Important messages for the University community

The challenging times being experienced locally and globally may have profound impacts on members of our community. The Institutional Equity Office, in partnership with community partners across the tri-campus, offers programs, supports and resources to support U of T community members navigating work and learning environments at times of global strife and crisis. You can find these resources at EDI in a Global Context. 

U of T supports peaceful protests: Peaceful protests are a form of free expression and have been a force for progressive change at the University of Toronto (U of T) and elsewhere for generations. U of T is guided by a commitment to the right of its community members to express and discuss ideas freely, including the right to criticize the University.

But there are limits: Various laws and long-standing U of T policies and guidelines place limitations on protest and other forms of expression (such as postering, signage, letter-writing, etc.). Drawing on the Ontario Superior Court of Justice court order of July 2, 2024, as well as U of T policies, including the Code of Student Conduct, the following guidance will assist community members who wish to participate in protests or other similar events and activities on property (including offices, classrooms, labs, clinics, etc.) that is owned, leased, or occupied by U of T and its affiliates to do so peacefully and without consequence.

Place & Time of Protest – U of T will allow peaceful protests with certain limitations on the place and time where and when they occur:

• Unauthorized Presence: Occupying or entering U of T premises without authorization is not permitted. For more information on booking space at U of T, please see the OVPS site.
• Time of Protests: No protests or gatherings are permitted from 11 p.m. to 7 a.m. Occupying space or premises overnight for the purposes of a protest is prohibited.
• Structures: Constructing tents, encampments, fences, barriers, or other structures is not permitted.

Manner of Protest – U of T allows peaceful protest that does not interrupt University activities – including classes, meetings, or other University business.

More specifically, the following are not permitted:

• Violence: U of T will not tolerate any form of violence on its property, including any that might occur during a protest activity.
• Excessive Noise: Activities resulting in noise that prevents the speech of invited guests, University members, and others; that obstructs U of T activities from continuing; or that negatively impacts those living in U of T residences are not permitted. This might result from the use of amplifiers, megaphones, microphones, etc. so care should be taken when using such technology.
• Blocking Access: Blocking doorways to buildings or roadways into campus, or otherwise interfering with access to U of T is not allowed.
• Intimidation or Harassment: Physical and verbal intimidation or harassment; or impeding others’ basic rights, including free expression, freedom to assemble, and human rights are prohibited. This includes targeting individuals at their cars, offices, homes, at meetings of University governance, or elsewhere.
• Certain Posters and Signs: Affixing signs, posters, or flyers (including the use of chalk, marker, paint, and projections) outside designated areas is prohibited as a form of vandalism.
• Health and Safety Risks: Actions that threaten the physical health and safety of others, or that present a threat to security are prohibited.
• Discrimination: Using language in chants or recordings, on signs, or otherwise that demeans others based on their age, ancestry or race, ethnicity, place of origin, creed or faith, disability, gender identity or expression, sex, sexual orientation, or other categories in the Ontario Human Rights Code is not permitted.
• Exclusivity: Restricting entry to event space based on political viewpoint or other criteria is not permitted. (Only events that are booked and advertised or promoted as private gatherings can be restricted to invitees only.)

There are consequences for violating University policies, including the guidance on peaceful protests above: Engaging in these prohibited activities can result in consequences under law and U of T policies, including arrest, suspension, trespass from property, and expulsion. Campus Safety holds responsibility to manage protests in order to ensure that they occur peacefully and within the limits noted above. Any resistance (physical or verbal) may result in Campus Safety action or requesting the assistance of municipal police.

The original post can be found at the Office of the Vice-Provost, Students.

Q: How is tuition money invested and spent?

A: Tuition fees are never invested in company shares. Tuition fees not immediately required to support core academic and administrative operations – including the cost of offering classes, the spaces they are taught in, equipment and salaries – are held in cash and other fixed-income financial products until they are needed.

Q: What is the endowment and how is it used?

A: The endowment consists primarily of gifts to the university that are invested for the long term. It generates income that provides permanent and stable support for key academic priorities such as scholarships and financial aid for students, chairs to attract and retain outstanding professors, and innovative programming. In April, 2024, the endowment paid out $122 million to support such initiatives, which are critical to our pursuit of excellence and global impact. The total value of the endowment at the end of the most recent financial year was $3.6 billion.

Q: What is the university’s endowment invested in, and what principles govern these investments?

A: The University of Toronto Asset Management Corporation (UTAM) manages the investment of the university’s endowment with the responsibility of delivering investment returns that support the university’s teaching and research excellence. UTAM integrates environmental, social and governance factors throughout its investment analysis and decision-making processes and is a signatory, on behalf of the endowment, to the Principles for Responsible Investment, an international initiative that represents the gold standard for responsible investing and which publishes annual scorecards on participating organizations. UTAM’s latest score card shows it compared very favourably to its peers on key responsible investing measures.

The university’s endowment is invested through third-party investment firms and their pooled investment products. These are similar to the investment products many Canadians choose for their RRSPs, such as mutual funds and exchange-traded funds, in which multiple investors join together and invest funds in a basket of companies.

The underlying securities held in these pooled funds can change frequently, and are typically not publicly disclosed by the third-party investment firms to protect their competitive advantage. Even when the holdings are disclosed to UTAM, it is on a confidential basis, restricting UTAM from further disclosing many of the details due to terms and conditions specified in investment agreements. Our third-party investment managers need this confidentiality to protect their competitive advantage, which stems directly from the way they compose their funds. This level of confidentiality allows UTAM to access best-in-class investment firms and funds on behalf of the university. However, we know that transparency is deeply important to our community. With that in mind, UTAM is currently engaging with investment managers to explore ways to achieve greater transparency in how our holdings are reported, without compromising our legal obligations or their competitive advantage.

Q. What is the Expendable Funds Investment Pool (EFIP) and how is it invested?

A: The EFIP contains funds the university can spend, which are pooled and invested until they are needed. It includes the university’s cash for operations, capital projects, ancillary operations, payouts from endowments, expendable donations and research grants. The EFIP is invested in financial vehicles such as term deposits, fixed-income derivatives, and other fixed income securities. It is not invested in company shares. The EFIP is different from the endowment, where only the income generated from long-term investments – not the principal – can be spent.

Q: What environmental, social and governance (ESG) factors does UTAM consider as part of its responsible investing policy?

A: UTAM incorporates environmental, social and governance (ESG) factors into investment decisions and practises active ownership. UTAM defines ESG factors as follows:

• Environmental: Factors relating to a company’s interactions with the physical environment. These include but are not limited to climate change; greenhouse gas emissions; biodiversity loss; deforestation; air, water or resource depletion or pollution; waste management; change in land use; and ocean acidification.
   
• Social: Factors relating to business practices that impact the rights, well-being and interests of people and communities. These include but are not limited to human rights; labour standards in the supply chain; child, slave, and bond labour; workplace health and safety; freedom of association and freedom of expression; human capital management and employee relations; diversity; relations with local communities (including Indigenous communities); activities in conflict zones; health and access to medicine; consumer protection; and controversial weapons.
   
• Governance: Factors relating to the governance of a company. These include but are not limited to board structure, composition, size, diversity, skills, and independence; executive pay; shareholder rights; stakeholder interactions; transparency; business ethics; bribery and corruption; internal controls; and conflicts of interest.

Learn more about UTAM’s Responsible Investment Policy.

Q: What would cause the university to divest?

A: The university has an established process to consider divestment requests that is open to all members of the U of T community, including students. Initiating the process requires only a well-argued brief making the case for divestment and signatures of support from 300 members of the university community, in accordance with the instructions set out in the policy.