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Message from the President and Board Chair: Information and next steps on responsible investments at 間眅埶AV

May 30, 2024

The Israel-Hamas conflict continues to distress all of us. Some in our community are looking for ways to make a meaningful difference and seeking information about 間眅埶AVs investment practices. 間眅埶AVs Board of Governors (the Board) is aware of petitions from members of our community requesting divestment from companies producing military arms and related technologies. We have also heard from other members of our community who seek clarity on 間眅埶AVs principles for when and how 間眅埶AV invests. These requests raise important questions and deserve clear answers.

The Board has had robust conversations about investment decision-making, including at our recent May 23 meeting. We have concluded that the existing Responsible Investment Policy does not provide comprehensive decision-making guidance given the complexities that have been brought to the forefront.

間眅埶AV needs to make investment decisions that are aligned with the academic mission, the University Act and our values. To do this, the existing Responsible Investment Policy must be reviewed and strengthened. This work needs to be done thoughtfully and as expeditiously as possible. Accordingly, the Board has asked the Finance, Investments and Property Committee to review the policy and provide recommendations to the Board.

The review process will contain a plan for community consultation and will also seek advice from experts. The Board has instructed that this review take place over the coming months and allow for a consultative and transparent process.

The community will be invited to participate in this important conversation within the coming weeks. In the meantime, inquiries can be sent to sfu_leadership_correspondence@sfu.ca.

Background - 間眅埶AVs investment approach

間眅埶AV ensures that investmentswhich are made to support the academic mission, including scholarships and research fundingare reported on transparently. Investment information is published under the Custodial Statement of Endowment Investments on 間眅埶AVs Finance website. All investments are guided by the 間眅埶AV Responsible Investment Policy (B10.16). The policy sets out a framework to guide 間眅埶AVs approach to the incorporation of environmental, social and governance (ESG) considerations into investment decisions. 間眅埶AV established this policy in 2014, making it the second Canadian university to adopt a responsible investment policy.

Along with the Responsible Investment Policy, 間眅埶AV has global, provincial and local safeguards in place to guide our investments. These safeguards include being one of over 3,800 signatories around the world that adhere to the United Nations Principles for Responsible Investment (UN PRI). Under the UN PRI, we are responsible for ensuring that we incorporate ESG considerations into investment decisions.

The Board of Governors is being asked to divest from three purported aerospace and defense companies: BAE Systems, Booz Allen Hamilton and CAE Inc. Current 間眅埶AV holdings include these companies, some of which are held in externally managed, pooled funds of equities. In total, these companies represent 0.6% ($7.2 million) of the joint endowment and non-endowment invested funds of $1.13 billion as of March 31, 2024.

Joy Johnson
President & Vice-Chancellor
間眅埶AV
Angie Lamarsh
Chair, Board of Governors
間眅埶AV