Council
news
An
ethical investment policy has been adopted by the University,
under which it has decided to no longer invest in tobacco
companies.
Following
a decision by the University’s ruling body, Council,
on November 8, the University will now take steps to disinvest
its holdings in tobacco stocks. Around 3% of the University’s
£52m endowment funds are currently invested in tobacco.
University
of Leeds Vice-Chancellor Professor Sir Alan Wilson said:
"Our decision was made on a matter of principle, and in
recognition of the social responsibilities of a leading
university.
"We
have a longstanding policy of not accepting research grants
from tobacco companies. The decision to pull our endowment
funds out of these same companies is a natural extension
of this policy.
"We
would like to acknowledge the important role played by
our students in reaching this decision."
Earlier
this year, the University adopted a ‘socially responsible’
investment policy, committing the University to the principle
of engagement with companies on the full range of ethical
issues.
