UBC’s Energy and Water Services (EWS) is managed with support from an active advisory board. Given our significant financial commitment to energy and water, the concept of expert advice to the Senior Administration and the Board of Governors emerged from the models of the UBC Properties Trust (UBCPT) and the UBC Investment Management Trust (IMANT). The Boards of Directors for both trusts provide UBC with industry-based knowledge of costs, trends and risk mitigation.
Intent
- Create an Advisory Board (“the Board”) of respected and capable industry leaders and experts who can act as an informal “Board of Directors” for UBC’s EWS unit. The Board provides strategic advice and oversight to management, and acts in an advisory capacity to the Senior Administration and the Board of Governors on major investments and risk management issues.
- In its advisory capacity, the Board strengthens the governance of energy and water issues, and increases the confidence of the Senior Administration and Board of Governors. In particular, the Board ensures that master infrastructure plans for electricity, thermal energy, natural gas, water, stormwater, and sanitary sewer services are aligned with UBC’s academic mission and industry best practices.
Rationale
- UBC is very conscious of the high financial and operating risks associated with its current operations, and with the additional investments under review in terms of electrical distribution, cogeneration, water, natural gas, sanitary and stormwater management.
- The potential exists for some energy and water initiatives to serve as research and demonstration projects, which can help UBC to enhance its sustainability leadership.
Terms of Reference
- Provide UBC with strategic business planning, which involves evaluating significant infrastructure projects and all investments required to avoid complications with system capacity constraints.
- Offer guidance on significant infrastructure investments, to ensure the risks and costs are aligned with UBC’s academic mission.
- Ensure that the performance for, and verification of, significant energy and water projects is consistent with industry best practices.
- Share expert advice on trends in utilities, for UBC to manage the financial and operational risks effectively.
- Align emergency management requirements with UBC’s academic mission, and address any expectation gaps.