2022/23 President, Maia Jarvis, is delighted to announce that Royal Holloway’s updated Statement of Investment Policy now includes a 100% fossil fuel exclusion as a result of her ‘Invest for Change’ campaign. Well done, Maia!
A successful campaign update from your former President (2022/23), Maia Jarvis!
Maia Jarvis
President 2022/23
Last year, I led an ‘Invest for Change’ campaign to encourage the University to stop investing in fossil fuels and I am absolutely delighted to announce that Royal Holloway’s updated Statement of Investment Policy includes a 100% fossil fuel exclusion! The University’s investment assets total £54.3 million and a small percentage of those were invested in fossil fuel companies - due to our campaign, the University has removed those assets and has pledged to keep its investment portfolio fossil free! The new policy also includes other exclusions on weapons, tobacco, gambling, and adult entertainment.
Back in February, I asked staff and students for support and we managed to get 230+ people to sign the open letters. I have worked really closely with the members of Investment Subcommittee (they govern the University’s investments) throughout this year. They were really keen to hear the voices of the Royal Holloway community on this topic and I’m so pleased I was able to bring student voice to the table and effect policy change. I would like to say a heartfelt thank you to all the students and staff that provided so much support for this campaign; it goes without saying that it couldn’t have happened without you.
As well as committing to divest from fossil fuels, the Investment Subcommittee also agreed to another ask of my campaign: to increase transparency around their investment decisions. A public-facing annual report will be produced which states all the companies the University invests in and their performance against their sustainability targets. This enables better accountability as it means students or staff can see where the University is investing their money and can start a dialogue/ask questions about their investments.
Over 100 universities in the UK (out of around 150) have already committed to divest from fossil fuels and so in updating our policy, we join an established divestment movement in the higher education sector. The aim of divesting is to stigmatise the oil and gas companies that are destroying our planet: by refusing to invest in them, we’re clearly saying that we do not think they are ethical and, as a result, putting pressure on governments and external bodies to regulate fossil fuel companies. Find out more by visiting People and Planet's Fossil Free Campaign page.
This ethical investment work forms part of the University’s Sustainability Strategy (see the circle at the bottom of this graphic).
This collaborative step between the Students’ Union, staff, and the University Council’s Investment Sub Committee is a true demonstration of community and values-led work.
It has been incredibly rewarding organising and working with colleagues to bring about this policy change and it’s one of the things I am most proud of looking back on my year as President. I can’t wait to see how the University and the Students’ Union will continue working together to ensure students are at the heart of climate action.
Find out more by reading the news article on the Student Intranet and see the new exclusion list on p.3 of the updated Statement of Investment Policy. If you want to know more about the Invest for Change campaign and how to get involved, visit their website.