Principal and Vice-Chancellor Patrick Deane has established a Principal’s Review Committee for Responsible Investing in accordance with the university’s Responsible Investing Policy to consider a special request submitted by a campus group, Ҵý Backing Action on the Climate Crisis.
Terms of Reference
On March 3, 2025, the university received a petition from the Queen’s Backing Action on the Climate Crisis (QBACC). QBACC requested that the document be considered as a formal submission for a special request for divestment per Procedure 2 – Special Requests of Queen’s Responsible Investing Policy. They are advocating for “the complete divestment of Queen’s University’s $1.492 billion pooled endowment and investment fund from fossil fuels.”
The petition was reviewed by the University Secretariat. Once the University Secretariat verified that the signatures met the requirements set out in the Procedure, Queen’s Principal, Dr. Patrick Deane, established a Principal’s Review Committee for Responsible Investing.
Review Committee Mandate
The Committee will review the submission and advise the Principal as to what further action, if any, is warranted. The review will be conducted in accordance with the Responsible Investing Policy, and will be guided by the Fiduciary Responsibilities of the Board of Trustees (see section III of the Board’s Code of Conduct); the consideration of Environmental, Social, and Governance (ESG) issues, and all other factors defined in that Policy.
The Review Committee shall consider, but will not be limited to, the following factors in regard to the request:
- Consistency of the request with existing university policies or objectives;
- Feasibility of the request (e.g. the amount of resources involved to address the issues raised in the requests);
- Materiality of the request to the overall investment portfolios;
- Whether the request is a duplication of past requests and/or whether there have been material changes that would warrant reconsidering past requests; and
- Whether the issue is better addressed using other levers available to the university.
The Committee is advisory to the Principal, and will prepare and submit to the Principal a response detailing its recommendation(s), which may include, but are not limited to:
- Suggestions for ensuring the relevant Environmental, Social, and Governance (ESG) Factors are considered in the investment process, suggestions for alternative non-investment related approaches;
- Arranging for a delegation representing the members of the university community that submitted the request to present to the Board and/or the appropriate Board committee(s) for further consideration;
- Coordinating an in depth consultation process; or
- No further action.
Upon receiving the Principal’s Review Committee for Responsible Investing’s recommendation(s), the Principal will provide the recommendation(s) to the appropriate Board committee, normally the Investment Committee. The Board committee(s) will make recommendations, if any, to the Board of Trustees. Decisions of the Principal’s Review Committee, along with the rationale for decisions, will be publicly reported on the University website.
Membership
- Dean McCann - Committee Chair, Governance & Nominating Committee
- Amanda Gray - Staff Trustee
- EJ Kelvin - Undergraduate Trustee
- Rebecca Manley - Faculty Trustee
- Todd Mattina - Chair, Investment Committee
Secretary: Anne Martineau, University Secretariat
Non-voting Advisors:
- Michael Fraser, Vice-Principal (University Relations)
- Donna Janiec, Vice-Principal (Finance and administration
- Heather Woermke, Associate Vice-Principal (Finance and Administration)
- Brian O’Neill, Director, Investment Services
- Rebecca Coupland, University Secretary
Timeline
The Committee shall begin its work in June of 2025 and will endeavour to complete its work expeditiously. Upon submission of its recommendations to the Principal the Committee shall be dissolved, though may be called together informally thereafter to either clarify or expand on its recommendations.
Meetings
The Committee shall meet at the call of the Chair and may meet in person, by video conference, or other electronic or digital means as determined by the Chair.
Confidentiality
All members of the Committee will be required to sign a Confidentiality Undertaking and Queen’s University Board of Trustees Code of Conduct that outlines their responsibilities as Committee members and Advisors and expectations related to confidentiality, collegiality, and conflicts of interest.
Committee Members
- Dean McCann – Committee Chair
- Amanda Gray (Staff-Elected Trustee)
- EJ Kelvin (Student-Elected Trustee)
- Rebecca Manley (Faculty-Elected Trustee)
- Todd Mattina (Chair, Investment Committee, Board of Trustees)
Non-Voting Advisors:
- Michael Fraser (Vice-Principal, University Relations)
- Donna Janiec (Vice-Principal, Finance and Administration)
- Brian O’Neill (Director, Investments)
- Heather Woermke (Associate Vice-Principal, Finance and Administration)
- Rebecca Coupland (University Secretary)