Ad-Hoc Committee on Special Action Requests (2024)

About the Ad Hoc Committee on Special Action Requests

In July of 2015, the Ad Hoc Working Group on Responsible Investing released its final report. The report recommended:

That the amended Endowment Investment Policy incorporate provisions for a transparent process to consider and implement recommendations in response to stakeholder expectations for action on specific RI issues, including existing calls from some University stakeholders that it divest itself of all investments in the fossil fuel market

In response to this recommendation, a Special Action Policy for the Endowment Portfolio (the "Special Action Policy") was developed based on a number of existing and developing best practices among universities in Canada and in the United States.

Under the Special Action Policy, an Ad Hoc Committee is established to receive and review any special action requests received under the Policy.

The report and recommendations of an Ad Hoc Committee are provided to the Finance Committee and, ultimately, to the Board of Governors for review and consideration.

For further information about the special action process please view the complete Special Action Policy.

Special Action Requests Received

On Thursday, March 28, 2024 the University of Guelph received a Special Action Request. In its review of this request, the Ad Hoc Committee is also taking note of a subsequent document that was submitted by the same group on May 21, 2024.

Community Input

In accordance with the policy, interested individuals and groups were invited to submit written representations to the Committee in response to the Special Action Request. The deadline to submit written representations was September 20, 2024. 

Timeline

December 2024 Update

The Ad Hoc Committee of the Board of Governors that is reviewing the expression of concern and subsequent document from UoG for Palestine is continuing its deliberations. The Committee has received and is carefully reviewing the submissions provided by members of the University community following the call for responses.

The Committee continues to meet regularly to consider the expression of concern, the complex issues it raises, and how they intersect with the University’s endowment investments. These matters involve significant fiduciary and ethical considerations, which the Committee is diligently working to balance in its deliberations.

The Committee anticipates delivering its final recommendations and report to the Finance Committee in the first quarter of 2025. The report will then be provided by the Finance Committee to the University’s Board of Governors. The Board will consider the report and any recommendations it contains in a public meeting. Members of the University community will be notified in advance of this meeting and will have the opportunity to review the report prior to its consideration.