The University Court held a special meeting on Thursday 3 October 2024, to give additional time to members to consider the summary reports of two Short-Life Working Groups on aspects of responsible investment. The conclusions of that meeting were further considered at the scheduled meeting on Monday 7 October. In addition to the outputs of the working groups, Court’s discussions were informed by technical advice from investment specialists.
Members of Court take their responsibilities as charity trustees extremely seriously, ensuring that at all times they act in accordance with their duties, including, amongst other things, stewardship of the University’s resources in its best interests. The University’s endowment fund is made up of bequests and other philanthropic donations. It does not contain any portion of tuition fees.
Court noted that the existing policy arrangements to manage our investments responsibly are reported to and assessed by external organisations, including investment advisors and the United Nations, and achieve consistently high PRI (Principles of Responsible Investment) annual scores. Members of Court are keen to see this continue and evolve, noting that the review of our Responsible Investment Policy will support this, to ensure that our approach aligns with our values and is grounded in robust principles.
As recommended by the second short life working group, Court agreed to the establishment of a new group to carry out ethical review and due diligence of the University’s investments and to advise on the application of definitions relating to exclusions. The formal remit for this group and its composition will be developed with care, include relevant expertise and will be brought to Court for approval to ensure it will make a coherent and effective contribution to the University’s decision-making and oversight structures. The purpose of the group is to further enhance the University’s existing policies and practices relating to responsible investment and the University will continue to avoid new purchases of certain direct stock investments while the new group is being formed.
In the meantime, the University will continue the review of the Responsible Investment Policy in order to further update and enhance its approach and to benefit from the rich input received from staff and student communities. The work of the two Short Life Working Groups and further input from the University’s Investment Committee was of great value. The members of Court thank all of those involved.
Summary Report from the Short-Life Working Group on Definition of Armaments for Investments
Summary Report from the Short-Life Working Group Investment Approaches in the International Context
Related links
University’s responsible investment efforts recognised with high PRI scores