| VanCity Mutual Divests | 31 July 15 |
"Our members have been asking for something like this for a while now," Vancity chief operating officer Rick Sielski said in an interview. "It's a convergence around what makes sense from a risk return investment for our members while satisfying their need to really put their money where their heart and values are." Vancity is dumping Enbridge holdings because they fall beneath its standard of a socially responsible investment, announced the credit union. According to Vancity, the mutual funds are supposed to prioritize investment in Canadian companies that are profitable, have a record of sustainable practices and are socially responsible. Vancity made its decision to divest based on a report by the U.S. National Transportation Safety Board on Enbridge's 2010 oil spill. At least 843,000 gallons of crude spilled into Michigan's Talmadge Creek, a tributary of the Kalamazoo River.
View May 1, 2015 The Vancouver Sun article |
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