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Significant changes announced to Socially Responsible Investment Policy

04 May 2017

The Board has agreed to further strengthen our commitment to social responsibility and environmental sustainability

The University of Manchester

The Board has agreed significant changes to the University’s Socially Responsible Investment Policy (SRIP) to further strengthen our commitment to social responsibility and environmental sustainability.

The University is a (non-exempt) Charity and members of the Board of Governors act as Trustees. As Trustees, they have responsibilities for the investment of the University’s assets.

The significantly revised policy will see the University change its relationship with its Investment Managers which will allow it to pursue an ethical investment approach, whilst minimising any potential negative impact on its investment returns. This approach includes a commitment to identifying and promoting low or zero-carbon investments.

The University will now work with its investment managers to ensure that the revised policy has meaningful impact and will report back to the Board on how this is being achieved.

The policy also commits the University to demonstrating the impact of the SRIP by publishing a ‘snapshot’ of shareholdings on the corporate website on a quarterly basis, giving an enhanced level of transparency to investment decision-making.

The revised policy has been drawn up following a review which took into account the views of staff and students. It was agreed by the Board of Governors on 3 May 2017

The key features of the policy will see the University:

  • Requiring Investment Managers to incorporate environmental, social and governance factors into their selection criteria when deciding where to invest.
  • Identifying and promoting low or zero-carbon investments where available without detrimental impact to investment risk and returns.
  • Divesting in shares in companies which do not respond positively to concerns about their practices or are deemed to be in breach of acceptable standards or ethical or environmental practice.
  • Engaging more proactively with Investment Managers to ensure that the new policy is being put into practice.
  • Committing to publish a quarterly snapshot of investment shareholdings on the corporate website.

An organisation’s investment portfolio cannot be changed overnight, but we are confident that the new ways of working outlined in the policy will lead to a longer term benefit to our University. More work will now take place with our investment managers to ensure that the SRIP is put into practice and effects real change. 

The revised policy complements work which has already taken place to ensure that socially responsible procurement processes operate at the University.  Before any major expenditure is agreed with one of the University’s suppliers, social, environmental and economic factors are taken into account. 

In addition, all of the University’s 8,000 suppliers have access to a free online Supplier Engagement Tool to create a sustainability action plan for their own business.

The University’s commitment to social responsibility as a key strategic aim makes us distinctive within the sector and it is important that we ensure that this is brought to life through our policies and the way in which we conduct our business. 

Edward Astle, Chair of the Board of Governors and Will Spinks, Registrar, Secretary and Chief Operating Officer