University still deliberating whether it will become a full or partial UNGC member
Photo by Joshua Ngenda.
Divest UVic, a decade-old student group that began as a fossil fuel divestment campaign, recently proposed to UVic’s Board of Governors that the university become a signatory of the United Nations Global Compact (UNGC), a voluntary initiative that aligns corporate strategies with sustainable and ethical business practices.
The UNGC is a worldwide corporate sustainability initiative involving over 20 000 participant companies of various sizes. The main focus of UNGC is to guide and support businesses as they move toward a more sustainable future.
Divest UVic has succeeded in previous missions, including UVic’s divestment from fossil fuels in 2021.
In 2024, the group first presented this proposed revision of UVic’s Responsible Investment Policy to UVic Financial Planning, and, following a policy review, the university has agreed to move forward following the recommendations of the proposal.
The proposal identified a number of UVic investments that Divest UVic claims violate human rights principles. These include companies providing technology to the Israeli military, American prisons and businesses using prison labour, and DNA testing technologies for migrant families at the US-Mexico border.
The proposal was endorsed by 12 student organizations, including the UVSS, GSS, and some of the advocacy and affiliate groups at the UVSS such as the Gender Empowerment Centre and the Society for Students with a Disability.
Divest UVic argues that joining the UNGC would complement the university’s existing commitments to the United Nations Sustainable Development Goals (SDGs) and enhance transparency in its investments.
According to Divest UVic, joining the UNGC would provide UVic with additional tools and frameworks to assess and mitigate ethical risks in its future investments.
“We are confident that UVic could benefit from the investment framework and tools that the UN Global Compact can provide,” the proposal states.
At the Jan. 28 Board of Governors meeting, the motion to approve the revised Responsible Investment Policy was carried. This policy introduced several key changes to UVic’s investment approach and reaffirmed its commitments to the UN Principles for Responsible Investments (UNPRI). This policy was last reviewed in 2020 and held multiple objectives such as investing in Indigenous economic development and becoming a global leader in sustainability.
The updates on the policy will increase carbon intensity reduction, and their impact assessments from 25 per cent to 30 per cent. It will exclude investments to companies involved with weapon manufacturing aligned with statutory restrictions in Canada. Additionally, UVic has committed to aligning the policy with its Indigenous Plan and incorporating the ten principles of the UNGC, including standards on human rights and labour.
While the policy update is a significant step, the Board of Governors is still deliberating whether UVic will sign on as a full or partial member of UNGC.
Hailey Chutter, co-lead of Divest UVic, explained that plenty of work still lies ahead.
“There’s still other people that need to be on board with it first,” Chutter said.
In an emailed statement to the Martlet, a UVic spokesperson acknowledged that the university is currently consulting with community partners before committing to UNGC participation.
“The United Nations Global Compact was initially organized with for-profit companies in mind, not institutions like universities and charities. As such, educational institutions typically participate by submitting a Communication on Engagement report, which is less onerous than the Communication on Progress questionnaire required for businesses,” the spokesperson said.
Many universities are already committed to other UN initiatives. While UNGC’s main focus is on businesses, UVic could participate in UNGC initiatives without assuming the same reporting requirements as businesses.
Faculty, staff, and university partners including one of the UN’s training centres, the Centre International de Formation des Autorités/Acteurs Locaux (CIFAL) Victoria, are also being consulted to help assess the broader implications of joining the UNGC.
The spokesperson also noted that UVic has existing commitments to other UN initiatives such as the UN Principles for Responsible Investment and the UN Principles for Responsible Management Education, to which the Gustavson School of Business has been a signatory since 2009.
“If they became a full member, they would be the first university in Canada to do so,” Chutter said. “There’s only been a handful of universities that have been part of this global compact, but it’s always been one department of the university or a smaller section of it. So, if they did sign on as a full institution, it would be groundbreaking.”
As deliberation within the board of governors continues, Divest UVic and its supporters hope the university will take meaningful steps toward greater accountability in its financial decisions.
“It’s just been really inspiring to see the collaboration between financial planning and operations and students,” Zoé Lardière, co-lead of Divest UVic said. “Usually, it’s been more confrontational, but they’ve really been willing to work with us.”
“We’re here for the long run. We’re not going anywhere,” Hailey added. “If UVic does become a signatory on whatever level, we will have to keep them accountable to that.”
