The University of Guelph’s Working Group on Responsible Investing has released its final report.
The report presents the results of a six-month-long consultation by the group, including discussions with the U of G and greater Guelph communities. Investment experts also offered practical, strategic perspectives.
The report offers numerous recommendations, including establishing guiding principles and processes, responsible investment policies and performance measures.
It emphasizes the need to align the University’s investment policy and related choices with its strategic directions and institutional values.
The working group was created by U of G’s Board of Governors (B of G) to help consider responsible investment policy and practices for the University’s endowment funds. The group began its task in January.
Consisting of members of the Board, senior administration, students, staff, faculty and alumni, the working group was chaired by B of G member Mary Anne Chambers. Chambers is a former provincial minister of training, colleges and universities and minister of children and youth services, and former board chair of the United Way of Canada.
In releasing the report, Chambers expressed appreciation for her colleagues on the working group for their commitment and effort, and the University community for its input. “We were charged with an important mandate, and faced the challenge of completing it in a short time frame,” she said.
“This report is the result of genuinely thoughtful, open discussion of complex ethical and financial issues. We acknowledge and greatly appreciate the interest of the many students, staff, faculty, alumni and other community members who contributed passionately to the discussion.”
Chambers added: “I believe that this report presents a path that will allow the University to manage its endowment investments in a manner that reflects its values and its long-term commitment to future generations.”
The report will be reviewed by B of G’s Finance Committee, in consultation with the Investment Subcommittee, as well as the Board of Trustees.
“The Finance Committee has been anticipating the final report and has great interest in considering the report, including its recommendations,” said committee chair Shauneen Bruder.
“Our role is to advise the Board on any necessary changes relevant to policies and procedures, and we expect to present advice in the fall to B of G for consideration.”
B of G will make final decisions about the University’s Endowment Investment Policy and related policy and practice that reflect responsible investing as part of its stewardship responsibilities for the University’s endowment funds.