University signs Principles of Responsible Investment
The University of St Andrews has signed up to the UN-backed Principles of Responsible Investment.
The Students’ Association have been encouraging the University to invest its endowment responsibly for over a decade. Student campaigning on the issue began with a referendum on ethical investment in 2003, and most recently with the implementation of the sustainable investment policy in 2007. Student representatives on University Court have been involved with investment decisions ever since. Most recently, the Microfinance Society and Oikos St Andrew have been working to introduce the PRI initiative.
The United Nations-supported Principles for Responsible Investment (PRI) Initiative is an international network of investors working together to put the six Principles for Responsible Investment into practice. Its goal is to understand the implications of sustainability for investors and support signatories to incorporate these issues into their investment decision making and ownership practices. In implementing the Principles, signatories contribute to the development of a more sustainable global financial system.
The University is following in the footsteps of over 1,000 companies and $30 trillion of assets from major worldwide funds, representing a growing social conscience to investing responsibly.
The CEO of the PRI, James Gifford, will visit St Andrews on Friday 3 May to witness the signing with the Principal of the University, Professor Louise Richardson. He will then deliver a seminar, followed by a wine reception and a chance for students to ask questions to an assembled panel, including investment academics.The launch event is hosted by the Students’ Association, Management Society, Investment Society and the Centre for Responsible Banking and Finance.
Students’ Association President, Freddie Fforde, commented: “The PRI represents the best in student led campaigning for responsible investment at the University of St Andrews. The Students’ Association began campaigning for an Ethical Investment policy at St Andrews ten years ago and in a referendum of May 2003, 91% of the 1,200 students voting elected to support an ethical investment campaign.
Students have been working closely with the University ever since to develop a Sustainable Investment Policy, implemented in 2007. I am proud that our university has built on this progress by signing up to UNPRI and ensuring that its investment strategy sends a proud message to students at St Andrews and elsewhere.”
- This article was updated at 14:15 on 2 May 2013 to reflect corrected information.