World first: Cambridge University wants to invest responsibly
And students actually persuaded them
The Uni, which has the largest endowment in Europe, is looking to put its assets in greener more socially responsible investments.
Uni chiefs, along with their £5 BILLION fund, will start thorough assessment of alternative investment possibilities aiming to move to a more responsible strategy after the year-long process.
The Uni’s investment gurus will find it difficult to turn down any recommendations of the working group, officially formed today.
Students in Positive Investment Cambridge (PIC) have been working tirelessly for four years to encourage the Uni to reconsider its investment status quo.
The Tab understands there have been dozens of constructive high-level, closed door meetings which gained PIC respect from otherwise conservative big deals.
Ellen Quigley from PIC said: “We look forward to working collaboratively with the University administration to investigate all options for environmentally and socially responsible investment of our endowment, including everything from energy efficiency financing to coordinated shareholder engagement to divestment.
“There’s no question that the outcomes from this project could carry great weight among other large institutional investors. This is a detailed, year-long study of responsible investment undertaken by some of the world’s finest minds – we are delighted.
“This is a courageous step, unique among institutions wrestling with this issue.”
A Uni spokesperson told us: “As part of its regular review of its policy on Investment Responsibility, the University has established a working group to explore its position in the light of developments in the understanding of the integration of environmental, social and governance aspects in investment decisions.”
But Ellen couldn’t contain her excitement: “The University has shown us great respect.
“It is working with us to develop a clear-eyed, evidence-based, and morally sound investment policy that will serve the needs of future generations and guide future decision-making.”