Update on UBC and UBCIM Responsible Investing Commitments 

The University is committed to continually advancing its responsible investing practices and enhancing existing important work in this area. At this time, we are particularly focused on further integration of social factors, including human rights, in a manner that is consistent with the University’s legal and fiduciary duties. This work is being led by UBC Investment Management (UBCIM), in alignment with UBC’s Statement on Responsible Investing and the goals of the 2020 Responsible Investing Strategy. 

 We understand there is growing interest in how university investments can be perceived to be related to geopolitical events, and UBC takes these concerns seriously. We are committed to strengthening our understanding of these issues so we can make informed decisions that reflect our responsibilities as a public institution and the values of our community. 

To achieve this, UBCIM is enhancing its existing approach by developing a more systematic, principled, and legally grounded framework that reflects both industry best practices and UBC’s commitment to global citizenship. This builds on our established responsible investing strategy and supports a more thoughtful and consistent approach, rather than a reactive or ad hoc response. 

Progress Since December 2024 

UBC continues to meet or exceed targets in its responsible investing efforts. The Main Endowment Pool has now surpassed UBC’s 2030 carbon emissions reduction target, with emissions reduced by 57% on a carbon footprint basis and 60% in terms of emissions intensity since 2019. Fossil fuel exposure in the portfolio is now below 1%. 

More recently, UBCIM has expanded its work beyond climate-related risks, deepening its approach to social risk factors in response to increasing global expectations and community concerns. 

Developing a Human Rights Framework 

In late-2024, UBCIM initiated the formal development of a comprehensive Human Rights Framework, convening a working group with representatives from UBC, UBC’s Board of Governors and the UBCIM Board to oversee this process. The working group is responsible for guiding the framework’s development and ensuring it is pragmatic, implementable and is aligned with UBC’s fiduciary responsibilities.  Subject matter experts have been engaged to provide specialized assistance, bringing valuable expertise in responsible investing research, policy development and experience regarding complex and often politically sensitive areas of responsible investment, including human rights issues and related concerns.

With expert support, a robust framework for identifying, assessing, and managing material social risks – including human rights, labour rights, Indigenous rights, and conflict zone exposure – is being developed to integrate into the responsible investing strategy. As part of this work, coordinated outreach to other Canadian university endowments and pension plans is planned to explore interest in a shared human rights investment framework, promoting sector-wide consistency and collaboration. 

Next Steps  

Working with our team, the following project milestones have been identified and are now underway: 

• Development of a primer outlining how social issues emerge in institutional investment portfolios and the relevant national and international laws and standards that university investors are subject to. 
• Outreach and engagement with peer universities to gauge interest for a common framework. 
• Development of the human rights framework. 
• Implementation planning and integration into UBCIM’s broader responsible investing strategy. 

UBC remains committed to transparency, engagement, and responsible stewardship as this important work continues. UBCIM will provide regular updates as the project advances. While the work is already well underway, engagement with our peers to develop a shared framework may shape the timeline and scope of the final outcome. UBC and UBCIM remain committed to moving this work forward and as one of Canada’s leading universities, we see a real opportunity to help advance this conversation across the post-secondary sector.