Investments attacked by students

Protesters have accused Cambridge University of "turning a blind eye" to Ethical Investment and "continually not engaging with CUSU Ethical affairs" on the topic, at a student demonstration on Monday.

"Cambridge should be ashamed to be lagging so far behind so many other Universities both in the UK and abroad on the issue of ethical investment," said Mischa Foxell, CUSU Ethical Investment (SRI) Officer.

She told The Cambridge Student (TCS):

"As it enters its ninth century the University is working hard to increase its endowment fund, but it is turning a blind eye to the fact that financial sustainability has to be accompanied by ethical sustainability to ensure the future of Cambridge as a great university."

Roughly 200 people attended the hour long protest. The group, which included supporters of CUSU Ethical Affairs and members of Amnesty International, waved banners and signed a petition to raise awareness of ethical investment and encourage the University to adopt a Socially Responsible Investment (SRI) policy.

Cambridge University at present has no SRI policy, whilst investment policies in place at different colleges vary greatly. A 2009 Freedom of Information Act revealed in a TCS investigation earlier this term, however, that most colleges have no comprehensive ethical investment policy. Furthermore, it exposed the fact that several Colleges, such as Trinity and St. John's, have investments in the arms manufacturers BAE Systems and QuinetiQ, as well as in Rolls Royce; companies condemned by Campaign Against the Arms Trade (CAAT) as unethical. The University declined to publish information about its investments under the Freedom of Information Act.

"It was fantastic to see so many people at the protest today, showing the University how much their students care about this incredibly important issue," Mischa Foxell told TCS.

"Whilst we were protesting outside the Senate House the University Council, who are the main governing body of the University, actually had to take the back route into their meeting to avoid us.

"Hopefully we made sure that they can't keep shutting their eyes to Cambridge's failure to implement an ethical investment policy," she added.

The CUSU Ethical Investment Campaign, launched last term, has sought to encourage the introduction of an SRI policy at Cambridge University. Campaigners have set up a petition for students, staff and alumni, as well as a 'penny the Vice-Chancellor' initiative, which involved sending postcards with a penny attached to the Vice-Chancellor, Professor Alison Richard, to highlight the campaign.

"It would not be tolerated if Cambridge University publicly endorsed companies which violate International Human Rights Law or damage the University's educational mission. It should not be tolerated that the University can financially support these companies through its investments," reads a statement on the campaign website. "The University needs an investment policy that reflects its commitment to human rights, education, and sustainability."

Despite the growing profile of the campaign across the campus, the University has not officially acknowledged the issue of ethical investment, something which protestors criticised on Monday.

"The University have not openly responded to the protest on Monday," Foxell told TCS.

"This is unsurprising given that they haven't responded publicly to a CUSU motion calling for an ethical investment policy, our requests for a review of their refusal to respond to a Freedom of Information act on the University's investments, hundreds of 'Penny the Vice-Chancellor' postcards from students calling for an ethical investment policy, and online campaigning and petitioning."

The Vice-Chancellor was unavailable to comment on the issue.

Other universities in the country have already implemented ethical investment policies, including St Andrews, Edinburgh, Manchester and Oxford.

Susan Nash, an NUS Executive, who addressed protesters at the demonstration, stressed the importance of educational institutions adopting an SRI policy.

"Educational institutions are publicly funded beacons of the community which help us to form an understanding of the wider world, so it is important that they have Ethical Investment Policies," she told TCS.

"Universities have a duty to reflect the values of the students and staff themselves and should not be contributing indirectly to groups that are destructive to human rights."

She also told TCS that in spite of the University's lack of response to the campaign, the NUS would pursue the issue further and contact the Vice-Chancellor in writing about the implementation of an SRI policy at Cambridge.

Alice Baghdjian

Deputy News Editor