Stewardship in Practice

The university believes stewardship improves the management of ESG risks and opportunities, which will be important to deliver superior long-term risk-adjusted returns. The university will exercise its rights as an investor by taking into account ESG considerations and use the Stewardship tools listed below in its overall management of ESG risks and opportunities.

Advocacy

In April 2025, the University of Victoria joined a group of more than 20 asset owners representing nearly $1.8 trillion USD in assets under management in an engagement with BlackRock Investment stewardship on its approach to labour rights stewardship. During the discussion, BlackRock outlined recent enhancements to its stewardship program, including the creation of a new active stewardship team, and updated decarbonization guidance, while noting that its approach to labour rights and human capital issues remains unchanged. Asset owners encouraged greater transparency on engagement outcomes and escalation strategies and discussed BlackRock’s use of external stakeholders, including trade unions, to inform its assessment of labour rights risks. The dia­logue also explored the impact of recent regulatory developments on steward­ship activities.

Escalation

In December 2025, the University of Victoria joined a group of asset owners in a meeting with RBC Global Asset Management (RBC GAM) to escalate common issues regarding the firm’s stewardship practices and responsible investment priorities. RBC GAM emphasized its continued commitment to responsible investment, noting recent additions to its stewardship team despite broader in­dustry reductions. Asset owners engaged the firm on its stance related to racial equity, Indigenous rights, and climate risk, encouraging greater transparency around escalation practices and the integration of sustainability considerations into investment decision-making. The discussion also explored the implications of regulatory developments, RBC GAM’s approach to climate risk analysis, and its 2026 stewardship priorities, including human rights engagement, climate stew­ardship, and enhanced use of stewardship and proxy voting data. The meeting concluded with a commitment to continue constructive dialogue on steward­ship policies and practices.

Collective Engagement

We are a member of the University Network for Investor Engagement (UNIE), through the Shareholder Association for Research and Education (SHARE). Alongside 16 other post-secondary institutions, we work to engage companies on climate-related discourse, leading to tangible changes and progress in corporate sustainability practices.

Engagement—the act of communicating with a company on critical issues, as an investment shareholder and overall stakeholder—enables investors to use their voices to support better corporate sustainability policies and practices. Through collaboration with both the UNIE network and the larger SHARE network, we have a voice with scale, leading engagements that are supported by rigorous research and deep expertise from SHARE’s staff and strategic partners.

UNIE focuses on engaging on the following issues:

  • Focus Area 1: Financing Climate Action and Energy Transition
  • Focus Area 2: A Sectoral Approach to Oil & Gas
  • Focus Area 3: Decarbonizing Utilities
  • Focus Area 4: Mining for Just Transition
  • Focus Area 5: Science-Based Targets for Retail
  • Focus Area 6: Fueling Innovation for Transport

These examples reflect the university’s commitment to active stewardship and prudent risk management.