TRU will begin including environmental, social and governance factors in its investment decisions through membership in the United Nations-supported initiative called Principles for Responsible Investment (PRI).
The decision to apply to PRI comes after TRU opted to undergo a yearlong examination of its investment strategies, which included a review of what other institutions in Canada are doing.
“This is very different from a divestment strategy which at this time, like many other Canadian universities, TRU has no interest in adopting,” said TRU Vice-President Administration and Finance Matt Milovick. “With the world’s reliance on fossil fuels, it is clear that fossil fuel usage isn’t going away anytime soon. Through our participation in the PRI, we can ensure that the corporations that we invest in — from all sectors, not just energy — adhere to sound environmental, ethical, social and governance practices.”
The PRI approach enables TRU to be engaged and invest in those corporations that are actively searching for cleaner methods of fossil fuel extraction, developing alternative forms of renewable/clean energy and prioritizing reclamation, while yielding returns that support the needs of TRU’s students and researchers.
Joining the initiative involves a commitment to implementing six principles for responsible investment, which were developed by an international group of institutional investors reflecting the increasing relevance of environmental, social and corporate governance (ESG) issues to investment practices.
As a signatory, TRU will be required to complete an annual reporting framework to help evaluate progress in implementing the principles, with help from peers in PRI’s global network.
The Principles for Responsible Investment (PRI) Initiative is an international network of investors working together to put the six Principles for Responsible Investment into practice. Its goal is to understand the implications of sustainability for investors and support signatories to incorporate these issues into their investment decision making and ownership practices. In implementing the principles, signatories contribute to the development of a more sustainable global financial system.
More information
Matt Milovick
Thompson Rivers University
VP Administration and Finance
250-828-5011
mmilovick@tru.ca
