Thursday, 14 June 2007

UCL Provost comes clean on investment following Disarm UCL campaign

UCL students, staff and alumni have welcomed UCL Provost Malcolm Grant’s support for adopting an ethical investment policy. The Provost in yesterday’s UCL Council meeting agreed that it was time for UCL to invest its money ethically. The announcement follows a dynamic and broadly-based campaign, which called on UCL to divest from its’ £ 900,000 worth of shares in arms trader Cobham plc. Over 1200 UCL students, staff and alumni have signed a petition in support of the Disarm UCL campaign.

Environment and Ethics UCL Student Union officer Joyce Ngai said:

“We are delighted with the wise decision that the UCL Provost and the UCL Council have taken. Ethical investment is the future. UCL has proven itself to be a truly global and innovative leader. We believe this ground-breaking move will be an inspiration to other universities to take the issue of ethical investment seriously."

UCL student and campaigner Jonny Mears said:

“Selling the shares in arms trader Cobham must be UCL’s priority now. A future ethical investment policy must exclude investment in arms companies. We will monitor the progress on this issue closely. We hope that our fellow students around the UK will take heart from this fantastic result here at UCL, and push for clean investment at their own university.”

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