University of British Columbia's Divestments to Fight Climate Change

Man holding a save our planet sign
Photo by Markus Spiske temporausch.com from Pexels

Derek Townsend is a longtime rugby player and an entrepreneur. A principal and co-owner of Citifund Capital Corporation, Derek Townsend graduated from the University of British Columbia.

The University of British Columbia has officially declared a climate emergency and has committed to forming a community engagement process to collaborate on ways to reduce emissions. The university has also committed to two major initiatives to increase its divestment in fossil fuels.

First, the university’s Board of Governors agreed to divest the main endowment fund ($1.71B) of fossil fuels and has asked administrators to assess ways to carry out this divestment. Second, the Board of Governors has approved legal and financial reviews related to a transfer of $380 million from the endowment pool to the sustainable future pool, which the university created in 2017 to research and test investment strategies that reduce carbon emissions.

The Board of Governors has asked that these measures be carried out as soon as possible to reduce the impact of fossil fuels on the environment.

Canada's Performance in the Rugby World Cup

Stadium Photo by Thomas Serer on Unsplash

A Vancouver, Canada-based mortgage broker with 7 years of experience, Derek Townsend serves as principal of Citifund Capital Corporation, where he brokers commercial financing for construction, term, and loan loans. Outside of his professional pursuits, Derek Townsend is a former member of the Canadian 7's men's rugby team who enjoys playing and watching the sport.

Canada has participated in every Rugby World Cup event since 1987. Despite being the second-strongest national team in North America, Canada hasn't fared too well in the international competition. It dropped its first two games in the 2019 Rugby World Cup to Italy and New Zealand on September 26 and October 2, respectively, and finished 17th in the 20-team tournament in 2015, with only two points, and a score differential of -73.

Canada fared slightly better in 2011, when it finished 12th with six points and a score differential of -86. That year, it ranked ahead of countries like Japan, the United States, and Russia. Canada finished 16th in the 2007 Rugby World Cup. Its best result came in 1991, when it reached the quarterfinals of the 16-team tournament before losing a 29-13 decision against New Zealand, which later defeated Scotland in the third-place game. Its best individual game came in 1999, when it defeated Namibia 72-11.