Ethical Investmeant policy?

Just to clarify to anyone who may think this is ultra vires, or has as has been said in guild council illegal… this is not the case the legal stand point for ethical investment for charities is below.

These are where:
1. investments conflict with the aims of the charity
2. investments might hamper the charity’s work, either by making potential recipients of aid unwilling to be helped because of the source of the charity’s money, or by alienating some of those who support the charity financially.
3. some supporters or beneficiaries consider that on moral grounds a particular investment would conflict with the objects of the charity, so long as the trustees are satisfied that the course would not involve a risk of significant financial detriment.
4. the charity has express powers to invest ethically.

The guild is required by charity law to endeavour to make sure that none of its actions alienate its members. Not having an ethical investment policy is a relatively major hole within this work, most charities or public intuitions’ now have one (including the university).

Next GC I’m submitting a motion for an ethical investment policy I have based it on the criteria that the ethical consumer magazine use, as they are well established and respected.

Although from this criteria, I have removed items that I think that some in GC would object to. These are a for the record Armaments (as GC has already given its thoughts on this), Nuclear Power and Genetic Engineering (I thought this maybe similarly contentious, for similar reason to the arms), Politics (Political Activity does the company attempt to influence government policy), Boycott Call (if there is a campaign group against it, this could be put in because the guild may want to avoid being associated with a company that has a negative image), Anti-Social Finance, Company Ethos), Animal testing (I have left in cosmetic animal testing).

The ones I have left in are in line with guilds current ethical policy, however I would like to emphasise that things can be taken out and put in by GC and I hope this will be the subject of debate there.

The Guild should attempt were feasible to minimise its negative impacts on the Environmental where ever feasible, including Climate Change (embed emissions), Pollution & Toxics, Habitats & Resources. The Guild should attempt were feasible to protect animal rights (Cosmetic Animal Testing, Factory Farming). The guild should attempt where feasible to maximise its Sustainability (Organic, Fairtrade, and Positive Environmental Features). The Guild should work to protect where feasible People (Human Rights, Workers' Rights, Supply Chain Policy, Irresponsible Marketing)

We can also debate what should or should not be in the policy here and I am happy to meet up with anyone to discuss so hopefully by GC we have a policy that everyone can agree on.

Aslo in the motion I have included this “For any new banking contract, the approval of Guild council is required. With the exception of a urgent need of change of banks in which case the officer team will take the decision to be ratified at a later date.”, I fully believe that as many decisions as possible should be given directly to students, the guild doesn’t change banks very often so I think the debate every five or so years would be something that guild council can take on.