Energy and Climate Change
Investing to Address Climate Change
The University of Toronto and McGill University are joining with a number of other Canadian universities in pledging to follow responsible investing practices to address the global challenge of climate change.
As part of this initiative, the universities have signed a charter that lays out a set of principles and practises they pledge to follow:
- Adopt a responsible investing framework to guide investment decision-making, in line with recognized standards such as the UN Principles of Responsible Investing (UN-PRI). Such a framework should:
- incorporate environmental, social and governance (ESG) factors into investment management practices
- encourage active engagement with companies to foster disclosure of ESG- (including climate-) related risks, and adopt operational practices that reduce carbon emissions and foster ESG-positive behaviour more broadly
- Regularly measure the carbon intensity of one’s investment portfolio and set a meaningful target for its reduction over time
- Evaluate progress towards these objectives on a regular basis and share the results of such assessments publicly
- Ensure that the performance evaluation of university investment managers takes into account their success in achieving such objectives, alongside the normal criteria for assessing their performance
Our Climate Change Commitment
In 2018, the University of Toronto joined the University Climate Change Coalition (UC3). The Coalition is a group of North American universities that have committed to help local communities achieve their climate goals and accelerate the transition to a low-carbon future.
As part of our UC3 commitment, the University has committed to reducing our greenhouse gas (GHG) emissions to 37 per cent below 1990 levels by 2030. Unfortunately, UTM does not have records of our energy use or GHG emissions dating back to 1990; therefore, we have elected to use 2005 as our baseline.
To help achieve our goals under UC3, we have put together a plan for how we will reduce our GHG emissions from 2019 until 2024. The Low Carbon Action plan was released on Sept. 27, 2019.
The City of Mississauga has also approved a comprehensive Climate Change Action Plan. For more information, please visit https://yoursay.mississauga.ca/climate-change/news_feed/mississauga-tackles-climate-change-with-citys-first-comprehensive-climate-change-action-plan
In addition, UTM has developed a five-year energy conservation plan. The plan was finalized in 2014.
UTM's Energy Conservation and Demand Management Plan was updated in 2019.
Notice regarding energy and greenhouse gas reporting:
The Broader Public Sector energy consumption and GHG emission reporting portal is open for the 2018 reporting period. Under O. Reg. 397/11 Broader Public Sector organizations are required to report on their 2016 energy consumption and GHG emissions by July 1, 2018. Information on how to complete the annual energy and GHG report, along with the dates and times for Ministry-hosted webinars, can be found in the toolkit area by logging into the Ministry of Energy’s Portal. In addition to annual energy and GHG reporting, Broader Public Sector organizations are also required to update their five-year CDM plans by July 1, 2019 and post them on their website, intranet site and make them available in hard copy at their head office. A guide on CDM plan requirements can be found in the CDM tab in the Toolkit. Contact BPSsupport@ontario.ca if you require further information or assistance.