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Story of the Week: May 2020

University takes dimwitted stand against prosperity by divesting from oil stocks

University takes dimwitted stand against prosperity by divesting from oil stocks

“If it weren’t for the Canadian oil development, many of the advantages across this country would never have happened. The university, to make a statement against an industry that has been paying their bills for many years, I find untenable.”

Martha Billes, controlling shareholder of Canadian Tire Corporation

Divestment severs any chance to advance positive change through shareholder advocacy.

Divestment severs any chance to advance positive change through shareholder advocacy.

“Divestment bears the risk of adversely affecting an investment portfolio and severs any chance to advance positive change through shareholder advocacy.”

Jeff Eshelman, Senior Vice President of the Independent Petroleum Association of America

Divesting doesn't drive share prices down, and may, in fact, leave less eco-concerned investors positioned to snatch outstanding shares.

Divesting doesn't drive share prices down, and may, in fact, leave less eco-concerned investors positioned to snatch outstanding shares.

“Some argue that divesting doesn't drive share prices down, and may, in fact, leave less eco-concerned investors positioned to snatch outstanding shares. It also means very little with big oil companies that are private (and thus don't sell stock).”

By staying in some of those companies, we can become an active investor, engage these companies … press and push and find change.

By staying in some of those companies, we can become an active investor, engage these companies … press and push and find change.

“The full divestment from fossil fuel would in many ways be a symbolic gesture. We’re a small investor and those companies wouldn’t much care whether we were involved or not. By staying in some of those companies, we can become an active investor, engage these companies … press and push and find change.”

Don O’Leary, Vice-President of Finance, Administration and Risk, Guelph University