Student Societies Unite for Ethical Investment – October 12th 2015

On the 12th October we published an open letter to the Vice Chancellor and Finance Advisory Group in the Wessex Scene with an accompanying opinion piece which you can read here. The letter was signed by more than 50 staff and students including the presidents of 11 student societies. It is reproduced below.


To the Vice Chancellor and Finance Advisory Group,

As a leading research institution the University of Southampton has acknowledged its important role in demonstrating leadership by promoting sustainability in all that it does and in making a positive impact on society as a globally responsible University. These are values that it also seeks to instil in its students. The University’s research continues to make a substantial contribution to the science that underpins our understanding of climate change and to the technical advances and social changes that will help us adapt to a changing environment.

The University’s financial security is built largely upon the tuition fees paid by its students from both the UK and abroad. Therefore, they have a reasonable expectation that its endowment fund be invested in a manner that is consistent with preserving the long term health of global society and the environment. The University has been clear about its very welcome desire to see sustainability embedded across its community and we feel that a strong commitment to ethical investment is an essential step in this process. It is vital to ensure that financial decision making at the University is consistent with its ambition to be, “recognised as the global leader in sustainability in the Higher Education sector”.

We the undersigned believe:

  • Recent FOI requests revealing that the vast majority of the University’s endowment capital is being held as cash mean that this is an excellent time to consider a new investment strategy.
  • The University should work with its staff and students to produce a transparent, socially and environmentally responsible investment strategy that is consistent with its research and sustainability objectives. This should apply to both direct investments and to those in mixed funds administrated by third parties.
  • Anthropogenic global climate change presents a serious threat to food security, public health, human settlements and precious habitats and biodiversity both on land and at sea. As such the University’s investment strategy should exclude companies engaged in exploiting the most polluting and environmentally dangerous fossil fuel resources; namely coal, tar sands and Arctic drilling.
  • In making a commitment on fossil fuel investments the University of Southampton would be in good company, joining the Universities of Glasgow, Edinburgh, Oxford and Warwick; fellow Russell Group members. Ahead of vital international climate talks in Paris this December the need for unambiguous academic support for climate action could not be greater.
  • In view of the irrefutable health risks of smoking and the unethical business and lobbying practices of big tobacco, especially in developing nations, the University must explicitly reject investment in this industry.
  • Arms companies, in profiting from the proliferation of weapons and global conflict, are highly unethical. The University must be clear that it will never hold direct or indirect investments in the arms industry.
  • Committing to socially and environmentally responsible investment would serve to greatly enhance the University of Southampton’s reputation with current and prospective students and within the national and international Higher Education sector.

Yours sincerely,

Student Signatories

Mike Allwright* – Invest Positive UoS Campaign Coordinator, PhD Student Biological Sciences

Jake James-Knell – President, Green Action Society

Maddie Cava-Beale – Secretary, Green Action Society

Rosie Pearce – Politics and International Relations

Frances Prince – Modern Languages

Cameron Meldrum – Co-chair, Young Greens

Luke Gosling – Treasurer, Young Greens

Joel Foreman – Elections Officer, Young Greens

Florence Angelo – Equality and Diversity Officer, Young Greens

Daniella Montali-Ashworth – President, SU Conservation Volunteers

Rachael Avery – Publicity Officer, SU Conservation Volunteers

Pippa Hayes – Social Secretary, SU Conservation Volunteers

Chloe Nunn – President, Marine Conservation Society

Jo Coomber – Vice President, Marine Conservation Society

David Allwright – Oceanography

Aidan Starr – Oceanography

Kyle Mayers – PhD Student OES

Steven Bourne – PhD student OES

Jessica Bellworthy – PhD Student OES

Steph Allen – PhD Student OES

Victoria Hemsley – PhD Student OES

Lucie Munns – PhD Student OES

Lissette Victorero – PhD Student OES

Jesse Cusack – PhD Student OES

Elena Bollati – PhD Student OES

Mark Marsden – President, Student Switch-Off Society

William Townsend – President, Environmental Science Student Society

Michelle Gibson – Environmental Science

Annabelle Damerum – President, Biological Sciences Postgraduate Society

Anna Page – Media and Communications Officer, Biological Sciences Postgraduate Society

James Gott – PhD Student Biological Sciences

Joe Jenkins – PhD Student Biological Sciences

Zoe Harris – PhD Student Biological Sciences

Matt Roberts – President, Worldview Southampton

Poppy Bowers – President, Amnesty International Southampton

Sara El-Kateep – President, Students for Palestine Southampton

Filipe Soares – President, Southampton Marxists

Mert Cal – Secretary, Southampton Marxists

Trina Davies – Wessex Scene, Science and Environment Editor

*Contact Email: investpositiveuos@gmail.com

Staff Signatories

Prof. John Shepherd – National Oceanography Centre, Former Chair of DECC Science Advisory Group

Prof. Jeanice Brooks – Department of Music

Dr. Conor McHugh – Associate Professor in Philosophy

Dr Gabriele B. Durrant – Associate Professor in Social Statistics

Dr. Kate Schreckenberg – Lecturer in Environmental Science

Dr. James Dyke – Lecturer of Complex Systems Simulation

Dr. Benjamin Oliver – Lecturer in Music

Dr. Chris Prior – Lecturer in History

Joyce Lewis – Senior Fellow in Electronics and Computer Science

Jane Warren – Senior Fellow of the Higher Education Academy

Ceri Dunn – Senior Teaching Fellow in English Language

Laurence Georgin – Senior Academic Coordinator in Modern Languages

Dr. Adrian Nightingale – Research Fellow in Droplet Microfluidics and Point-of-Care Diagnostics

Dr. Alexander Pryor – Post-Doctoral Researcher in Archaeology