On June 14, 2023, the Collegium of the University of St. Michael’s College committed to fully divest the University’s investments from fossil fuels by the year 2030, or sooner if possible.
The University of St. Michael’s College (USMC) has held no direct investments in fossil fuel companies since 2013, and the Collegium’s decision will complete the process of removing fossil fuel companies from its indirect investments (pooled and commingled funds).
Complete divestment from fossil fuels builds on USMC’s established initiative of investing according to its institutional values. Since 2016 USMC has collaborated with the Shareholder Association for Research & Education (SHARE) to support and encourage more just and humane environmental, social, and governance practices among investees. In 2021, USMC joined a coalition of Canadian universities to launch SHARE’s University Network for Investor Engagement (UNIE), which engages corporations on climate change risks.
“The Collegium’s commitment to full divestment from fossil fuels represents an important next step on a journey this university has been on for over thirty years,” said President David Sylvester. “St. Michael’s has been a forum of ecological thought and practice since the founding of our Elliott Allen Institute of Theology and Ecology in 1991. The Collegium’s decision resonates powerfully with that tradition, and with our university’s vision to be a recognized leader in promoting respectful dialogue and action to advance the care of our common home, as articulated in our strategic plan, St. Mike’s 180.”