March 28, 2024

Environmentalists call for UVic to stop investing pension funds in Enbridge

A B.C. environmental group is calling on the University of Victoria to stop investing pension funds in oil companies.

The Wilderness Committee is pointing the spotlight on financial documents from the university’s latest report available to pension plan members that show about $ 4 million in pension funds invested in Enbridge.

That’s the Calgary-based oil giant trying to get approval to build a $ 6-billion pipeline across northern B.C.

Committee spokeswoman Gwen Barlee says this is especially troubling, as UVic bills itself as a leader in climate change research.

“I really hope, as a British Columbian, as an alumni of UVic, that the university will say, you know what, you’re right, it is an incredible inconsistent position and we’re going to divest this portfolio.”

Vancity Credit Union withdrew its mutual funds from Enbridge back in August, after a Vancouver Island environmental group spoke out.

CKNW Vancouver News

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