University of British Columbia declares climate emergency

The University of British Columbia (UBC) has joined organizations around the world in declaring a climate emergency. 

UBC's president Santa Ono, made the declaration on Thursday following ongoing pressure from the campus community. 

"At this pivotal moment, the decisions and actions we take today will reverberate beyond our own borders and lifetimes," said Ono in a statement. 

In September, more than 5,000 people from the community campus took part in a global climate strike. A week after the strike, more than 1,600 people signed an open letter calling on the university to declare a climate emergency. 

The declaration means the university will commit to reviewing its emissions reductions plan, transitioning into a sustainable economy, and helping in the decline of fossil fuel use, Ono said in a statement. 

Along with the declaration, the board of governors has voted to work toward divesting the university's $1.7 billion endowment. The review would look into moving investments away from fossil fuels.

Meanwhile, the board has officially approved transferring $380 million from the endowment into a fossil-free- and low-carbon fund established to research investment strategies to lower carbon emissions. 

"We're hopeful what we can do is demonstrate that we can be good for both the environment and the endowment," UBC's treasurer Yale Loh told CBC. 

Loh said students and activists looking for a fast and complete divestment from fossil fuel companies have to be patient, adding there are legal considerations at play.