At the last Open Meeting, the JCR was mandated to encourage the College to consider the nature of its investments in industry and push for any such investments deemed 'unethical' to be re-allocated.

The JCR is still in discussions with the College on this but we hope to be able to update everyone at the Open Meeting on Tuesday 13th November.

Below is the JCR's current policy on Responsible Investment:

Responsible Investment

The JCR notes
1) That research undertaken by the CUSU EEC Ethical Investment Officer,requesting bursars to disclose their investment portfolios under the Freedom of Information Act showed that though Queens' College had no direr involvement in the arms trade, it did invest in pooled funds, Legal & General and CAF UK Equitrak Fund, which have no guarantees.
2) That whilst charities have a legal obligation to maximize returns, recent research by EIRIS (Ethical Investment Research Service) suggests that up to 20% of the market can be excluded from investment options without affecting financial performance.
3) That other charities, for example have ethical investment policies that do not compromise the legal obligations of their trustees, for example within Cambridge, Selwyn, St Edmund's and St Catherine's have investment policies that exclude arms companies.
4) That Cambridge Students Against the Arms Trade has launched a well-received campaign, that its march and rally brought together over 230 students onto the Senate House Lawn, and that it has accumulated many more signatures on its petition.
5) The UK arms industry exports billions of pounds worth of weapons every year, often to regimes with poor human rights records, to areas of conoid, or to countries with huge development needs.
6) The accumulation of Carbon Dioxide as a result of the burning of fossil fuels has been identified as the primary factor behind global climate change.
7) Some 'artificial' chemicals are persistent in the environment as nature has no means to break them down and render them harmless, and their accumulation can be problematic. Other chemicals and pollutants, such as dioxides, are linked to everything from cancer to abnormalities in the human reproductive system.
8) All major fishing areas in the world have either reached or exceeded their natural limit for replenishment and as a result fish stocks are in decline. Unsustainable deforestation is also a major problem, in terms of ecosystems and global climate change.
9) The arms industry is a significant producer of persistent chemicals and other pollutants, as is the conflict it fuels.

The JCR believes
1) That the arms trade fuels war, undermines development, diverts resources from health and education, and breeds corruption.
2) That holding shares in an arms company is tantamount to condoning its action.
3) That holding shares in companies whose 'core activity' involves the extraction or
production of fossil fuels, the manufacture of chemicals which are lasting in the environment and conceded to health problems, or the unsustainable harvest of natural resources (including timber and fish) similarly condones irresponsibly towards our environment.
4) That student support for ethical investment suggests that holding shares in arms companies or companies which are irresponsible towards the environment might conflict with the duty of the college, under the Charity Commission Guidelines: CC14 Section F, to avoid investments that might alienate its members or supporters.
5) That there is little evidence to suggest that an ethical investment policy would involve any significant risk of financial detriment (and therefore a breach of legal obligations as a charity) to the College.

The JCR resolves
1) To put pressure on the college authorities responsible for investment decisions to
implement an Ethical Investment Policy that excludes companies involved in the
manufacture or sale of arms.
2) To mandate the Green officer to ensure this policy is enacted and promoted within the College.

Proposed: Daniel Percept
Seconded: Oliver Beardon
Passed by 75 votes to 2 on 27.2.07.

A friendly amendment was accepted to remove: JCR Resolves 2) To put pressure on the college authorities responsible for investment decisions to adopt an approach of exclusion or, where deemed more appropriate, constructive shareholder engagement with companies whose 'core acbviW' contributes to:
(i) Global climate change, through the extraction or production of fossil fuels
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(ii) The manufacture of chemicals which are persistent in the environment and linked to long term health concerns
(iii) The unsustainable harvest of natural resources