5.8 University of Strathclyde

The University of Strathclyde describes itself as a “as a socially-progressive, values-driven organisation” but does not have an ethical investment policy.[1] The response to our freedom of information request shows that the university held shares worth nearly half a million pounds in two nuclear weapons producers as at 30 September 2020:

Company	Value of shares (£)
BAE Systems	328,724
Thales	144,909
Total	473,633

BAE Systems is one of the world’s largest arms companies and produces key components for nuclear weapons deployed by the UK, the US and France. BAE is also constructing Britain’s four new nuclear-armed “Dreadnought” class submarines. Thales is involved in the production of nuclear-armed medium-range air-to-surface missiles for the French military and has other contracts relating to the country’s nuclear weapons programme.[2]

Action

If you are a student at the University of Strathclyde, we suggest you contact the university’s principal to explain why the university should adopt a policy that excludes nuclear weapons producers from investment (see section 1 for points that you could include). You can also contact Campaign Against Arms Trade Scotland for information about how to get involved with the divestment activities of the CAAT Universities Network: scotland@caat.org.uk.

NOTES

[1] We asked the university whether it has an ethical investment policy under freedom of information. The response stated that it does not. The university has, however, announced that approximately 7% of its investment portfolio from direct investments will be transferred to a sustainable fund portfolio in order to reduce the carbon intensity of the portfolio: https://www.strath.ac.uk/whystrathclyde/news/strathclydecommitstosustainableinvestmentplanand70carbonemissionscutby2025/.

[2] S Snyder, Producing Mass Destruction – Private companies and the nuclear weapons industry (PAX, 2019): https://www.dontbankonthebomb.com/wp-content/uploads/2019/05/2019_Producers-Report-FINAL.pdf.