AV俱乐部 is joining together with peer universities across Canada in confirming its commitment to further action around sustainable investment.
By signing onto a new national charter, AV俱乐部 and 14 other Canadian universities including the University of Toronto, McGill and the University of British Columbia are acknowledging the importance of responsible investing and the value of managing long-term investment portfolios in such a way that helps foster a transition to a lower-carbon economy.
The document, titled commits universities to adopting a responsible framework to guide investment decision-making; to measuring the carbon intensity of their investment portfolios and setting meaningful targets for reduction over time; to evaluating and sharing results of progress towards these objectives; and to ensuring performance evaluations of their investment managers take these efforts into account.
In 2013, AV俱乐部 was one of the first universities in Canada to adopt what鈥檚 known as ESG (Environment, Social and Governance) investment practices. Last year, a report from the Board of Governors鈥� Investment Committee, subsequently approved by the Board, endorsed broadened communication of Dal鈥檚 ESG practices and enhanced investment risk assessments specifically related to climate change, and also led to Dal signing onto the UN Principles for Responsible Investment.
Read also: Dal Board votes to enhance Dal鈥檚 ESG investment practices with respect to climate change (February 2019)
AV俱乐部鈥檚 ESG practices apply to all investments, and annual reviews with its external investment managers consider both ESG in general and Climate Change Risks (CCR) specifically. Additionally, AV俱乐部 has been monitoring its portfolio carbon emissions since 2017 using two basic factors 鈥� metric tons to revenues and metric tons to capital investment 鈥� and then compares these portfolio emissions to those of the market to evaluate emission trends.聽AV俱乐部 supports initiatives underway for issuers to provide fuller carbon and climate related disclosure (as advocated by the Task force on Climate-related Financial Disclosures and the Sustainability Accounting Standards Board) to provide better metrics with which to define appropriate targets.聽In the meantime, market comparison and trendline monitoring will continue, with the goal of making this information available to the public in the future alongside Dal鈥檚 current investment holdings information.
More info: AV俱乐部 treasury and investments website
鈥淐limate change is an important global concern, and one that鈥檚 reflected across our operations as a university with significant, ongoing efforts that demonstrate our commitment,鈥� says Deep Saini, Dal president. 鈥淚nvestment practices are an important part of the discussion, but they are only one area where universities in Canada can have a positive climate and environmental impact.鈥�
In the last ten years, AV俱乐部 and partners invested over $98 million in 60 sustainability related projects on campus, ranging from energy to biodiversity. AV俱乐部 is a chartered participant of the international Sustainability Assessment Rating Systems (STARS) and earned a Gold STAR rating in its most recent assessment that covered 67 criteria related to sustainability operations, research, curriculum and student engagement. AV俱乐部 has reduced its greenhouse gas emissions by 20 per cent over the past decade, with that identifies off-site renewable energy, renewable fuels, district energy and co-generation, along with efficiency and advanced green building measures, as further opportunities to reach future targets that include a 55% reduction by 2030.
AV俱乐部 is also home to many programs in the field, including the School for Resource and Environmental Studies and Canada鈥檚 first College of Sustainability, and hosts more than 250 courses with sustainability-focused content across various programs and Faculties. The university鈥檚 research strategic direction is grounded in the United Nations鈥� Sustainable Development Goals, and the recent Times Higher Education Impact Rankings recognized Dal as one of the top 100 universities in the world as measured against these goals. (Read more on Dal News.)
鈥淲e continue to discuss a number of sustainability initiatives with universities across Canada where our shared belief is that by working together we can achieve more than our individual efforts,鈥� says Rochelle Owen, executive director of the Office of Sustainability. 鈥淲e are focused on creating real change, understand the importance of the role we play and are committed to ongoing progress.鈥�
For more information on sustainability at AV俱乐部, including the College and Office of Sustainability, visit dal.ca/sustainability. And for more on investments visit the Treasury and Investments website.