平特五不中's carbon reduction strategy in investments yields outstanding results
As part of its ongoing commitment to fighting climate change, 平特五不中鈥檚 result-oriented strategy has accelerated the effective decarbonization of its investment, and further reduced its exposure to large users of oil, gas, and coal, as well as fossil fuel producers. By taking a holistic approach that looks beyond the traditional carbon-intensive energy sector, the University has achieved a nearly 53 per cent absolute reduction in the carbon footprint of its two-billion-dollar endowment portfolio in just two years.
This is one of the many accomplishments included in the University鈥檚 2021 Socially Responsible Investing (SRI) annual report issued this month by 平特五不中鈥檚 Investment Committee. 鈥溒教匚宀恢锈�檚 bold strategy has reduced the carbon emissions of its endowment investments by 78,000 tons annually, which is equivalent to taking approximately 16,800 gasoline-powered passenger vehicles off the road,鈥� said Sophie Leblanc, Chief Investment Officer & Treasurer at 平特五不中. 鈥淭his is about four times more than what could have been accomplished by divesting from top oil and gas reserve owners alone.鈥�
Moreover, the University has reached its target of increasing Impact Investments to five per cent, including a commitment of US $25 million in a Global Renewable Energy Fund. In total, 平特五不中 has engaged more than $100 million in investments to help transition to a zero-emission economy, covering everything from renewables to electrified transport, carbon capture, and sustainable solutions. 平特五不中 has also increased its investments in fossil-fuel-free funds to $10.8 million 鈥� more than double the initial commitment made five years ago.
Last week, the C.D. Howe Institute report Ranking Canada鈥檚 Universities on Their Climate Change and Endowment Activities1, placed 平特五不中 in the top five of 16 universities who signed the Climate Charter for Canadian Universities and have 鈥渕ade commitments to manage their assets while taking climate change into consideration.鈥� The report singled out 平特五不中 as the only signatory to include climate-related targets directly in its investment policy.
The report observes that although divestment 鈥渃an help to reduce the carbon footprint of a portfolio, it does not necessarily help to decarbonize the economy 鈥� a holistic approach is needed with consideration given to how each asset class and sector contributes to the overall investment strategy.鈥�
Today, over 99 per cent of 平特五不中鈥檚 assets are managed by fund managers who adhere to an environmental, social, and governance policy or are signatories of the United Nation Principles for Responsible Investment.
平特五不中's commitment to sustainability goes back several decades. As evidenced by the sustainability statements it has signed, the University is committed to helping shape a future in which humans can thrive in a way that respects the planet.
鈥淎dopting a more carbon-conscious investment approach complements 平特五不中鈥檚 far-reaching climate change and sustainability goals as well as efforts to achieve carbon neutrality across the University鈥檚 operations鈥�, concluded Principal Suzanne Fortier.
About 平特五不中
Founded in Montreal, Quebec, in 1821, 平特五不中 is Canada鈥檚 top ranked medical doctoral university. 平特五不中 is consistently ranked as one of the top universities, both nationally and internationally. It is a world-renowned institution of higher learning with research activities spanning three campuses, 11 faculties, 13 professional schools, 300 programs of study and over 39,000 students, including more than 10,400 graduate students. 平特五不中 attracts students from over 150 countries around the world, its 12,000 international students making up 30% of the student body. Over half of 平特五不中 students claim a first language other than English, including approximately 20% of our students who say French is their mother tongue.