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Following a comprehensive consultation process, the Principal’s Review Committee for Responsible Investing has recommended against divesting Queen’s pooled endowment and investment funds from companies conducting business with or in the State of Israel, as well as against implementing a negative screening process for future investments. Its report and recommendations have been carefully evaluated and approved by the university’s Board of Trustees at a recent meeting, in accordance with its fiduciary duties.

"The review committee arrived at its recommendations following a thorough analysis and broad consultation with individuals and groups from across the Queen’s community," says Patrick Deane, Principal and Vice-Chancellor. “The decision by the Board of Trustees to accept the recommendations of the committee aligns with the board’s duty to prudently manage the university’s investments and ensure the strength and sustainability of our academic mission into the future.”

The committee’s report found that divestment and negative screening would lead to higher costs and a significant increase in portfolio risk, which would be inconsistent with the board’s legal fiduciary responsibilities. As highlighted in the report, these responsibilities require fiduciaries—Queen’s trustees—to act honestly, in good faith, and in the best financial interests of the university. A sustained decrease in investment returns would have a significant negative impact on student experience and academic programming, and on Queen’s future overall.  

The report also highlights several other key factors that were carefully considered and helped shape its recommendations, including the principles of institutional neutrality, which aim to foster an environment of academic freedom and support free and open inquiry. The report also noted the absence of a broad consensus both within the campus community and across Canadian society on this issue.

The committee began its work in June 2024, following a special request by a campus group, Queen’s University Apartheid Divest, submitted through the university’s Responsible Investing Policy. A period of public consultation was launched on August 6, during which the review committee sought diverse input from a wide range of students, faculty, staff, alumni, benefactors, retirees, parents, and the Kingston community. The committee received written submissions representing the views of over 560 people and observed 44 in-person presentations, all of which were considered in crafting its final report and recommendations.

“The questions the review committee was tasked with considering involve deeply held convictions for many in our community,” says Principal Deane. “As we share the board’s decision, we encourage everyone to reflect on the rationale for these findings and to recognize the integrity of the process through which these conclusions were reached. I want to thank everyone who engaged in this process, and who contributed to the committee’s work.”

In addition to its main conclusions, the report includes a number of recommendations, including one concerning Procedure 2 (Special Requests) of the university’s Responsible Investing Policy. Specifically, the committee recommends that future special requests should be required to articulate how they are consistent with fiduciary responsibility and institutional neutrality. Procedure 2 will be suspended while it is under review and, should an issue arise that members of the Queen’s community feel strongly about, they are encouraged to contact the Secretariat’s Office.

Read the final report and executive summary on the Principal’s Review Committee for Responsible Investing webpage.