20 April 2022
USU Board Media Release: Investment Review
With Enviro Week only recently passed, the Board has requested our Finance Committee undergo a comprehensive review of the USU's investments. Its makeup has undergone continued changes over recent years, in light of both the COVID-19 pandemic and the Board’s increasing awareness of its relevance and impact.
In 2019, the USU Board committed to investing almost a third of our portfolio in an ethical fund, and last year we passed an investment policy which, among other things, committed to no direct investment in unethical companies such as those involved in the fossil fuel industry, modern slavery, gambling, alcohol, munitions, and tobacco. The USU has begun recent discussions concerning our investment in the Australian Foundation Investment Company fund, which, as with other market-based funds, has indirect links to unethical industries, and the need to consider if this investment aligns with our organisational values.
The committee will review our investments against the USU strategy & our values, and consider historical performance, management, general profitability and divestment – with an eye towards developing a future ESG framework.
The review will be concluded with recommendations in May.