Western admin weighs focusing on social aspect in investment strategy | News

Western’s Investment Committee is considering reviewing its university’s Responsible Investment strategy to incorporate human rights considerations, according to a member of the school’s senior leadership team. 

Western University’s vice president of operations and finance Lynn Logan said the university is hearing from the community about human rights issues and is considering how it can adapt its strategy to evolve the social aspect. 

The comments followed questions from student-elected undergraduate board members Noah Zabian and Kathleena Henricus at a Thursday Board of Governors meeting.

Western’s campus has been the site of numerous protests against the university’s investment practices in the past year, including multiple demonstrations, a sit-in and a 60-day encampment over the summer. 

The Western Divestment Coalition and other protestors have been calling on the university to divest from companies they say are tied to the Israeli occupation of Palestinian territories. 

At the meeting, Zabian asked the Board whether the university would take human rights considerations into account in further responsible investment reports.

“Over the past year, there has been lots of interest about Western’s investments, and particularly around human rights,” said Zabian. He added that past Western Responsible Investing Annual Reports heavily emphasized environmental and sustainability concerns, with limited focus on social aspects of the Environmental, Social and Governance framework.

Logan agreed that Western’s Responsible Investing strategy and policy framework have focused primarily on environmental factors, but said the school is exploring how to broaden its approach to include the social aspect.

“The Investment Committee is considering it,” said Logan. “How long it will take us to actually do the research and do the due diligence that we need to bring forward a framework or a potential resolution for Western, that I can’t speak to at this time,” said Logan.

Logan explained the process may take time because the Investment Committee only meets four times a year.

Zabian also said he believed Western made a commitment in the summer to create a process for receiving and responding to concerns about responsible investing and committed to bringing the policy before the board by December.

On July 3, Alan Shepard released a statement saying encampment protestors occupying concrete beach had to dismantle the encampment or face disciplinary action and presented the protestors with five commitments in response to the proposal in a statement on the Western website.

In a statement released on July 5, Shepard said members of the coalition did not accept the proposal, and the encampment remained. The encampment was dismantled on July 6.

“That commitment was made if there was an agreement reached. That agreement was not reached, so that commitment actually did not go forward,” said Logan in response to Zabian. 

Logan directed Zabian to other initiatives the university has moving forward. Earlier in the meeting, Shepard discussed ongoing consultations for Policy 1.1 —  a now-paused policy governing the use of university facilities for non-academic purposes — that the Western Divestment Coalition protested against.

Henricus said the timeline of Western’s investment report is often inconsistent and asked when the 2023 and 2024 reports can be expected earlier in the meeting. 

Logan explained that the financial services team has been “striving” for consistency but said the report has been delayed due to staff prioritizing finances associated with the Brescia University College integration. She said the report could be expected next month.

Students stuck flyers in the elevator of the Western Interdisciplinary Research Building — where the Board of Governors meeting was held — linking to an open letter calling on the university to divest from companies they say are associated with the fossil fuel industry and military contractors. 

CTV reported that some students also distributed flyers to individuals entering the meeting.