Mcgill University

This Investment Policy Statement outlines the strategic direction for the endowment fund of the Institution Royale Pour L'avancement Des Sciences/Université Mcgill. Its primary objective is to preserve capital while generating optimal total returns to provide reliable income to beneficiaries and cover operational costs. The policy mandates adherence to the University's social and ethical standards, including maintaining a low-carbon portfolio. Key strategic pillars encompass robust asset diversification, rigorous integration of environmental, social, and governance (ESG) criteria in investment decisions, and a strong commitment to socially responsible investing. Specific targets include a 33% reduction in carbon emissions for certain asset classes by 2029, an increase to 10% in sustainable investments by 2029, and continuous improvement in UNPRI assessment by 2029.

The Finance and Infrastructure Committee discussed the FY2027 budget planning exercise. The University is forecasting a balanced budget for FY2026, which may alleviate budget corrections measures for FY2027. Expense projections are expected to continue to outpace revenues, with the University's annual operating deficit projected to reach approximately $10M in FY2027, increase to $47M in FY2028, and $71M in FY2029. Plans to achieve a global budget correction target of $10M for FY2027 are being refined and will be communicated to Faculties and Administrative units by January 2026. Challenges and risks for FY2026+ were also discussed, including geopolitical tensions and immigration policies, spending caps on the use of MES capital funds, and limited borrowing capacity for infrastructure and IT capital projects.

The Committee addressed the appointment of co-chairs for the Subcommittee on Persons with Disabilities, approving Annie Lussier and Aditya Nemana for three-year terms. A cyclical review of the EDIC's terms of reference was initiated, with discussions focusing on the Committee's mandate, structure, and the need to review roles and representation within its Subcommittees. The Committee also received annual reports from the Subcommittees on Women, Queer People, and a verbal brief from the Subcommittee on Persons with Disabilities, highlighting their activities and initiatives to promote equity, diversity, and inclusion on campus.

The Board of Governors meeting included discussions and approvals regarding several key proposals. The Strategic Research Plan (2026-2031) was endorsed, aiming to guide research and innovation at McGill and meet national program requirements. A proposal to rename the French version of the Department of Social Studies of Medicine was approved to better reflect the department's mission. The establishment of the McGill Centre for Microbiome Research was also approved, recognizing its interdisciplinary research program. Additionally, the meeting covered proposed revisions to the Code of Student Conduct and Disciplinary Procedures, the Global Engagement Strategy, appointments to Senate Standing Committees, and reports from various committees including the Academic Policy Committee, the Board of Governors, the Committee on Libraries, and the Committee on Physical Development. The creation of a M.Sc.(Applied) in Cybersecurity Analytics and a Graduate Certificate in Cloud and Operational Technology Security were approved to address the cybersecurity workforce shortage. The Task Force on Indigenous Rematriation/Repatriation was presented, and the 2025 Joint Meeting of the Board of Governors and Senate was reported on, focusing on strategic transformations. Reports from the Equity, Diversity, and Inclusion Committee and the Annual Report on the Financial State of the University were also reviewed.

The McGill University Strategic Academic Plan for 2017-2022 is guided by a vision of an open, connected, and purposeful university. It focuses on five key objectives: being open to the world, expanding diversity, leading innovation, connecting across disciplines and sectors, and connecting with communities. The plan aims to advance learning, create and disseminate knowledge, provide excellent education and research, and offer service to society, while embracing principles of academic freedom, integrity, responsibility, equity, and inclusiveness, and integrating sustainability and well-being into its core operations.