One says – at least in the context of Giraud's axioms for toposes and (∞,1)-toposes) – that colimits are universal in a context in which they are stable under pullback. This is described in more detail at commutativity of limits and colimits.
The statement “colimits are universal” is then one of Giraud's axioms that characterize Grothendieck toposes in the 1-categorical context and Grothendieck-Rezk-Lurie (∞,1)-toposes in the higher categorical context.
A locally presentable (∞,1)-category has universal colimits if for every morphism in the induced pullback-(∞,1)-functor on over-(∞,1)-categories
preserves all pullbacks.
For a colimit diagram, this says in particular that
If is an (∞,1)-topos, then it has universal colimits.
This is HTT, theorem 6.1.0.6 (3) ii)
Section 6.1.1 of