Ad Hoc Committee on Special Action Requests (2017-18)

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 [1].

Special Action Requests Received

On Thursday April 6, 2017 the University of Guelph received a Special Action Request.

Special Action Request, Received Thursday April 6, 2017 [2].

Community Input Requested

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 October 27, 2017.

Further Consideration

At its January 23, 2018 [3] meeting the Board of Governors received the initial report of the Ad Hoc Committee and elected to refer the report "back to the Finance Committee for further consideration and reflection in light of the discussion and new information raised at the Board meeting."

After reviewing information from interested parties, University administration and third-party resources the Ad Hoc Committee approved revised recommendations. These revised recommendations will be considered at the January 23, 2019 meeting of the Board of Governors [4]. This meeting will be held at 1:00 p.m. in the Arboretum Centre.

The final recommendations of the Ad Hoc Committee are available in the January 23, 2019 Board of Governors meeting materials [5] at page 21.