Tuesday, April 10, 2007

UofT to dump tobacco investments

Found online at macleans.ca. Interesting given the move to consider smoking ban at UVIC.

The University of Toronto is the latest university to alter its investment portfolio, citing ethical concerns. With yesterday’s announcement to divest millions in tobacco stocks, U of T became the first educational institution in Canada to boycott the tobacco industry.

A student activist who successfully campaigned to have U of T sell off its tobacco investments says other Canadian schools should follow suit and end the "unethical practice."

"We hope that other institutions will get a clear message that investing in tobacco companies is an unethical practice and it's something that should not be done," Tyler Ward, president of Education Bringing Youth Tobacco Truths (E-BUTT).

Many universities have taken similar steps for ethical reasons. Recently, Queen’s University divested its holdings in two Chinese oil companies because of their involvement in Darfur.

Read the full story here

No comments: