Too Close for Comfort?
Exploring the Cozy Relationship Between the Fossil Fuel Industry & Dalhousie University
By Kaleigh McGregor-Bales & Megan Tremblay
A Report prepared for the Nova Scotia Public Interest Research Group
TABLE OF CONTENTS
SECTION 1: BACKGROUND
4
HIGHER EDUCATION IN CANADA- A BRIEF HISTORY
4
THE MODERN KNOWLEDGE ECONOMY
5
DECLINING GOVERNMENT SUPPORT: NEOLIBERAL IDEOLOGY REACHES CAMPUS
5
THE RISE OF THE CORPORATE UNIVERSITY
5
INDUSTRY-ACADEMIC RELATIONS
5
GOVERNMENT FUNDING STIPULATIONS
7
MANAGING AND ADMINISTERING THE MANAGERS AND ADMINISTRATORS WHO MANAGE AND
ADMINISTER UNIVERSITY OPERATIONS
8
BOARD MEMBER CEOS
8
ACCOUNTABILITY AND STUDENT INVOLVEMENT
9
THE ETHICS OF ENDOWMENTS
9
FOSSIL FUELS ON CAMPUS
10
SECTION 2: GOVERNANCE & DECISION-MAKING
12
DALHOUSIE’S BOARD OF GOVERNORS
12
DALHOUSIE SENATE
13
PRESIDENT & SENIOR ADMINISTRATION
13
STUDENT DECISION MAKING
14
FUNDING PRIORITIES
14
SECTION 3: FOSSIL FUEL INDUSTRY ON CAMPUS
16
FUNDING FOR PROGRAMS
16
2
GOT THE CREDENTIALS?
16
SHELL EXPERIENTIAL LEARNING FUND (SELF)
17
FUNDRAISING: DALHOUSIE’S BOLD AMBITIONS CAMPAIGN
19
IMPERIAL OIL
19
POTASH CORP
21
PENSIONS AND ENDOWMENTS
21
BACKGROUND
22
FUND MANAGER PORTFOLIOS
25
BANKS FINANCING THE TAR SANDS
26
THE CORPORATIONS
28
STARS (SUSTAINABILITY, TRACKING, ASSESSMENT & RATING SYSTEM)
28
SECTION 4: CONCLUSIONS & RECCOMENDATIONS
31
FOR STUDENTS
32
FOR DALHOUSIE UNIVERSITY
33
REFERENCES
35
APPENDIX A – DECISION-MAKERS AT DALHOUSIE
41
APPENDIX B - RESOURCES FOR FUTURE WORK
43
APPENDIX C - RESOURCES ON DIVESTMENT
45
3
SECTION 1: BACKGROUND
There is currently a democratic
deficit in our society. The federal and
provincial governments prioritize the wellbeing of big polluting corporations over the
well-being of both people and the planet. On
university campuses, corporate interests
carry a significant and disproportionate
amount of power over university affairs,
while students lack representation and
decision-making power.
upper-class men to receive an
education. The focus was academic rather
than pragmatic, though the place was
socially and economically exclusive. The
function and structure of, as well as access
to, universities in Canada changed
significantly following World War II.
During the war, there was a rise in focused
research at universities in order to meet
national ‘wartime objectives’ (Franklin,
2000, p.19). This trend continued after the
war, as research became a core purpose of
universities. The potential worth of this
research became particularly apparent after
the post World War II economic boom. This
period marked the beginning of economic
globalization, and business and government
saw the society-wide value in funding higher
education (Arsenault, 2007). The value they
saw was seated in military pragmatism and
capitalist production, rather than an ideal of
education.
In identifying the historic changes
that universities have undergone and the
growing corporatization of campus space,
we seek to shed light on how our campuses
are impacted by academic-industry
connections. Beginning with the advent of
the modern knowledge economy in
universities and the exploitation of this
knowledge by the federal government and
corporate interests, this report will discuss
why the increasing industry-academic
connection is problematic. Following a
discussion on how universities have begun
to receive and invest their funds, this report
will specifically investigate Dalhousie’s
investments and fundraising campaigns, and
expose the cozy relationship between the
fossil fuel industry and Canadian
universities.
In 1966-67 the federal government
increased spending on post-secondary
education by 400%, paying out $400 million
to universities, a dramatic increase from the
$99 million in funding the previous year
(Tudiver, 1999, p.24). In addition, the shift
in Canada’s economy from a resource-based
to a knowledge-driven economy both
increased university attendance and made
universities a target for corporate
intervention (Conlon, 2000, p.147).
Higher Education in Canada- A
Brief History
In the past one hundred years the
structure and purpose of universities has
shifted dramatically. Initially, Canadian
universities were exclusively a place for
4
The Modern Knowledge Economy
average student debt from $8000 to $25,000
(Conlon, 2000, p.148). But raising tuition
fees was not enough, and universities were
forced to seek out other sources of funding.
The governments’ funding cuts allowed and
even necessitated industry’s stepping-in; and
as a result the power to control and influence
research, was transferred from the public to
the private sphere.
The government and privateinterests, which had typically operated
outside of and remained separate from
public universities, began to realize the
potential profit of commercializing the
results of university-based research.
Canadian universities have been drastically
reorganized as a result of an increase in
external influence over the management of
university education, including how it
receives funds and what is included in the
curriculum. Transitioning away from a space
of learning, universities have become a place
to produce research that has market value.
Knowledge is no longer treated as an end in
itself; its merit is now distinguished by its
practicality in the real world.
The Rise of the Corporate
University
Universities attempted to deal with a
loss of public funding by seeking out private
sources of funding, embracing corporate
management principles (Cote & Allahar,
2011, p.91) and becoming more
entrepreneurial.
Declining Government Support:
Dominant market ideology asserts
that the marketplace exists to make profit.
Corporations and the government
increasingly saw potential for universities to
become a profit-maximizing entity where
new knowledge and technology could enter
the marketplace.
Neoliberal Ideology Reaches
Campus
The economic changes resulting
from neoliberal globalization in the 1980s,
which brought sweeping privatization,
deregulation, and de-funding of public
institutions, played a major role in causing
the corporatization of universities. Canadian
universities suffered when the federal and
provincial governments withdrew financial
support as part of the neoliberal agenda. In
the 1990s, federal and provincial
governments further cut post-secondary
education funding. Universities had to cope
with reduced financial support from the
public sphere (Eastman, 2007). During this
period, tuition fees increased by a national
average of 126% and led to a rise in the
Industry-Academic Relations
Various government sponsored
reports,1 partisan think-tanks, and ‘quasi-
1
The Corporate-Higher Education Forum (CHEF)
was established in 1983. It included CEOs from
companies including Shell, Xerox, the Royal Bank,
Nortel and most University Presidents, with little
academic representation. Appointed by Prime
Minister Trudeau, the MacDonald commission
released a report in 1985 recommending an economy
5
academic free-market consultants’ reported
that publicly administered institutions were
inefficient and greater corporate
participation in universities was desirable
(Conlon, 2000, p.147). Universities started
to experience the financial benefits of being
able to produce knowledge and technology
in exchange for money (Bok, 2003). On the
other end, corporations began to view
universities as a pool of profitable
knowledge and ideas that could contribute to
the economy by conducting industryspecific research and forming spin-off
companies2 (Metcalfe, 2010).
While the fossil fuel industry is
investing more and more money to campusbased research there has actually been a
decline in ‘in-house’ research conducted by
fossil fuel corporations. In the 1980s the
research and development budgets of the
four largest oil companies—ExxonMobil,
BP, Shell and Chevron—were an average of
$6.4 billion (US) per year. By 2000 it had
declined to $1.7 billion (US), and it has only
increased marginally since (Washburn,
2010). In the United States, Maria Klawe
and Telle Whitney3 noted that private
industry has been abandoning applied
research. As a result, these industries have
turned to universities to conduct the applied
research that they now lack capacity for
(Klawe & Whitney, 2003, p.171). This has
resulted in industry profiting from
commercial research done at universities
(Graham, 2000, p.26).
wide shift to free trade and included that greater
corporate participation in universities was desirable.
The Prime Minister’s Advisory Council on Science
and Technology commissioned the Expert Panel on
the Commercialization of Research. The panel was
made up of leading figures from the high-tech
industry, as well as both Canadian and American
University Administrators with experience in the
commercialization of research. There were no
university researchers on the panel. In 1999 the Panel
released the Report of the Expert Panel on the
Commercialization of Research. The report
recommended major changes to ensure the
commercial potential of university research was
privileged over not-for-profit research in the public
interest, and tied university funding to the ability of a
university to commercialize its research.
Marketability became a prerequisite for research
funding.
2
A spin-off venture, in relation to universities, can be
defined in two ways, both of which require external
involvement by a private corporation. First, a spin-off
venture can be defined as venture that is created in
order to ‘commercialize intellectual property’ that a
company commissions from a university researcher.
This result is then given to the company (Simon
Fraser University Innovation Office, n.d.). As a
result, the university would receive some sort of
compensation from the company such as a share of
royalties (ibid). Secondly, a spin-off venture can be
Corporate interests in universities, as
described above threatens the integrity of
universities. Corporations have an increasing
amount of involvement and input over what
is being researched and published (Renke,
2000, p.32). Universities are becoming
economically motivated research institutions
defined as a venture of which a university professor
or faculty member is a principal founder. Such a
venture depends on a technology developed at the
university (ibid). Thus, universities are increasingly
treated as an institution to be exploited by
corporations who commercialize the product and
make large sums of money.
3
Maria Klawe is Dean of Engineering and Applied
Science at Princeton University and Telle Whitney is
President of the Anita Borg Institute for Women and
Technology.
6
and less of a public learning space. This is
extremely concerning for those who value
more than the economic bottom line. One of
the major issues with commercializing
university knowledge for profit is that it is
often done without any regard to whether or
not it is ethical (Mintz et al., 2010, p.6).
Funders provide stipulations when money is
given to universities, and if these are not
followed, funding can be withdrawn.
increased secrecy, and reduced academic
sharing of research data and materials.5
The overall structure of the
university has come to resemble a private
business more than a public institution of
learning. Corporate funders are exerting
their influence in the classroom, labs and
hallways of universities (Klawe &Whitney,
2003, p.30). Universities are sustaining the
profitability of these corporations by
allowing company logos and values to
infiltrate classrooms and campus space.
This corporate presence and control
over research and curriculum shapes how
faculties and universities function in the
market economy. If a corporate donor has
control over when and where funds are
spent, and if faculties rely on those funds for
their research, the results may favor that of
private interests (Renke, 2000, p.32). This
could give preferential treatment to outside
influences and can hinder freedom of
thought in academia (Klawe & Whitney,
2003). Further, significant analytical and
empirical research has found that corporatesponsored research is far more likely to
favour the company’s products and/or
commercial interests compared to
government or non-profit funded research.4
In addition, industry-sponsored research is
linked to growing corporate control of
academic data, delays on publication,
Government Funding Stipulations
When the Canadian government
began to appreciate the potential for profit
from investing in university
entrepreneurship and research, it strategized
and developed specific research funding
agencies. The federal government’s
changing ideology led it to attach
stipulations to its funds and encourage more
marketable research and private donations.6
5
Companies can require a delay in publication time,
have the right to own the results or approve the final
paper, or terminate trials. This has been shown to
encumber open scientific exchange. Studies
conducted by Campbell, Louis and Blumenthal
(1998), Campbell et al. (2000); found in Washburn
(2010). Companies can require a delay in publication
time, have the right to own the results or approve the
final paper, or terminate trials. This has been shown
to encumber open scientific exchange. Studies
conducted by Campbell, Louis and Blumenthal
(1998), Campbell et al. (2000); found in in Washburn
(2010).
6
Approaches such as matched-funds programs where
the government will match funding provided by
private donors or targeted funding for specific
programs or research ‘in the national interest.’
4
Studies conducted by Blumenthal et al. (1996),
Gøtzsche et al. (2008), Mejia (2008), Lexchin et al.
(2003), Barnes and Baro (1998), and Bero et al.
(2007); found in Washburn (2010).
7
compile the data to give to the staff so
they can give it to the administrator
who gives it to another administrator,
and once one gets to this level of
complication, one needs a whole set
of other people to see if everyone is
following the state and federal
guidelines, and the expansion
continues to infinity.”
Government investment in Canadian
universities has been increasingly focused
on the development of new, cutting-edge
technologies intended to maintain Canada’s
competitive advantage. The government’s
current funding is tied to economic interest
of and the expansion of “commercialization,
innovation, and entrepreneurship” (Madgett
& Stoney, 2009, p.148; Doern & Stoney,
2009, p.6).
This shift has dramatically changed
the landscape of universities and has been a
part of the shift away from learning towards
turning a profit.
Managing and Administering the
Managers and Administrators
Board Member CEOs
Who Manage and Administer
One of the most dramatic changes
that occurred in Canada during budget cuts
of the 90s was the importance of fundraising
to Canadian universities (Owram, 2004,
p.177). Fundraising impacted the
organization of universities in two main
ways: by shifting the power between
particular faculties and programs, and by
changing the organizational structure into
more of a corporate managerial style (Fisher
& Atinson-Grosjean, 2002, p.452).
University Operations
The move to more scientific-researchfocused universities, the increasing pressure
to bring research findings to the market, and
the growing need to compete for public
funding and attract private funders have led
to an explosion of non-academic staff and
departments on campus (Washburn, 2005).
Lawyers, accountants, regulators, and other
staff are required to manage the new
functions of universities, through which an
entire meta-industry of university
management has emerged.
Universities became much more
dependent on alumni and corporate funds. In
order to manage these funds efficiently, the
organizational structure of universities had
to adapt. Budget committees were formed
and administration became more managerial
with a heavy focus on public relations to
make the university image more attractive so
that fundraising campaigns would be more
successful. The importance of having a
corporate-savy Board of Governors to
oversee and encourage fundraising has led to
more and more representation from the
Samuels (2011) elaborates:
“After all, they have to have
administrators and staff to run
compliance offices, regulate research
centres, oversee venture capital
enterprises, and to undertake
fundraising activities. They also need
administrators to watch over the other
administrators, and then they need
staff to collect the information so that
administrators can watch over other
administrators, and of course, these
institutions need computer staff to
8
business community. This will be explored
further in Section 2.
The Ethics of Endowments
Accountability and Student
The main form of external revenue a
university receives is in the form of
endowments.
Involvement
In their efforts to remain financially
viable, universities must attempt to please
their wealthy donors. Where the interests or
expectations of the donors are in conflict
with those of the students or the public, the
wishes of the donors will likely win because
the universities are reliant on their funding
(Walker, 2008, p.47). In these circumstances
the university risks compromising its values
as an academic institution (Mintz et al.,
2010, p.17). Because it is the administration
making these decisions, the notion of
accountability has actually led to a decrease
in student and faculty involvement, and a
growing environment of secrecy (Polster &
Newson, 2009).
What is an endowment?
An endowment is a gift or funds
donated to an institution that is
invested and used as a source of
income.
A portion of the revenue from the
investment is paid out every year to
campus operations, programs or
projects than can be specified by the
donor.
(Adapted
wearepowershift.org)
These from
endowments
can come
from
wealthy individual donors or companies.
The university then invests the money so
that it can use its profits as a source of
finance in perpetuity.
Universities and their administration
are making decisions in order to remain
accountable to corporate interests and their
own interest in maintaining the financial
bottom line. A conflict of interest occurs
where the decisions made by a university
administration for financial reasons are
opposed to the educational mandates as set
out by concept of the university as a public
institution of higher education. (MacDonald
et al, 2002, p.68). Why doesn’t the
university sever its ties with corporations?
We return to the current economic status quo
that has been pushed and maintained within
our capitalist, neoliberal society.
How this money is invested can be
challenging to determine as many
universities keep this information
confidential. Although some argue that
investments are “financial transactions
disconnected from social, political, or
environmental ramifications, this couldn’t be
further from the truth. In providing capital
for...corporations...and environmentally
destructive activities,” investments support
unethical corporations and destructive
activities (Newton, 2000, p.419-420).
Universities across Canada have been able
to maintain unethical investment practices
based on the argument of neutrality. Stating
that they must not compromise their role as
9
an educational institution, universities argue
that by adopting a social conscience, they
are putting academic freedom and neutrality
at risk (Newton, 2000, p.421). An issue with
this argument is that with such close ties to
corporate interest, and a decreasing role in
the public sector, universities cannot
maintain their neutrality. This is due to the
fact that profitability remains the guiding
principle of investment practices, making it
clear that “universities have more than a
corporate influence; they have a corporate
consciousness” (Kniffin, 2000, p.42).
fuel culture (Fenton, 2011). According to
MacDonald Stainsby of Oil Sands Truth,
"The idea behind doing sponsorships,
buying up auditoriums and whatnot under
the Shell, Suncor or Albian name is entirely
part of normalization. It gives the image that
[oil companies] are part of your community
to create the impression that they are not
only there, but that they will inevitably
remain there and you need to accept that and
find ways to work with them instead of
shutting them down" (Fenton, 2011). The
fossil fuel industry has a long history of
denying climate science (Washburn, 2010,
p. 40) and their marketing and recruitment
on campus should be questioned.
Fossil Fuels on Campus
Fossil fuel corporations have been a
major part of the corporatization of the
university described above. The role of the
fossil fuel industry in universities takes
many forms, including:
The loss of public funding described
above has made universities increasingly
reliant on funding from fossil fuel
corporations. They are left vulnerable to the
whims and requirements that corporate
funders can stipulate in order to provide
funding. Furthermore, the academic integrity
of universities is at risk from the increasing
influence of fossil fuel corporations. An
analysis of research partnerships between
American universities and fossil fuel
corporations showed that most contracts
involved a loss of independence and
academic self-governance for the
universities (Washburn, 2010). The problem
isn’t necessarily inherently that the fossil
fuel industry is funding research but whether
or not the fossil fuel industry is using these
research partnerships to advance a prescripted viewpoint to meet their financial
gains (Arsenault, 2007).
1.
2.
3.
4.
Donations to buildings
Funding for Research
Funding for Programs
Recruitment for employment and
participation in co-op programs
5. Advertising on campus
Universities in turn have their money
from pension and endowment funds invested
in these companies. This cozy relationship is
highly problematic for many reasons.
Universities that advertise as being
supposedly increasingly committed to
sustainability are compromising their
commitments by allowing fossil fuels to
play a progressively larger role in their
operations. Allowing fossil fuel corporations
to promote themselves and their greenwashing initiatives is contributing to a fossil
Research that has social value, but
10
the purpose of ‘sponsored research’ funding
was to “train and educate highly sought after
graduates for research, technical and
management positions in the energy sector.”
This is in some regards a mutually
beneficial relationship: universities receive
funding for research and education,
graduates are promised (gainful if not
meaningful) employment, and the fossil fuel
industry receives both graduates already
trained to work in the industry and
technology designed for the industry.
However, the resulting industry-specific bias
in the curriculum leaves graduates ready to
work only for the fossil-fuel industry. These
grads are unprepared for work in other fields
such as green energy, are socially and
ethically normalized to the fossil fuel
industry, and are often so far in-debt that
fossil fuel industry jobs are often the easiest
or only opportunities available. Essentially,
these companies design students who have
no choice but to work for them.
which has less potential to generate
commercial profits is not as likely to be
conducted. According to Washburn (2010),
in the area of energy research, this might
include: studies comparing the relative
social, economic, energy, and environmental
consequences of various competing
alternative-energy technologies; advanced
research to measure carbon and other
greenhouse gases emitted from various
sources; or the development of effective
carbon caps, taxes, trading, and measuring
systems. The lack of research for the publicgood of this nature being carried out
independent of industry or special-interest
groups is detrimental to the shift to green
economy.
The lack of transparency and
accountability with regard to academicindustry partnerships is also problematic.
There is no database or centralized national
system that exists for tracking individual
academic-industry partnerships and most
universities will not release comprehensive
information (Washburn, 2010).
For all the money coming in from the
fossil fuel industry, universities are, in turn,
financially supporting the fossil fuel industry
through their investments. This will be
investigated further in Section 3.
The fossil fuel industry can see
funding universities as a means of training
for future employees. Dalhousie (2004) said
11
SECTION 2: GOVERNANCE & DECISION-MAKING
o
This section will look at the
governance structure at Dalhousie, including
the roles of the Board of Governors, the
Senate and the Senior Administration.
o
o
The Dalhousie administration has
become intensely diversified and
specialized, resembling the managerial style
of large corporations.
o
o
15 persons appointed by the Governor
in Council upon recommendation of the
Board
3 persons appointed by the Board
4 persons nominated by the Dalhousie
Alumni Association and approved and
appointed by the Board
3 persons nominated by the Dalhousie
Student Union and approved and
appointed by the Board
2 members of the full-time teaching
staff nominated by the University
Senate and approved and appointed by
the Board.
University affairs are divided and
managed by two separate bodies: the Board
of Governors and the Senate (Jones &
Skolnik, 1997, p.282). The Board and
Senate have committees that form proposals
to bring to the Board and Senate.
For profiles of some of the current
board members see Appendix A.
The Senior Administration is charged
with overseeing the implementation of the
decisions made by the Board.
The Senior Administration have “leading
executive management role[s]” (Jones,
2002) and each manage elements of
university operations like research and
student services. There are academic and
non-academic departments and offices that
carry out these operations and report to the
Senior Administration.
The Board of Governors has the
highest degree of power and influence over
the university, as it must approve all
recommendations made by our Senate
(academic affairs) and must also appoint the
university President. Among other
responsibilities, the Board, appoints the
President, approves decisions relating to
university operations, designs and
implements annual budgets and decide
tuition rates (with input from the Provincial
government).
Dalhousie’s Board of Governors
Dalhousie’s Board has 9 committees,
including Academic Affairs & Research,
and Investment.
The Board is composed of (Dalhousie,
Appointment Process):
o
o
o
It is the Board Committees that do much of
the work and then they report their outcomes
to the Board. These meeting are held incamera and as such the records are not
available to the public. The supposed
accountability of the governance structure
Chancellor [ex officio]
President and Vice-Chancellor [ex
officio]
Chair of the University Senate [ex
officio]
12
President & Senior Administration
falls away for the sake of authority and
efficiency.
The university President is the head
of Dalhousie’s Senior Administration and
sits on the Board of Governors, as well as all
of its committees. The credentials necessary
to become a university President have
changed drastically due to the necessity for
universities to maintain their financial
viability (Soley, 1995, p.20). Credentials for
this position include administrative
experience and ties with corporations
(Soley, 1995, p.20:21). It is astonishing that
the President of a university is not selected
based on academic merit or their position
within an academic department, but for their
ability to attract external funds (Soley, 1995,
p.21). To add insult to academic injury,
university Presidents are receiving six figure
salaries for being successful fundraisers
(Soley, 1995, p.25).
Dalhousie Senate
The Senate has the responsibility of
overseeing academic affairs at Dalhousie
(such as setting academic calendar, giving
out degrees) and must submit all
recommendations to the Board of
Governors. There are 72 members, with 6
student members.
In 1990, the Senate released an
environmental policy for Dalhousie. We
want to highlight two important points
mandated with respect to research and
corporate relationships on campus:
“2) Dalhousie University will strive to
conduct its research activities in ways
that are environmentally appropriate.
Dalhousie University will also encourage
its faculty and associates to conduct
research that investigates the causes and
mitigation of environmental degradation,
as well as social, economic and industrial
pathways towards sustainable
development.
5) Dalhousie University will play an
exemplary role by ensuring that its
corporate operations become as
environmentally sound as allowed by
technology, economics and common
sense.”
The Senior Administration consists
of the President and five Vice-Presidents.
Each Vice President is in charge of
overseeing and managing a portion of the
university’s functions. Two noteworthy
Vice-Presidential roles at Dalhousie are
currently held by Ken Burt, VP Finance and
Administration, and Floyd Dykeman, VP
External. Vice President of Finance and
Administration is responsible for finances
and also human resources, real estate
management and the Office of Sustainability
to name a few. Vice President of External’s
role is to act as a strategic liaison between
Dalhousie and its external relations and is in
charge of communications and marketing.
We will discuss further how these
policies are not maintained at Dalhousie
University later in this report.
13
Student Decision Making
As introduced in Section 1, one of
the changes seen in universities is the
growth in non-academic departments and
management. It is worth noting the amount
of money that is spent annually on
maintaining specialized managerial positions
at Dalhousie. These positions vary from
secretarial to legal and they are part of the
different departments that have been created
to manage corporate relations, fundraising
initiatives and marketing research among
other functions (Dalhousie Annual Financial
Report, 2011). In 2011, the second highest
responsibility expenditure of the university
(the first being renewed funding for all
academic departments) was administration.8
Students’ tuition fees compose 32%
(104, 602 tuition/ 323, 413 total revenue) of
Dalhousie’s revenue (Dalhousie Annual
Financial Report, 2011). Should students not
then have 32% representation on the Board
of Governors, the highest decision-making
body? As shown above, only 3 out of 27
(11%) Board Members are students. Most of
the Board is composed of old, white men
who have a background in business. Is this
truly representative of the student body?
Only 3 out of 16 members of the Student
Experience Committee (a committee of the
Board of Governors) are students. Are the
needs of students being heard or addressed
fairly?
The total spent of administration was
$24, 761, 000. By comparison, the total
expenditure for student services9 was $ 5,
776, 000.10 It is worth considering whether
the priority placed on student services
(accessibility services, counselling and other
services for students) which is at presence in
the hands of the corporate Board and not the
students who are the core of intellectual
labour at the university would be different if
students held more decision-making power.
Funding Priorities
Fundraising has become critical to
the university. The importance granted to
financial matters and marketing a fundable
image has led to the corporatization of
governance.
The result has been that he Board,
Senate and Senior Administration are not
representative of the university community.
As such the decisions reflect the values and
priorities of the corporate Board, which may
very well differ from what the students and
community value and prioritize.7
8
Responsibility expenditure is all non-general
operating expenditures. Among others, it includes
Facilities Management, Student Services, Academic
and General.
9
Student Services includes: among others,
counseling, student health, varsity, intramurals &
clubs
10
These figures are based upon the actual 2010-11
operating budget results, as calculated including the
endowment variance
7
For example, the university is empowered to lobby
the government to not cut funding or raise tuition
however these efforts have not been witnessed.
14
15
SECTION 3: FOSSIL FUEL INDUSTRY ON CAMPUS
This section will examine the cozy
relationship between Dalhousie University
and the fossil fuel industry.
Funding for Programs
corporate presence. Other impacts and
considerations
Corporations are now giving
increasingly directed gifts to particular
university departments and their facilities.
These funds have become
a major form of revenue
for Canadian Universities
(Soley, 1995, p.146;
Walker, 2008). Although
these funds have become
more and more necessary,
the necessity has been
constructed by external
forces, acting in an
ongoing feedback loop
which reinforces itself.
Corporate funding replaces lost government
funding, which is rationalized with recourse
to increasing corporate funding. We must
question how these funds permeate through
the fabric of the university and how impacts
can extend through campus and community.
Got the Credentials?
Research
shows that industry
favours students who
have participated in
field experience
programs. Work
terms are designed
for students to build
direct relationships
with industry
professionals and
gain real-life
experience (Klawe & Whitney, 2003). As
noted in Section 1, funding by corporations
involves making an agreement and forging
direct ties between the university and the
donor (Graham, 2000, p.26). At Dalhousie,
the Department of Earth Sciences and
Engineering have both benefited from
funding by Shell in order to provide real-life
experience that links students with industry
(Faculty of Engineering). For example, Shell
funds annual field excursions and tours for
Earth Sciences students that take place on
Shell property and various oil rich territories
(Department of Earth Sciences, 2007).
These excursions are part of an academic
course at Dalhousie. This type of
programming encourages learning and
One example of where this occurs at
Dalhousie is Shell, who makes equipment
donations annually to the department of
Earth Sciences (specifically, the petrography
lab). This normalizes further the relationship
between students and the fossil fuel
industry. It artificially increases students’
opinions of the corporation, effectively
allowing for a continually increasing
16
knowledge advancement in sectors that
cause social and environmental harm.
Although experiential learning is an
important component to any field of study, it
is the focus on the fossil fuel related
curriculum, and the reliance on external oil
funding that is problematic. Why? In 2006,
when announcing SELF funding, then
President and CEO of Shell Clive Mather
proudly stated that “As well as forming
strong bonds with the students and faculty,
the Ambassadors will help reinforce Shell’s
reputation as a first class employer” (Faculty
of Engineering). If relationships between
fossil fuel corporations and students
continue to become stronger, the link
between student graduates and Shell as a
potential employer will only grow stronger.
Shell Experiential Learning Fund (SELF)
This sort of relationship does not
correlate with Dalhousie’s Senate
Environmental Policy, which states that
Dalhousie and its students should be
participating in research activities which
will lead to social and economic pathways
for sustainable development. Fossil fuel
corporations like Shell are not sustainable,
as they rely on the profitability of a finite
resource that contributes to climate change,
and causes devastating social and
environmental harm.
Dalhousie is one of many
universities in Canada that receive funding
from Shell through their national campaign
to support education (Shell Canada). As part
of the Campus Ambassador Program (CAP),
Shell has senior advisory officials present on
16 campuses across Canada (Shell Canada).
These advisory roles at Dalhousie extend
from student mentoring and project advisors
to participating in field-based excursions
(Faculty of Engineering). Under the CAP
program, Dalhousie receives money through
a fund called the Shell Experiential Learning
Fund (SELF) which was established to
provide experience for students beyond the
classroom. SELF funds are divided three
ways among the faculties: Design
Competitions for Engineering students,
Field Schools for Earth Sciences students
and Student Research Projects for both
faculties (Faculty of Engineering).
When investigating this program we
found very little specific information, except
for in an Earth Sciences Newsletter dated
2006. It stated that Shell would donate
$200,000 over a period of three years to
each of Engineering and Earth Sciences, to a
total of $400,000. Internal departmental
funding also contributed to funds provided
by Shell, as was the case with the Faculties
of Engineering and Science at Dalhousie
which supplemented the fund in 2006 by
17
$45,000 (Faculty of Engineering). A 2011
Unit Review Documentation by the Earth
Sciences Department stated that Dalhousie
has continued to receive between $50,000$60,000 annually from SELF since 2006,
which now supports faculties of
Engineering, Management and Earth
Sciences. This document noted that SELF
allows students to travel and meet directly
with Shell professionals; supports student
research and field trips and helps students
travel to conferences.
The source of funding that faculty
receives can have an impact on the content
they cover in their courses or the research
that students undertake. For example, an
Earth Sciences professor at Dalhousie
University who has supervised a field
component for a graduate seminar in
Sedimentology, took students on various
excursions in order to get some hands-on
experience. A former Geoscience
Researcher at Chevron Texaco, they led
these field excursions in the same areas
where they used to do excursions with
Chevron Texaco. It has been widely
acknowledged that over the years this same
professor has received funding from fossil
fuel companies like Encana, Shell and
Imperial Oil (Department of Earth Sciences,
2011). While this may be cast as the sharing
of experience and resources, it impacts the
lens though which students gain knowledge
and develop opinions.
It was difficult to find any specific
information about particular guidelines and
criteria that Dalhousie must follow as a
recipient of SELF funding. However, there
is a Terms of Reference document available
detailing the relationship between the
University of Alberta and SELF. One term
of reference which struck us was that:
“project ideas must demonstrate
relevance to course work, and Shell
Canada’s business. Preference will
be given to projects that facilitate
interaction between Shell Canada
employees and students” (University
of Alberta)
Although the example above
illustrates a direct link between fossil fuel
corporations and faculty, not all faculty
members in the Earth Sciences and
Engineering departments receive external
funding with such stipulations attached. We
are merely illustrating that when money is
accepted from fossil fuel corporations it can
determine research topics taken on by
students and faculty, content taught in class
(because the research topics of the professor
will have an effect on what they teach,
work-term placements, and culture within
the department (Graham, 2000, p.26).
This quote, in relation to student
research project topics, demonstrates the
direct relationship and influence Shell has
over the funding received and research
conducted by students. As Dalhousie seems
to have no public record of a SELF Terms of
Reference, we can only suppose this
relationship at a fellow Canadian university
is similar to other universities that are SELF
recipients.
18
Imperial Oil
Fundraising: Dalhousie’s Bold
Ambitions Campaign
Fundraising has become an
important strategy for universities across
Canada as they struggle to find new ways to
attract external revenue. Known as
Dalhousie’s $250 million Campaign, Bold
Ambitions has amassed a series of
noteworthy donations from alumni and
corporations. Many of these donations have
been from Canadian banks, which invest in
the tar sands or directly from fossil fuel
corporations such as Imperial Oil. These
funds from corporations complicit in
causing social and environmental
devastation, and the banks that support
them. By accepting these donations
Dalhousie is sacrificing its integrity as an
institution of learning committed to
sustainability by fostering relationships with
fossil fuel corporations and banks that invest
in these corporations.
As part of the Bold Ambitions
campaign, Imperial Oil Foundation has
donated $400,000 to be distributed over a
four year period for a program called Math
Circles. Like the Shell SELF program, this
is given annually. . Quoting the need to “live
in a country with a science-based
population,” Imperial Oil suggests that “...if
(Canada) wants to stay competitive, we need
to spark the imaginations of this generation
in the sciences and mathematics” (DUOER,
2008) But how does Imperial Oil hope to
spark our imagination? Donations like these
create relationships between fossil fuel
corporations and allow them to influence
what topics; logos and viewpoints students
are exposed to (Graham, 2000, p.26). The
simple presence of the Imperial Oil name
and logo on materials produced by Math
Circles will maintain the image that these
industries are an acceptable part of our
society.
Dalhousie does not have a screening
process for where funding comes from. It’s
all about maintaining the bottom line. We
recommend that Dalhousie establish a
fundraising policy that prohibits accepting
money from unethical sources.
19
Potash Mining in Penobsquis, NB
In order to comprehend why this next case, in our opinion, represents the worst
case of Dalhousie’s implicit support of social and environmental harm in a neighbouring
maritime community, we will briefly outline a few things. First, Potash is an umbrella
term representing “all potassium salts that are used as fertilizers” (UNEP, 2001). Potash
mining is an extraction process to collect potash and phosphate rock to produce a
fertilizer (UNEP, 2001). This extraction process causes excessive environmental
damage as “dust and exhaust gas are released into the air, while the leaching of toxic
minerals and processing wastes may end up in the groundwater (Mining Watch Canada,
2007).” There has also been warning that the extraction process or dewatering can have
an effect on water supplies (UNEP, 2011). PotashCorp Saskatchewan is the leading
producer of Potash fertilizer and in 2004 it began mining operations in the area of
Penobsquis, New Brunswick (CCP, 2012).
In 2004, PotashCorp Saskatchewan began a series of seismic testing in the area
of Penobsquis. Seismic testing disrupts the lives of those living nearby as it includes the
planting and detonation of dynamite (CCP, 2012). This testing is completed by
corporations that are searching for oil or other minerals in the ground. The damage from
seismic testing in the town of Penobsquis included muddy and contaminated tap water
and households shaking (CCP, 2012). When mining activity officially began, residents
lost their water supply. It was not long before residents realised that a loss of water was
linked to the mining activity, as Potash mines require a large amount of water for the
extraction process. Local government officials and the Provincial Department of
Environment knew what was happening, and only very poor solutions have been
implemented. In the end, residents still do not have control over the inflow of water to
their homes. Due to Potash mining in the town of Penobsquis, homes are sinking, air is
being polluted, and water is being lost. Many citizens of Penobsquis have come together
to fight mining activity in their area, but they have slowly learned that the relationship
between industry and government takes precedence over the lives and health of ordinary
citizens.
Citizens of Penobsquis organized under the name Concerned Citizens of
Penobsquis and have filed a claim with the Mining Commissioner seeking
compensation. This hearing has been called ‘The New Brunswick Mining Commission
Hearing’ and although currently stalled, will continue in June 2012 (CCP, 2012). This
case brings awareness of the social and environmental harms of mining activity, and it is
happening right here in the Maritimes.
20
“At PotashCorp, we know that
quality of life in our local
communities depends on access to
quality healthcare. We hope that
this investment helps to provide
better care across southern New
Brunswick and supports our
province’s effort to retain more
young physicians going forward”
Potash Corp
- Mr. Stewart Brown, General
Manager, PotashCorp New
Brunswick
How is Dalhousie tied to the Potash
case described above? Dalhousie’s medical
school located in New Brunswick has
recently accepted a $500,000 donation from
PotashCorp (Dalhousie, Medicine), as part
of the Bold Ambitions campaign. But what
sort of Bold Ambitions are being
encouraged, and why is Dalhousie relying
on donations from corporations clearly
perpetuating social and environmental
injustice? The PotashCorp donation will be
“used to attract and support a research chair
in occupational medicine (Dalhousie,
Medicine N.B.).” The trend of targeted
research funding continues.
This quote is an insult simply because it is
widely known that the health and
environmental effects of mining are
devastating. The company’s very existence
and everyday operation is fundamentally
contrary to its advertised image.
Relationships like this cause
inarguably damaging practises to be
rationalized, normalized, and perpetuated
Pensions and Endowments
Dalhousie’s relationship to the fossil
fuel industry goes beyond accepting gifts
and donations from large corporations.
Dalhousie also makes financial contributions
to fossil fuel projects by investing the
money it holds in its endowment and
pension funds. Research on Dalhousie’s
particular fund managers and investment
portfolios revealed that Dalhousie has a
substantial amount of money invested in
various fossil fuel corporations all over the
world.
Arguably the worst aspect of this
unethical link between PotashCorp and
Dalhousie is the sort of media coverage
these donations receive. Even if PotashCorp
does not extend its influence directly over
who is hired by Dalhousie and the topic of
research, this generous donation has allowed
PotashCorp to extend a financial hand and to
give the unethical activity of Potash Mining
a good face within the community. This
quote was found on the Dalhousie media
webpage:
21
This section of the report focuses on
the connection between Dalhousie’s pension
and endowment investments and the fossil
fuel industry.
through pension funds and endowments.
(CURI, 2011). Dalhousie’s existing
endowments are valued at approximately
$364.1 million (Dalhousie, 2012).
Background
At Dalhousie, the Investment
Committee of the Board of Governors
According to the Dalhousie’s Endowment
oversees all investment policies and
Management Policy (1990), core education
decisions. They
programming is
contract investment
funded primarily
Dalhousie as a Shareholder
management out to 21
from public (i.e.
When Dalhousie invests its pension and
investment managers
government) and
who are each
user (i.e. student)
endowment funds, it becomes a
responsible for tailoring
sources.
shareholder in corporations that it owns
Enrichment
stock in. As a shareholder in the company an investment portfolio
for Dalhousie. This
activities seek
Dalhousie has certain rights to vote on
means that each
funding from nonparticular corporate matters and to make
investment manager
core sources,
statements (directly or by proxy) at the
invests part of
primarily
shareholder meetings. Dalhousie’s
Dalhousie Pensions and
endowments.
shareholder voting records are available
Endowments in
Universities
only to Trustees and Senior
different corporations
invest both the
Administrators and their fund managers
in order to receive a
endowment money
handle the shareholder voting
rate of return.
they receive and
(Sustainable Endowments Institute,
Dalhousie uses a
money held in their
strategy of diversity and aims to receive a 72011).
pension fund.11 All together, Canadian
8% rate of return on their investments
universities have $41 billion in investments
(personal communication with Rochelle
Owen, April 2012).
Dalhousie does not have any
environmental or social responsibility
11
Pensions are a regular payment made during a
person's retirement from an investment fund to which
that person or their employer has contributed (google
dictionary). Dalhousie’s Pension Plan is an employer
sponsored, Defined Benefit Plan. This means that
employees receive a specific, predetermined
retirement benefit, and it is solely the employer’s
responsibility to ensure that the plan is financially
healthy enough to pay out those benefits (DSU,
2012). The negotiations between Dalhousie and the
Dalhousie Faculty Association that nearly led to a
strike in February 2012 were largely focused on the
structure of pension plans. The Board of Governors
wanted to move to a Jointly Sponsored, Defined
Benefits Pension Plan, which still promises members
certain benefits; however it is responsibility of both
the employer and employee groups to ensure that the
plan is financially healthy.
22
criteria for their investments. Dalhousie does
not invest in renewable energy funds or
community development loan funds
(Sustainable Endowments Institute, 2011).
Within their Endowment Management
Policy (1990), it is stated that a donor can
request that certain financial management
constraints be placed on the endowment,
which would be agreed upon by the Board
(ie. no tobacco-related investments),
however no record was found of instances
where this occurred.
industry receives from direct and indirect
university investments.
Fossil fuel corporations look to
investments, bank loans and other financing
to support the expansion of dirty energy
projects.
When universities’ and banks’
investments support dirty energy projects
like tar sands expansion or new coal-fired
power plants, it serves to lock Canada into a
polluting and destructive industry that
violates Indigenous rights, pollutes
communities downstream and contributes to
climate change.
The cozy relationship between fossil
fuel corporations and universities includes
the financial resources that the fossil fuel
23
Table 1 Overview of Dalhousie’s Pension and Endowment investment fund managers.
Dalhousie University Pension &
Endowment Fund Managers:
Greystone Managed Investments Inc.
Asset Class:
Burgundy Asset Management
CIBC Global Asset Management
Ashford Capital Management
Wedge Capital Management L.L.P.
State Street Global Asset Management
Sprucegrove Investment Management
First Eagle
State Street Global Asset Management
CIBC Global Asset Management
Addenda Capital Inc.
BlackRock Asset Management
Canso Investment Counsel
Commonfund Capital
JP Morgan
Pantheon
Crestline Investors, Inc.
Brevan Howard
BlueCrest Capital
Lazard Asset Management
JP Morgan
CBRE Clarion
GPM
Canadian Urban
Canadian Equities
Canadian Equities
US Equities
US Equities – Large Cap
US Equities – Medium Cap
Non-North American Equities
Non-North American Equities
Currency hedges
Canadian Bond – Index
Canadian Bonds – active
Canadian Bonds - active
Canadian Bonds - active
Private Equity
Private Equity
Private Equity
Absolute Return – Hedge Fund of Funds
Global Macro
Global Macro
Infrastructure securities
Global Maritime
Global Public R.E.
Canadian Real Estate
Canadian Real Estate
Canadian Equities
Methods
During the period of May 1st to May 3rd we
investigated the stock holdings of
Dalhousie’s Fund Managers using online
stock reports. Investments in tar sands
corporations were noted. A review of media
articles provided supplementary information
on the fund managers’ connections to fossil
fuel corporations. No quantitative data was
gathered pertaining specifically to
Dalhousie’s direct monetary investments in
fossil fuels because this information is not
disclosed publically.
Types of corporations included in the
analysis include corporations involved in
extraction (ie. operating in the tar sands, coal
mining, offshore drilling),
production/processing (ie. natural gas
production and oil refining) and distribution
(ie. involved in pipeline manufacturing or
construction) of fossil fuels. This method
was chosen because the exact investment
portfolio that each fund manager has for
Dalhousie is unavailable to the public.
24
Fund Manager Portfolios
Table 2 The table below shows the fossil fuel corporations that some of Dalhousie University’s
Pension and Endowment Fund Managers were invested in at the time of the research.12
Fund Manager
Greystone Managed
Investments Inc.
Fossil Fuel Companies where fund manager holds stocks
TransCanada, Suncor Energy, Canadian Natural Resource,
Baytex Energy, Bank of Nova Scotia*, Bank of Montreal*,
Potash Corp of Saskatchewan, Kinross Gold, Goldcorp,
Wedge Capital
Talisman Energy Inc, Exxon Mobil Corp, Encana, Nabors
Management
Industries Ltd, Chevron Corp, Royal Dutch Shell, Conocophilips
Ashford Capital
Trican Well Service Ltd, Royal Gold Inc, Kinder Morgan
Management
Energy Partners Lp, Clean Energy Fuels Corp, Halliburton Co,
Exxon Mobil Corp, Core Laboratories Nv, Kinder Morgan
Management Llc, Conocophillips, Anadarko Petroleum Corp,
Chevron
BlueCrest Capital
Halliburton Co, Marathon Oil Corp, Sunoco Inc, Valero Energy
Corp, Hess Corp, National Oilwell Varco Inc, Baker Hughes Inc,
Anglogold Ashanti Ltd
Lazard Asset Management
Halliburton Co, Eqt Corp, Conocophillips, Petroleo Brasileiro
Sa, Devon Energy Corp, Consol Energy Inc, James River Coal
Co, Cameron International Corp, Newmont Mining Corp,
Chevron Corp, Occidental Petroleum Corp, Noble Energy Inc,
Valero Energy Corp, Cenovus Energy Inc, Spectra Energy Corp,
Alpha Natural Resources Inc, Hess Corp, Seadrill Ltd, Royal
Dutch Shell Plc, Noble Corp, Cimarex Energy Co, Exco
Resources Inc, Marathon Oil Corp, Helmerich Payne Inc, Exxon
Mobil Corp, China Petroleum Chemical Corp, Key Energy
Services Inc, Apache Corp, Anadarko Petroleum Corp, Ecopetrol
Sa, Rowan Cos Inc, Suncor, Yamana Gold Inc, Enbridge Energy
Partners Lp, Gmx Resources Inc, Diamond Offshore Drilling
Inc, Aviva Plc, Canadian Natural Resources Ltd, Tesoro Corp,
National Oilwell Varco Inc, Oil States International Inc,
Petrochina Co Ltd, Hercules Offshore Inc, Atwood Oceanics Inc,
Kinder Morgan Energy Partners Lp
JP Morgan
Talisman Energy, Cenovus Energy, and Nexen Inc. (Geisi, 2010)
Note: data on all of the fund managers was not available and so only those where data was
available are included in the table.
12
The sources used were http://mffais.com and http://www.tickerspy.com
25
Banks Financing the Tar Sands
pension and endowment investments. Using
data released by the Rainforest Action
Network (van Gelder et al., 2008), additional
information on these institutions’
involvement with the fossil fuel industry
was obtained.
During our investigation we learned
that some of Dalhousie’s fund managers
hold shares in major banks. In addition
major banks manage some of Dalhousie’s
Table 3 The table below displays the money that the banks have loaned to corporations operating
in the tar sands between 2007 and 2009.13
Bank
Loans to tar sands companies (Million USD)
JP Morgan
$13,895
CIBC
$10,467
ING
$119
Bank of Montreal (BMO)*
$4,467
Bank of Nova Scotia *
$4,685
*BMO and Bank of Nova Scotia are not fund managers for Dalhousie but the portfolios of
Dalhousie’s fund managers include investments in BMO and Bank of Nova Scotia.
13
This information is from a study done by the Rainforest Action Network. The method used to obtain the data was
to look at all financing (underwriting, direct financing, corporate loans, etc) from the financial institutions back to
the companies with large holdings in the tar sands using Bloomberg tables. (Rainforest Action Network, n.d.)
26
Table 4 This table compares the investments banks have made in fossil fuels compared with
renewable energy14
CIBC
Bank of Montreal
(BMO)
Bank of Nova
Scotia
Total investments in C$
million
Renewable
Oil, gas &
Coal
2,181
27,430
831
30,297
% of total corporate
investments
Renewable
Oil, gas & Coal
0.98%
0.29%
12.35%
10.45%
1,505
0.66%
8.74%
19,819
14
Data from van Gelder, W. et al. (2008). See this report for the methodology, industries included and more
information on the role of banks in the expansion of the fossil fuel industry.
27
the United States and Canada. It has three tar
sands properties and is also investing in
exploration opportunities in Brazil, France,
Greenland, Oman and Qatar. In 2007, the
daily production of EnCana totalled 107,340
barrels of normal crude oil, 26,814 barrels of
synthetic crude oil and 3,566 million cubic
feet of natural gas. CIBC is one of the banks
that have underwritten the stock offerings of
EnCana (Gelder et al., 2008, p.68).
The Corporations
This section will provide more detailed
information on some of the fossil fuel
corporations listed above in which some of
Dalhousie’s fund managers hold stocks.
Canadian Natural Resources
Canadian Natural Resources is a
Canadian oil and gas production corporation
active in Canada, the United Kingdom, Côte
d’Ivoire and Angola in which some of
Dalhousie’s pension and endowment
managers hold stock.
STARS (Sustainability, Tracking,
Assessment & Rating System)
In 2007, the corporation produced
331,232 barrels of oil per day and 1,668
million cubic feet of natural gas per day. JP
Morgan Chase has been a lead manager of
the stock offering of Canadian Natural
Resources and BMO Financial was one of
the banks that underwrote this issue (Gelder,
et al., 2008, p.16).
The Sustainability Tracking,
Assessment & Rating System (STARS) is
self-reporting system for colleges and
universities to measure their sustainability
performance.
For Dalhousie, Rochelle Owen, the
Director of the Office of Sustainability
completed the assessment. Overall,
Dalhousie achieved a Silver rating (AASHE,
2011).
Baytex Energy
Baytex Energy is a Canadian
corporation that is active in the acquisition,
development and production of oil and
natural gas in the Western Sedimentary
Basin in Canada. In 2007, Baytex Energy
produced 27,575 barrels of crude oil and
Natural Gas Liquids and 51.9 million cubic
feet of gas daily. BMO Financial is one of
the banks that have underwritten the stock
offerings of Baytex Energy (Gelder et al.,
2008, p.28).
In the category for Investment, Dalhousie
scored 2.47 out of 16.75.
Points in the investment category:
Committee on Socially Responsible
Investment -- 0.00 / 2.00
Shareholder Advocacy -- 0.00 / 5.00
Positive Sustainability Investments -- 2.47 /
9.00
Student-Managed SRI Fund -- 0.00 / 0.25
Socially Responsible Investment Policy -0.00 / 0.25
Investment Disclosure -- 0.00 / 0.25
EnCana
EnCana is a Canadian energy
corporation involved in unconventional
natural gas and tar sands developments in
28
globally) by those who contribute the least
to the problem. Dalhousie’s investments
make us complicit in the devastating social
and environmental harms caused by fossil
fuel extraction and use.
Discussion
Other dirty investments
This investigation was intended to
uncover links between Dalhousie’s
investments and the fossil fuel industry. The
results are by no means exhaustive and the
intent was to uncover connections between
fossil fuel corporations and Dalhousie’s
investments based on information available
considering that this information is kept
confidential by both the university and its
fund managers. This secrecy and lack of
transparency is characteristic of universities
under their corporate management styles.
While this investigation focused on
fossil fuel corporations, the research
uncovered that many of the fund managers’
portfolios included mining companies
including GoldCorp that are known to be
complicit in Human Rights violations
around the world (Mining Watch Canada,
2009).
Dalhousie Sustainability
Dalhousie has made progress in
certain aspects on sustainability such as
ongoing campus greening initiatives
undertaken by the Office of Sustainability
and Dalhousie Student Union Sustainability
Office, as well as the sustainability
education opportunities in the College of
Sustainability; however the fossil fuel
industry’s free rein on campus remains the
elephant in the room that keeps Dalhousie
complicit in large-scale social and
environmental destruction.
As the report by Rainforest Action
Network stated, “stopping climate change
requires ending our addiction to fossil fuels
by shifting capital to new, renewable energy
infrastructure and energy efficiency
measures, which can meet energy needs and
create jobs while decarbonizing the
economy.”
Canadian banks and Dalhousie’s fund
managers that were investigated have lagged
behind in investing in energy efficiency and
renewable energy. Fossil fuels still account
for a far larger amount of bank financing.
Government’s Dirt Energy Priorities
The Canadian government favours
dirty energy over education. The
government subsidizes the fossil fuel
industry by $1.4 billion dollars a year,
despite the fact that the fossil fuel industry is
already rich, and students and universities
are not. Fossil fuel companies operating in
the tar sands have combined revenues of 1.2
trillion dollars, 1.1 trillion of which goes to
foreign owned corporations. The money that
The loans and investments in fossil
fuels contribute to the expansion of
destructive projects. Financing the
expansion of dirty energy is locking us into
infrastructure that commits our economy to
fossil fuels far into the future. The impacts
of climate change and toxic development are
felt the most (locally in Nova Scotia, and
29
Canada spends subsidizing this multi-trillion
dollar industry could pay off 2/3 of the
student loans taken out this year (Climate
Action Network Canada, n.d.). It could also
go directly to universities so that they are
not dependent on corporate funding, or it
could be invested in the emerging renewable
energy sector. The opportunities in the green
market are rapidly growing, but Canada is
not investing in this sector, which means
graduates are losing out on potential job
opportunities as manufacturing contracts go
elsewhere. Is the government acting with its
head in the sand, the Canadian government
continues to invest in the oil and gas
industry, a sector of employment that will be
phased out in 10-20 years? Do they
personal interests and investments in this
industry?
The government’s funding of
destructive polluters at the expense of
people and and the planet, and the
consequences for education could be
explored at length, however for the purpose
of this report, we simply wish to highlight
the fact that the connection between
polluting corporations and universities is
caused in part by the fact that the
government has neglected education in
favour of these destructive industries.
30
SECTION 4: CONCLUSIONS & RECCOMENDATIONS
On-going cuts in public funding have
forced Canadian universities into a
precarious financial situation. This has led to
the pervasive corporatization of most aspects
of the university. For one, university
management today eerily resembles that of a
corporation. Secondly, corporate funding
and sponsorship have become an important
source of funding for university programs
and facilities. Under the guise of austerity or
innovation, universities are adopting a
corporate structure to attract external
funding and to commercialize knowledge for
profit. Universities now resemble businesses
and not institutions of higher education.
corporate interests who have an increasingly
powerful voice.
As part of the overall corporatization
of universities, a cozy relationship between
the fossil fuel industry and universities has
developed. Fossil fuel corporations are
funding research, programs, equipment and
infrastructure at universities. At the same
time, university pension and endowment
funds are directly and indirectly invested in
fossil fuel corporations.
The ongoing expansion of the tar
sands, the world’s dirtiest energy project is
enabled by funding from banks and
investors, and universities play a part in
supporting this system. We need a rapid and
fair transition to a green economy but
universities, who could potentially play an
incredibly influential and important role in
this transition, remain closely tied to the
fossil fuel industry.
Control over the university is in the
hands of business-people and most specific
information pertaining to university
operations is regarded as confidential, even
though those decisions affect the whole
university community. Meanwhile students
lack representation and decision-making
power in this process.
These trends are seen at Dalhousie,
where fundraising has become critical to the
university, and the importance granted to
financial matters has also led to the
corporatization of governance. We see
polluting corporations fund buildings,
programs, equipment and research. Despite
Dalhousie’s highly marketed and publicised
commitment to sustainability these corporate
contributions are highly sought and praised.
Given the financial reliance on these
donations, perhaps it is not surprizing that
Dalhousie has remained silent on harms
associated with the industry-academic
relationship.
The interests of corporate sponsors
affect our education overtly and covertly.
Since corporate funding has become the
lifeline, Canadian universities have grown
accountable to their corporate sponsors,
which can come at the expense of
transparency and accountability to the
public. Corporate funding for research has
incentivised marketable, industry-relevant
research. The topics available to study, the
thoughts we are led to think and the books
we are offered to read, are all influenced by
a set of external forces, which include
31
In that regard, it is important to
remember that another piece of the puzzle
that explains these relationships is the
government’s ongoing neglect of education
in favour of dirty energy., Addressing the
federal government self-serving and
destructive commitment in fossil fuels is a
critical part of reclaiming our campuses.
made and how they influence our campus
and community. Students must take action
to demand fair representation in decisionmaking as well as transparency regarding
financial decisions and other decisions that
impact students.
As students, we must become more engaged
not only on a student level, but on a higher
administrative level to be heard. We must
reclaim the democratic means of
participating in our own university
community, and fight to protect our right to
education.
Although not extensively explored in
our report it is important to note that cuts to
public funding to universities not only led to
an increase in corporate funding but to
increases in tuition fees and the privatization
of student aid. This is another sign of
capitalist interests in universities, as rising
tuition fees and increasing student debt
reproduce social inequalities and make it so
that only the wealthy can access education.
Education is a right, not a commodity nor a
privilege. Under the pretext of austerity
measures the government is disregarding the
right of all people to education.
Appendix B contains some information and
resources that could be useful in this
struggle.
2. Fight austerity in all its forms.
The austerity agenda that is forcing
universities to form relationships with fossil
fuel corporations is also causing tuition and
student-debt to rise, leading to the growing
inequalities in our society and causing
destruction of the environment.
We have made the following
recommendations to Dalhousie and to
students and community members.
We need to reject capitalist ideology
that tells us there isn’t enough money to
fund public services, by fighting for social,
economic and environmental justice on
campus and in our communities. We should
stop allowing ourselves to be cast as
voiceless customers of our schools and
governments, and fight for democratic
involvement in our institutions.
For students who are not only
facing rising tuition fees but an
increasing corporate campus:
1. Hold Dalhousie accountable and
demand transparency.
Students currently lack official
channels of representation and the Dalhousie
administration is shrouded in secrecy. We
deserve to know what decisions are being
3. Start a Fossil Fuel divestment
campaign.
32
Our university’s money should not
be supporting the social and environmental
destruction caused by the fossil fuel
industry. Appendix C contains resources to
check out in order to start a campaign to get
Dalhousie to stop investing in the fossil fuel
industry.
Dalhousie should make its
investments public so that students can
know where the university’s money is going.
Divestment:
Divestment is withdrawing
financial support from a
corporation that is abusing the
environment, the community,
or larger society.
(Adapted from: wearepowershift.org)
For Dalhousie University
1.
Give students at least 32% of
the seats on the Board of
Governors.
Student tuition accounts for 32% of
the universities revenue and as such they
should hold at least 32% of the decisionmaking power. Students are the core of
intellectual labour at the university, and
deserve to be respected as the most
important members of the university
community.
2. End the secrecy around
investment.
33
To fulfill the commitments that
Dalhousie has already made to sustainability
Dalhousie must divest from fossil fuel
corporations. This will involve working with
the Socially Responsible Investment
Committee and Dalhousie’s fund managers
to develop investment portfolios that are in
line with Dalhousie’s commitments to
sustainability.
3. Form a multi-stakeholder Socially
Responsible Investment
Committee that reports to the
Board of Governors
A committee should be formed that
includes students and community members
that reports to the Board of Governors. This
committee should examine all of
Dalhousie’s current investments and work
with Dalhousie’s fund managers to develop
socially responsible investment portfolios
that are fossil-fuel free.
6. Explore investment opportunities
in community-driven renewable
energy.
Dalhousie should explore socially
responsible investment opportunities, in
particular those that support local,
community-driven initiatives in Nova
Scotia. One option is for Dalhousie to invest
in Community Economic Investment Funds
(CEDIFs) that are developing renewable
energy in Nova Scotia.
