McMaster fast tracking its commitments to reducing its environmental impact

McMaster’s multi-pronged approach to reducing impact on the environment is taking significant steps forward.

The Board of Governors has approved a new Investment Pool Policy that, together with the revised Energy Management Plan and Sustainability Strategy, accelerates the university’s goals to reduce and ultimately reach a carbon neutral status.

“To be able to speed up our goals is only possible because of the many people across the university who have embraced the need to reduce the environmental impact of the university in the face of mounting climate change,” said president David Farrar. “McMaster is a Canadian leader in taking an integrated approach to reducing our carbon footprint in both our investments and how we manage our campus. This approach will have the greatest impact at the university and on our world.”

McMaster’s original goal was to reduce carbon in university investments by 45 per cent by 2030. That target has been surpassed with more than a 50 per cent reduction in 2021.

The updated investment policy is aligned with the United Nations goals and was developed after an international best practice research study. It means that McMaster is accelerating its net zero goals for its investment portfolio emissions to a 65 per cent reduction by 2025, and 75 per cent by 2030, with the remainder as soon as possible after that date. Investment managers will also be required to ensure that companies held within their investment pools are aligned with carbon-reduction strategies and environmental sustainability.

McMaster’s investment holdings in clean technologies and the green economy will also increase from the current 24 per cent, thanks to additional recommendations approved over the past year.

McMaster’s progressive approach and success in responsible investing is highlighted in a newly released study by the C.D. Howe Institute which sees McMaster tie for first place in Canada with the University of British Columbia for its endowment emission reduction plan, governance and disclosure of its plan and progress.

“McMaster is a Canadian leader on United Nations-aligned responsible investment practices,” said Deidre Henne, McMaster’s AVP Administration and Chief Financial Officer. “Our Treasurer, Steven Moore and many others have been instrumental in helping to move McMaster to such a progressive position.”

The university’s updated Energy Management Plan is also looking to accelerate it net-zero emission plan.

“Across McMaster’s campus, our utilities group is initiating projects that conserve energy and reduce greenhouse gas emissions,” said Debbie Martin, AVP and Chief Facilities Officer. “The university’s Net Zero Carbon Roadmap original targets included a 75 per cent emission reduction by 2030, but we are now on track to achieve net zero carbon emissions on campus by as early as 2035.”

Find out more about the Net Zero Carbo Roadmap and McMaster’s new Sustainability Strategy.