Important Divestment Decision at UVic, But More Is Still Needed

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NEWS RELEASE 
FOR IMMEDIATE RELEASE: Wednesday, November 17, 2021

Important Divestment Decision at UVic, But More Is Still Needed 

Divest UVic wrote this news release on the unceded, unsurrendered territories of the lək̓ʷəŋən and W̱SÁNEĆ peoples. 

Victoria, BC – This afternoon, the University of Victoria Foundation announced that they have completely divested their public equity investments from fossil fuel extraction and processing. Pushing against the force of industry influence at UVic, the Divest campaign has worked relentlessly for over eight years to see progress from the Foundation. We need to honour that this could not have happened without student and faculty organizing.

The Foundation’s fixed and alternative investments still contain millions in fossil fuels. The Foundation Board has direct links to resource extractive industries and their financiers, a likely explanation for their unwillingness to name this decision as divestment and credit the role of students. This is a less clear victory than SFU, UBC and U of T, who all stated their commitment to a full divestment policy.

Moving forward, we are committed to looking into community reinvestment strategies towards climate justice and we will continue to pressure the university to be accountable to climate leadership. “We should take this moment to truly honour all the work done by student organizers, student journalists and activists and UVic faculty and staff.” says Robin Pollard (she/they), UVSS Director of Campaigns and Community Relations and Divest UVic Organizer. “Moving forward from this important step, we are committed to work with the University on community reinvestment strategies and climate justice.”

Divest UVic is a group of UVic students, faculty, and staff advocating for The University of Victoria’s divestment from fossil fuels while building a student movement to take on climate change. Over the span of eight years, Divest UVic has used a wide range of campaign tactics to influence change, from collaborative discussion with the administration, to successful referendums and protests. We thank our allies and supporters that have made this campaign possible, such as the Divest Canada Coalition, UVic Faculty Association, UVic Students’ Society, Native Students’ Union and many more.
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Media Contact:
Robin Pollard (she/they), UVSS Director of Campaigns and Community Relations and Co-Lead Divest UVic Organizer
Phone: 250-721-8366 Email: campaigns@uvss.ca