Divested?
No.
FOI Request
Partially successful (does not detail indirect investments).
FOI Report
Dear
Our ref: f2023-042 Investment in Israeli Companies
Further to your FOI request, set out below, I am responding on behalf of Lucy Cavendish College, as follows:
Of the companies listed in your request, the Lucy Cavendish College portfolio has 88,550 shares in Barclays, valued as at 16/10/2023 at £135,552.
If you are unhappy with the service you have received in relation to your request and wish to make a complaint, you should write to me, at the address below.
If you are not content with the outcome of your complaint, you may apply directly to the Information Commissioner for a decision. Generally, the ICO cannot make a decision unless you have exhausted the complaints procedure provided by the College. The Information Commissioner can be contacted at:
The Information Commissioner’s Office
Wycliffe House
Water Lane
Wilmslow
Cheshire
SK9 5AF
[2]lucy logo COL.jpg
Ms Alison A Vinnicombe (she/her) | Registrar, FOI Officer & Fellow
Lucy Cavendish College, Lady Margaret Road, Cambridge, CB3 0BU
Investment Policy
Lucy Cavendish College Investment Policy (2022)
“18. Notwithstanding the financial objectives of the Fund stated above, Lucy Cavendish has longsince adopted a responsible investment policy to incorporate extra-financial factors such environmental, social and governance (“ESG”) considerations in the selection of investments.
19. The Fund has excluded direct holdings with significant exposure to tobacco or armaments since 2012 and, in 2018, extended these restrictions to exclude direct investments in the thermal coal and tar sands industries with an aim to further reduce any indirect holdings in these areas over time
20. In November 2020, the Governing Body made the following decisions: The level of indirect exposure to fossil fuels should be kept to less than 1% with a longer term view to continue to reduce indirect exposure further. The College’s investment managers should use an appropriate range of alternative investments in ‘green funds’ or ‘green companies’ and their remit should be wider than just renewable energy companies. Equal weight should continue to be given to social and governance issues alongside environmental issues when selecting companies or funds in which to invest.
21. The Fund therefore aims to include holdings judged to have a positive contribution to managing environmental and social risks, such as renewable energy investments and impact funds where appropriate. Where external investment managers are utilised, the Committee should select managers who are signatories of the United Nations Principles for Responsible Investment where possible.
22. The Fund also expects any performance reporting from external managers to include regular reporting on ESG related factors, including the carbon footprint of the portfolio, and the results of any proxy voting on the Fund’s behalf relating to ESG considerations.
23. The responsible investment policy will be reviewed at least every three years with due regard for prevailing industry best practice and current evidence-based research in the area.”
Student Body Motions
MCR motions passed on Palestine solidarity and on boycotting Barclays.
Contacts
Bursar: Mr Tony McNiff; bursar@lucy.cam.ac.uk
Senior Tutor: Dr Jane Greatorex; senior.tutor@lucy.cam.ac.uk
President: Professor Dame Madeleine Atkins; president@lucy.cam.ac.uk