University arms trade investments

I've just gotten back to Aber, and been glancing through the local Cambrian News from the past couple of weeks and there have been a few things on UWA's arms trade investments by chief reporter Patrick O'Brien. Ceredigion MP Mark Williams was quoted as saying that he will be seeking a meeting with the VC to raise the issue.

To be fair I think nothing much has changed since the Campaign Against the Arms Trade released its report on university investments well over a year ago, and highlighting UWA's place as within the top ten university investors in BAE Systems. UWA's response has been that its pension fund is legally required to seek the best investment, be it in companies that contribute to gross human rights abuses or otherwise. Time permitting, I will be trying to do a bit more digging over the next couple of weeks on the issue. Any suggestions are more than welcome.

This is the editorial from the Jan 4 2007 edition:
"Uni's arms trade link indefensible

Aberystwyth university's attempted justification of its continuing connection with the arms trade is indefensible.

Despite widespread condemnation of the Government's highly controversial dropping of the Serious Fraud Office probe into a ₤40bn arms deal between BAE Systems and Saudi Arabia, involving an investigation into alleged bribery and a ₤60m slush fund, the university this week confirmed it was keeping its 92,000 BAE shares, currently worth about ₤390,00.

It must urgently reconsider that decision. BAE runs major operations across five continents, but buyers of its Hawk jets have included countries condemned for human rights abuses.

The university says its pension fund must get best return for its members. Where human rights are concerned, this is indeed an inadequate argument. In any case, the Church of England, for one, has demonstrated that ditching arms company shares and adopting an ethical investments policy need not to any degree dent the performance of funds.

To its great credit, Lampeter university has now turned its back on the arms trade, selling its shares in Smiths Group, whose products include Hawk gun-pods and F-16 weapons-aiming systems. Aberystwyth university should not hesitate to follow that lead in the case of BAE."