UCL Council - responsible investment policy

At its meeting of 12th July, UCL Council considered a number of options for the future development of the university's investment policy. Council agreed to an investment policy that follows the principles of the Climate Active Endowment Fund, which is due to be launched by UCL's appointed investment manager, Sarasin. This investment fund is aimed at universities, charities and other organisations seeking to invest in a socially responsible manner. Council decided not to put UCL's investments into the Sarasin fund itself, believing that retaining a separate portfolio, using the same principles, would enable greater flexibility for UCL to set its own policy, and adjust the strategy for the portfolio and its responsible investment strategy should circumstances change in future. It also agreed to give its Investment Committee an explicit remit to monitor its approach to responsible investment. In order to implement this, several members of the previous Ethical Investment Review Committee will be invited to join the Investment Committee. At that point the Ethical Investment Review Committee will be discontinued.