UEA sets example in policy for investment

March 31, 2000

The University of East Anglia is to become the first United Kingdom university to pursue an ethical investment policy with its central funds.

The university assembly agreed the step on Monday after a working party recommended that ethical investment is both financially and legally viable.

Finance managers will gradually screen out arms manufacturing companies from the university's main holdings and will consider other ethical issues as they arise.

Finance law prevents the making of investment decisions solely on an ethical basis, but the council concluded that, since some shareholdings might be detrimental to the university, they can be avoided.

Andy Marriott, student union finance officer and a member of the working party, said: "UEA has students and staff from around the globe. It is not the best thing for students coming here, who may have suffered under a repressive state, to see that UEA has been part and parcel of arming that country. This is the crux of our justification."

Penny Shepherd, executive director of the UK Social Investment Forum, believes that organisations are increasingly accepting that their reputation is affected by the investment decisions they make.

She said: "This first adoption by a university illustrates that the concern about ethical investment has spread to the academic community."

UEA formed the working party on ethical investment last March.

You've reached your article limit.

Register to continue

Registration is free and only takes a moment. Once registered you can read a total of 3 articles each month, plus:

  • Sign up for the editor's highlights
  • Receive World University Rankings news first
  • Get job alerts, shortlist jobs and save job searches
  • Participate in reader discussions and post comments

Have your say

Log in or register to post comments

Most Commented

James Fryer illustration (27 July 2017)

It is not Luddism to be cautious about destroying an academic publishing industry that has served us well, says Marilyn Deegan

Jeffrey Beall, associate professor and librarian at the University of Colorado Denver

Creator of controversial predatory journals blacklist says some peers are failing to warn of dangers of disreputable publishers

Hand squeezing stress ball
Working 55 hours per week, the loss of research periods, slashed pensions, increased bureaucracy, tiny budgets and declining standards have finally forced Michael Edwards out
Kayaker and jet skiiers

Nazima Kadir’s social circle reveals a range of alternative careers for would-be scholars, and often with better rewards than academia

hole in ground

‘Drastic action’ required to fix multibillion-pound shortfall in Universities Superannuation Scheme, expert warns