The University of Aberdeen’s sustainable investments policy states that the university “will not directly invest” its endowment funds in “companies whose business has a significant interest in … the manufacture of controversial weapons including cluster bombs, landmines, nuclear weapons (systems or components) and companies that manufacture civilian firearms” (our emphasis).
This wording is not as strong as an earlier version of the policy which stated that the “the Funds will not invest in companies involved in the manufacture of controversial weapons including cluster bombs, landmines, nuclear weapons (systems or components), biological/chemical weapons systems or components) and depleted uranium weapons manufacturers”.
The addition of the words in italics weakens the policy, as it allows the university to make indirect investments in nuclear weapons producers and to invest in companies that get some of their revenue from nuclear weapons production (see section 8.1 on the importance of having a comprehensive policy). It is not clear why the university changed its policy.
We have been unable to establish how the policy operates in practice, as the university rejected our request for a list of its investments on the grounds that it does not hold this information. The University did send as a list of the pooled funds where its investments are held, but we have been unable to obtain a complete list of assets for each of these funds.
Action
If you are a student at the University of Aberdeen and you are concerned about the University’s investments, you can write to the university’s principal to request more detailed information. You can also contact Campaign Against Arms Trade (CAAT) Scotland about getting involved in the divestment activities of the CAAT Universities Network: scotland@caat.org.uk.
Don't Bank on the Bomb Scotland 