The University of Toronto is on its way to becoming a "climate-positive campus" and announced on Wednesday that it will "divest from investments in fossil fuel companies in its $4.0-billion endowment fund beginning immediately."
According to a U of T news release, the university will get rid of direct investments in fossil fuel companies within 12 months and divest indirect investments by 2030.
University of Toronto Asset Management Corporation will also "allocate 10 per cent of its endowment portfolio to sustainable and low-carbon investments by 2025, representing an initial commitment of $400 million, and is committing to achieve net zero carbon emissions associated with U of T's endowment by no later than 2050."
Along with these financial measures, U of T has also committed to making its St. George campus "climate-positive by 2050."
The climate-positive campus will "curb more emissions than it emits" and plan to do this by "transformation of energy and utility infrastructure, adoption of cutting-edge building design and retrofit, expansion of renewable energy generation and other measures."
To achieve a climate-positive campus U of T has released goals for growth, renewal and resilience to change its infrastructure.
When it comes to expanding the St. George Campus, U of T says they will focus on responsibly managing growth and "the new Spadina-Sussex residence will be one of the first buildings on the St. George campus designed to meet the University's new rigorous carbon intensity target," according to the plan, by using a geoexchange system underneath Robert Street to lower carbon output.
The campus also plans to switch its central power plant from gas to electricity and utilize geoexchange technology to "regulate building temperature," and reduce the campus's carbon footprint.
The University Of Toronto Is Creating A Climate-Positive Campus & Here's What Will Change
Source: News Article Viral
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