In todays’ edition of The Varsity, there is an interview about the Toronto350.org divestment campaign at the University of Toronto.
In addition to quoting me and the Office of the President, it quotes Justin Lee, president of U of T’s Rational Capital Investment Fund, claiming that we are needlessly politicizing the issue of investment and implying that divestment would be bad for the portfolio. I wish he had read section 4 of the brief, in which we explain why divestment is a smart idea financially. These investments are not compatible with long-term prosperity for the world, since the business plans of these companies are focused on activities that would guarantee dangerous climate change. They are also incompatible with the long-term prosperity of the university itself, since the assumption that these companies will be able to burn all the fuel they own will eventually be invalidated.
Also, the fact that the university has a divestment policy in the first place shows that they understand how their investment choices do have ethical implications which are rightly a concern of the school. This isn’t a matter of needlessly politicizing university investment – it’s about bringing U of T’s investment policy in line with its values and long-term financial interest.
