03/09/2016 21:31 EST | Updated 03/10/2017 00:12 EST

Winnipeg university reconsidering investment in fossil fuel companies

WINNIPEG — The University of Winnipeg is considering withdrawing its foundation’s money from stocks and bonds of fossil fuel companies.

It says it will study the pros and cons of not investing in companies that contribute to greenhouse gas emissions.

Divest UWinnipeg’s Andrew Vineberg says almost five per cent of the foundation’s funds are invested with 16 fossil fuel-related companies.

He says several universities in the United States and around the world have already withdrawn such investments and a few universities in Canada have partially divested.

The foundation holds $2.5-million worth of fossil fuel-related investments right now, which represents five per cent of the foundation’s total endowment.



The Canadian Press