University of British Columbia (UBC) President, Santa J. Ono, has addressed recent protests targeting the university’s endowment fund. In a statement released on Monday, Ono clarified that the fund does not directly own any stocks that have been targeted by protesters.
The protests, organized by a group called “UBC Climate Hub,” have been calling for the university to divest from fossil fuel companies. They claim that UBC’s endowment fund, which is worth over $2 billion, has investments in these companies.
However, Ono has stated that the endowment fund is managed by external investment managers who make decisions on where to invest the funds. He also emphasized that the university’s Board of Governors has a strict policy against investing in companies that do not align with UBC’s values and principles.
Ono further explained that the endowment fund is invested in a diverse portfolio, which includes a mix of stocks, bonds, and other assets. He stated that the fund’s investments are regularly reviewed and adjusted to ensure they align with the university’s values and financial goals.
The UBC President also acknowledged the concerns of the protesters and stated that the university is committed to addressing climate change and promoting sustainability. He highlighted UBC’s efforts in reducing its carbon footprint and investing in renewable energy projects.
In response to the protests, Ono has invited the UBC Climate Hub to engage in a dialogue with the university’s administration. He stated that he is open to hearing their concerns and working together towards a more sustainable future.
In conclusion, UBC President Santa J. Ono has clarified that the university’s endowment fund does not directly own any stocks targeted by protesters. He has also emphasized the university’s commitment to addressing climate change and promoting sustainability.
