UBC treasurer Yale Loh said he has requested reviews of full divestment be presented in “as expeditious a manner as possible” but it will take time. UBC’s investment in the fossil fuel industry, which includes oil, gas, and coal, is two per cent, or $43 million, of UBC’s portfolio, Loh said on Friday. He said UBC has asked for a legal and financial analysis of divesting from oil and gas by March 31.

He applauded the passion of the Extinction Rebellion students but urged them to consider another method of protest. “We are very concerned about this action and about their safety,” he said.

He said the board will continue outreach to the group to discuss other options.

The university must consider the penalties for removing investments, and the legal ramifications, and at the same time investigate more sustainable approaches, he said.

“This is very much a journey for us,” he said, adding that the university is on track to reduce emissions by 67 per cent by 2021.

Laura Chen, a UBC student and member of Ono’s climate advisory group, said students from UBCC350, Climate Hub, and the Social Justice Centre, drafted the climate strike open letter that 1,600 students and faculty signed calling for UBC to declare a climate emergency and divest. After this, members from the same three groups formed the climate advisory group for Ono and drafted the climate emergency declaration.

She said she understands the frustration and demands of Extinction Rebellion, but added that it’s important to recognize how hard the students have worked to get the board to make these changes, and to hear from the UBC community to ensure there is justice and equity for all members of the community moving forward.

“People are waking up to the climate crisis, and we are glad the board is committing to exploring full divestment. This is a really exciting development,” said Chen.