Swinburne University of Technology has adopted a Responsible Investment Charter to guide its future investment decisions.
The Charter commits the university to take account of environmental and social impacts in the investment choices that it makes.
Identified for particular consideration are companies that generate significant revenues from:
- Fossil fuels extraction or coal power generation
- Tobacco production
- Cluster munitions and anti-personnel landmines
The University will also monitor and review investments to determine if any are associated with the breaching of accepted human rights norms, which may result in an individual company being excluded from portfolio holdings.
Chief Financial Officer, Andrew Field, says the university will consult with its advisors to invest responsibly, and will monitor and review investments against the charter on an ongoing basis.
Mr Field says the charter is available to students, staff and the general public.
'The university will regularly report to its stakeholders on its progress in meeting the requirements of the Charter,' he says.
The Charter was developed following a review of investment practices in the Australian university sector and other large investment managers, including the Australian Future Fund, which has made the decision to exclude investment in primary tobacco product manufacturers.
The announcement comes ahead of a tender for Swinburne investment management services. Providers who respond to the tender will be required to demonstrate how they intend to meet the requirements of the Charter.
Download the Responsible Investment Charter.