University signs Principles of Responsible Investment

April 30, 2013 5:39 pm 0 comments

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.

What do you think?

More from The Saint

  • Body found on St Andrews beach

    Body found on St Andrews beach

    The body of a man has been found on the beach in St Andrews, police in Fife have confirmed. A Police Scotland spokesperson said: “Enquiries are continuing to establish the circumstances.” While there is no official confirmation, the body was found as part of the missing person enquiry into Kieran...

    Read more →
  • Student missing after night out

    Student missing after night out

    A first year St Andrews student, Kieran McCann, has been reported missing after a night out. Friends report seeing him at the Vic in the early hours of Wednesday 28 January, adding that he appeared tipsy but not drunk. A close friend of Mr McCann, Piers Ruud Moss, told The Saint that concern for him has...

    Read more →
  • Blackhorn gains licence to sell alcohol

    Blackhorn gains licence to sell alcohol

    Blackhorn, a burger bar on St Andrews’ Church Street, now has a licence to sell alcohol in spite of opposition from local residents. The decision, made by the Fife licensing board, will also allow the restaurant to stay open later. The board made the decision despite the nine public complaints on issues...

    Read more →
  • Refreshers’ 2015 Preview

    Refreshers’ 2015 Preview

    Crawling out from under our duvets where we’ve hidden catching up on Netflix and sleep, we savor one last non-microwavable meal before bundling up in scarves and fluffy coats to return once more to the bubble. Though the beginning of Week 1 means the return of late nights and library visits, it also...

    Read more →
  • Into the Woods – Reviewed

    Into the Woods – Reviewed

    Into the Woods is a strange Witch’s concoction – a rarity from its inception, its old-school big-studio musical style places it in a genre from a bygone era. The plot is uneven, its emotional tones overlap too quickly, and its narrative intersections are too often painfully contrived. It might...

    Read more →