St Catharine’s announces new investment strategy to reduce fossil fuel spending
The policy is aimed at demonstrating the college’s commitment to addressing climate change
Charissa CheongSt Catharine’s College has today published their annual investment policy which aims to cut spending towards the fossil fuel industry. The college has said they will not invest directly in companies with more than 10 per cent of their business in the fossil fuel, arms, tobacco or gambling industries.
The ethical strategy also states that Catz will hire investment managers and manage the college’s own agricultural land to maximise long-term soil health and biodiversity, to demonstrate a commitment to tackling climate change.
The policy explains that, as it stands, Catz only holds indirect investments, primarily through two funds -“The Future World ESG Developed Index Fund” and “The COIF Charities Ethical Investment Fund” – both of which claim to be concerned with ethical and environmental affairs.
The college states that its “movement of funds” is expected to be completed by January 2021.
The College Master, Professor Sir Mark Welland, commented on this new investment policy in a press release, saying: “Today’s announcement firmly places the latest environmental, social and corporate governance standards at the heart of St Catharine’s investment strategy. Thank you to everyone who has worked tirelessly to ensure our approach is led by our community’s shared values and aspirations.”
Alice Horrel, the Catz JCR’s Ethical and Environmental Affairs officer, also spoke about the investment strategy: “The new investment strategy news is incredibly exciting and urgently needed. This move by the College shows a commitment to fighting the climate crisis and this has a great deal of the support amongst the student body.
“The metronome climate clock in New York tells us that we have roughly 7 years until our planet reaches the point of no return and it is important decisions like this one that will attempt to reverse this trend.”
Featured image credit: Geograph, via Creative Commons License
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