Aber Environment and Ethics

Kept and maintained by the Environment and Ethics Officer of the Guild of Students at the University of Wales, Aberystwyth. All original posts and information provided here are the responsibility of the Environment and Ethics Officer, and are in no way taken to be those of UWA or the Guild of Students.

Wednesday, February 07, 2007

Not the cleanest company in the world...

The government has confirmed that weapons manufacturer BAE Systems is facing not just one, but six corruption probes over its activities and practices in foreign countries.

UWA's investments in companies that export arms to authoritarian and dictatorial regimes is not its own direct investments, but rather staff pension funds. I'm still trying to work my way through this, but I understand academic staff to be part of the Universities Superannuation Scheme (USS) pension fund. While USS nominally has a socially responsible investment policy that came out of a People and Planet campaign a number of years ago, this does not enable it to disinvest from firms and industries that are perhaps beyond the ethical pale - tobacco and the arms trade come to the top of the mind.

USS arms trade investments for which monetary values are available are as follows, from the Campaign Against the Arms Trade:
BAE Systems £118 million
Cobham £15 million
Rolls Royce £46 million
Smiths Group £46 million
VT Group £3 million

The FairPensions campaign group ask that members of USS write in to express their dissatisfaction with continued investments in the arms trade, projects with questionable environmental and social implications, and association with gross human rights abuses around the world. You can do so via to this address:

Mr. Colin Bubsy
Communications Manager
Universities Superannuation Scheme Ltd.
Royal Liver Building, 2nd Floor
Pier Head
Universities Superannuation Scheme Ltd.
Liverpool L3 1 PY

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