All Posts Tagged With: "Divestment Debate"
Universities shouldn’t invest in unethical companies
An environmentalist argues in favour of divestment
A demonstration in Toronto (Tania Liu/Flickr)
Torrance Coste studied conservation geography at the University of Victoria before becoming a Vancouver Island Campaigner with the Wilderness Committee. He argues that universities should exit investments from companies he considers unethical, like those in fossil fuels. After reading his piece, check out Professor Todd Pettigrew’s argument that divestment is unrealistic.
While the debate around fossil fuel development and climate change intensifies in Canada, there is an effort emerging to hit the perpetrators of this global environmental disaster where it hurts—the bank account. The premise is simple: pressure post-secondary institutions to stop investing—or divest—money from companies in fossil fuel and other environmentally and socially destructive industries.
The call has been sounded through the Go Fossil Free campaign, an initiative of 350.org, a U.S.-based organization that fights climate change. Recently, a group of Canadian university graduates have petitioned Maclean’s to include an “ethical investment” category in its highly regarded annual university rankings.
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Ethical investing isn’t as easy as it sounds
Prof. Pettigrew on why universities can’t divest
Fort McMurray, Alta. oilsands (eryn.rickard/Flickr)
Here, Cape Breton University Professor Todd Pettigrew argues that divesting from “unethical” companies isn’t as easy as activists make it sound. After reading his commentary, check out Torrance Coste’s argument in favour of divestment.
I served, for a brief time, on the Board of Governors of Cape Breton University, and one thing I did during that period was speak in favour of looking into ethical investments. After all, we know from the proverbs that money talks. So if we are talking with our money, why not have it say something important?
Ethical investing, I argued at the time, seemed all the more urgent in the context of university education. If we are trying to teach our students to think critically, shouldn’t we ask tough questions about scholarship endowments and pension funds? Should we give scholarship funds to a student studying, let’s say, social justice, and then tell that student not to worry where that money came from?
Continue reading Ethical investing isn’t as easy as it sounds
