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.