4. Make shareholder statements
public and engage in Shareholder
activism
Until Dalhousie fully divests from
fossil fuel corporations, Dalhousie can use
its power as a shareholder in these polluting
corporations to address the social and
environmental consequences of climate
change and fossil fuel usage by voting and
submitting statements to shareholder
meetings.
CEDIFs are a pool of capital that is
raised through the sale of shares, and is
managed to operate or invest in local
initiatives. In Nova Scotia there are many
CEDIFs that are invested in renewable
energy projects, and represent an
opportunity for Dalhousie to invest in the
emerging green energy economy.
5. Divest from dirty fossil fuel
companies.
34
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40
Appendix A – Decision-Makers at Dalhousie
Note: This only covers some of the decision-makers relevant to this report.
Bill Black, Chair of Dalhousie’s Academic Affairs & Research Committee
Role: “Foster Academic Innovation, Supporting Research Excellence”
(Dalhousie, Academic Affairs & Research)
Corporate linkages: Board of Directors of Bank of Canada, Shaw Group
Limited, Standard Life Assurance Company of Canada (CAUT, 2012)
Stan Spavold, Chair of Dalhousie’s Investment Committee
Role: Ensuring financial stability. To oversee and manage endowment funds, write appropriate
investment policies and monitor the activity of Dalhousie Investments (Dalhousie, Investment
Committee).
Current Corporate linkages: Clearwater Seafoods Income Fund as Corporate
Secretary  President Tom Traves also currently serves as Director of
Clearwater Seafoods Income Fund
Other companies: Clearwater Seafoods (various positions), Columbus
Communications Incorporated, FP Resources Limited, High Liner Foods Incorporated, Lion
Foods Holding limited, Ocean Nutrition Canada Limited (CAUT, 2012).
Tom Traves, President of Dalhousie University
Role: Management of the University and its affairs. He is accountable to the
Board of Governors and Senate. Since becoming President in 1995, student
enrolment and external funding have increased greatly. Mr. Traves boasts about
making Dalhousie one of the most profitable universities in Atlantic Canada and
the top of innovation and research. He is currently 1 of 2 members of the
Executive Team for Dalhousie’s Bold Ambitions Campaign. The other Executive member is
Floyd Dykeman, VP External (Dalhousie, President).
Salary (CBC, 2012): $ 393,264 (2011/12)
41
Current Corporate Linkages: Chairman and Trustee of Clearwater Seafoods Income Fund
(Spavold is also an employee), Board of Directors of InnovaCorp (CAUT, 2012)
*It is worthy to note that previously he was a member of the board of Maritime Life Assurance
Company, of which Bill Black was CEO. Bill Black is the standing chair of Academic & Affairs
committee at Dalhousie. These close friendships continue to become closer as the Board
resembles a professionals, “exclusive invite-only” seniors club.
Mr. Ken Burt, Vice President Finance and Administration
Role: Ultimate financial planner and manager of endowment and investment funds. He holds
professional degrees in economics and business administration and is currently
a member of the Canadian Association of University Business Officers. He sits
as Ex Officio of the Investment Committee, which monitors investment
performance. In 2011, the University-sponsored Pension Plan had an
investment return of 11.4%, and according to the 2011 Annual Financial
Report, Dalhousie invested in “high-quality companies” (Dalhousie Annual
Financial Report, 2011). Exactly which companies, we cannot know.
Investment relationships between the university and the investment company are confidential,
and the specific blend of investments in our portfolio is the intellectual property of the
investment company. The fact that there is no accountability to the public about Dalhousie’s
financial investments is exceedingly problematic (Dalhousie, Vice-President Finance and
Administration)
Floyd Dykeman, Vice President External
Role: This position is occupied by someone who knows the business of universities and how to
foster relationships between external institutions and the university. On Dalhousie’s website, this
position does not have a detailed description but instead, a biography is given
about Mr. Dykeman’s past fundraising experience and his fundraising success at
Dalhousie. Vice President of external is also in charge of communications and
marketing. This means communicating particular messages about the university
in order to receive more external funding. A position that is inherently
managerial, Mr. Dykeman is seen as the perfect candidate as he understands the
“academic model [and] the business of universities” (Dalhousie, Senior Administration)
Currently, Mr. Dykeman’s main project is the Bold Ambitions Campaign, which he leads with
Dalhousie University President Tom Traves. This campaign has seen enormous success, with
generous gifts being given by alumni and large corporations such as BMO and PotashCorp.
42
Appendix B - Resources for Future Work
So you think that the corporatization of campus is uncool and want to do something about it?
Here are some resources and information for you. Some of these are tidbits that didn’t quite fit
into the report but could be useful and others are resources or information to help you fight the
corporatization of campus.
Board Meetings
These meetings are open to the public and records (minutes) about the meeting are
written and submitted to the university, to be kept on file. A member of the public or student
attending the meeting is not allowed to speak up or ask questions unless the board unanimously
agrees to allow them to speak. Also, students and the public must leave for in-camera portions of
the meeting. In-camera sessions occur when the Board discusses confidential matters, including
anything about a Board Member or complex financial matters. In-camera sessions are also not
recorded in the meeting minutes and are therefore, not made available to the public.
Dalhousie’s Board of Governors delegates responsibility to various committees. It is the
Board committee meetings where many particularly important decisions happen, yet all those
meetings are held in-camera and therefore, not open to the public and with no publicallyavailable records.
Exposing Corporate Ties
Because there is no single publically-available database where Dalhousie records all of their
corporate ties finding information requires some investigation.
Some good places to look are:




Dalhousie’s Industry Liason and Innovation office, responsible for linking industry with
campus-based research, and for marketing and patenting research
(http://innovation.dal.ca/companies/aboutili.php)
Dalhousie’s Media releases and promotional propoganda (dig through
http://media.dal.ca/)
The Canadian Association of University Teachers has an online tool for finding
connections between university Board Members and corporations:
http://www.caut.ca/corporatelinkages.asp?cid=768
Corporate annual reports for mention of Dalhousie
An important channel for accessing protected information is through the Freedom of Information
and Protection of Privacy (FOIPOP) Act. Nova Scotia's Freedom of Information and Protection
43
of Privacy (FOIPOP) Act covers universities and requests about Dalhousie can be filed directly
to Dalhousie’s FOIPOP Coordinator. More information and the application form can be found at:
http://foipop.dal.ca/index.php
We have filed an Access to Information Request but have not heard back at the time of writing
this.
After digging up the information, make connections and explore the companies and how they are
exerting their influence on campus.
For information on specific corporations check out: http://www.corporatewatch.org.uk/ or
http://www.corp-research.org/
44
Appendix C - Resources on Divestment
This investigation is just the beginning for students who think that the relationship between
Dalhousie and the fossil fuel industry is too close for comfort.
We want to see Dalhousie move their pension and endowment investment out of polluting fossil
fuel corporations and reinvest the funds responsibly. Students and community members can start
a campaign to put pressure on Dalhousie to live up to their commitments to sustainability and at
the same time put pressure on the fossil fuel industry to stop its social and environmental
destruction by diminishing the industry’s influence and financial power.
Part of this process is continuing to do research. The researchers were limited by fact that
Dalhousie keeps a lot of information protected or confidential, and the time to retrieve this
information was not available.
No quantitative data was gathered pertaining specifically to Dalhousie’s direct monetary
investments in fossil fuel corporations. We recommend that this information be requested
directly from the Board of Governors and that if it is not given that an Access to Information
Request be submitted.
Other steps to take include making clear goals for the campaign, spreading the word, contacting
the decision-makers at Dalhousie and using actions and advocacy tactics to reach the goals.
Get in touch with NSPIRG to find out what resources and support they can offer. They are
located in room 314 of the Student Union Building (you can also check-out nspirg.org).
Here are some other resources that can help your campaign:
For more information on the destruction caused by the fossil fuel industry check out
http://oilsandstruth.org/
The Responsible Endowment Coalition has lots of information and resources for getting
universities to invest responsibly. Check them out at http://www.endowmentethics.org/about-us
For information from a U.S. based campus-wide coal divestment campaign check out
http://www.wearepowershift.org/campaigns/divestcoal
The Canadian Youth Climate Coalition is a youth-driven organization starting up a clean energy
campus campaign in Canada. Check it out at http://www.ourclimate.ca/wordpress/projectscampaigns/clean-energy-campuses/
The Coalition of Universities for Responsible Investing has some additional info at
http://www.curi.ca/
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