 -0400
Maybe UofT could sell their 1000s of owned acreage in Toronto that no one knows about.

That would be sure to raise cash – cash that UofT obviously needs to expand their art collections.