Environmental activists are urging the University of Victoria to stop investing in what they’re calling “the dirtiest industrial project in the world.”

According to documents obtained by the Wilderness Committee, UVic’s pension plan has more than $4 million invested in Enbridge Inc., the company behind the controversial Northern Gateway Pipeline. The plan also has $50 million invested in tar sands companies and other oil and gas producers.

In a press release, Wilderness Committee spokesperson Torrance Coste concedes “the university does a good job fostering ecological literacy,” but said “the fact that they support and profit from the production and transport of tar sands bitumen leaves a bad taste in my mouth.”

UVic staff member and investment committee chair Kristi Simpson said there is no specific policy in place concerning environmental investing. The plan’s managers consider things like environmental risks and corporate governance when investing, but are primarily concerned with fiduciary responsibility.

“The mandate of the pension board of trustees is to act in plan members’ financial best interest,” she said.

Simpson also stressed that the pension plan is entirely distinct from the university.

“The funds are not university funds,” she said. “And more than 50 per cent of the assets in the plan belong to people that are no longer employees of the university.”

Should plan members have concerns about where their money is being invested, Simpson said they could write to the board or attend regular meetings. To date, no one has complained about the contents of the plan’s portfolio.

“Plan members’ views are very diverse. We may have some members who feel we should stop investing in oil companies, and we may have some that feel strongly that such a move would not be in their best interests,” Simpson said.

For more information UVic’s pension plan, or to view its portfolio, visit the university’s website.