University of Toronto to sell off all fossil fuel investments by end of 2030

The University of Toronto will end any direct investment in fossil fuel companies within a year and will extract itself from indirect investments through pooled or commingled assets by 2030 or sooner

The University of Toronto will divest from fossil fuels as part of its commitment to combatting climate change, the school announced Wednesday.

Meric Gertler, the university president, said in a letter to the university community that universities have an economic imperative and moral obligation to invest their assets in ways that will encourage the reduction of carbon emissions. Harvard University announced last month that its endowment fund, now worth US$53.2-billion, would divest its remaining fossil fuel holdings.

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