An EI campaign has been running this academic year at LSE with student support, but School are still to respond as of yet.
In October 2006 the Union General Meeting passed a motion on divestment from the arms trade, specifically 14 arms companies in which it had been found LSE was invested. The exact wording of the motion can be found below. The motion was taken to the School's Investment Subcommittee on 20 November by Joel Kenrick, the SU Treasurer and was schedualed for further discussion at the next meeting of the committee. However, unfortunately this meeting has been postponed due to a staff resignation, so the campaign has somewhat had its hands tied over the last few months on this particular front.
However, another divestment campaign has been growing in the meantime at LSE, specifically relating to the current situation in Sudan. At the beginning of 2007, another motion was (almost unanimously) passed by the UGM, calling on the School and the SU to divest in those companies which meet the 'Sudan Divestment UK' guidelines. Again, the full details of the motion can be found below.
Therefore it looks like these campaigns could be entering a crucial, and difficult, stage now - namely persuading the school that these policies really are viable and for them to incorporate them into their investment strategies asap. However, it looks like things are slowly moving, with the school having agreed to a meeting of the Investments Sub-Committee towards the beginning of next term at which the issue of ethical investments, including Sudan divestment, will be discussed. It seems that the challenge now is to raise awareness and mobilise student and staff support through demos, petitions, student media, events, stalls - anthing really! This could prove to be challenging during exam term, when everyone at LSE has a tendecy of chaining themselves to the libraray... we'll keep you posted!
Arms Trade Motion
Union notes:
1. LSE has received funding to the sum of £125,295.00 from two of the following companies: BAE Systems, EADS, GKN, Lockheed Martin, Thales Groups, Boeing, Cobham, Finmeccanica/Augusta Westland, Qinetiq, Smith Group, Rolls Royce, VT Group and DSTL.
Union believes:
1. That the arms trade causes devastation and pain across the world
2. That the LSE has a moral obligation to divest in and not accept donations from those dealing in this trade
Union resolves:
1. To ensure that the SU does not invest in or accept donations from the following companies: BAE Systems, EADS, GKN, Lockheed Martin, Thales Groups, Boeing, Cobham, Finmeccanica/Augusta Westland, Qinetiq, Smiths Group, Rolls Royce, VT Group and DSTL.
2. To lobby the school so that it will no longer invest in or accept donations from the following companies: BAE Systems, EADS, GKN, Lockheed Martin, Thales Groups, Boeing, Cobham, Finmeccanica/Augusta Westland, Qinetiq, Smiths Group, Rolls Royce, VT Group and DSTL.
3. To announce this policy on the global email
4. To press release this policy to local and regional press
5. To mandate the Environment and Ethics Officer to report back to the UGM on the policy’s progress after two weeks
Sudan Divestment Motion
Union Notes:
1. That the LSESU has submitted a paper to the School requesting the adoption of a Socially Responsible Investment policy.
Union Believes:
1. That the ethical consequences of colleges' investments are an issue of mounting concern to LSE students.
2. That targeted divestment is a powerful method of influencing the Sudanese government.
3. That it is incumbent upon the rest of the world and LSE in particular, to do everything possible in order to facilitate the end of the genocidal killing of civilians and the restoration of peace and security to the Darfur region.
4. That there is a humanitarian crisis occurring in the Darfur region in the Sudan, a humanitarian crisis that has killed over 400,000 civilians since February 2003 and 2.5 million people have been displaced.
5. That foreign investment has been of great importance in enabling the heavily indebted Sudanese government to finance its military policy of genocide.
6. That the last reliable source of information indicated that University bodies held a large amount of stocks in companies which meet guidelines for divestment by 'Sudan Divestment UK[1].
7. In the United States many Ivy League universities, including Columbia, Yale, Harvard, Dartmouth College and the University of Pennsylvania implement Socially Responsible Investment policies, often through an Advisory Committee on Socially Responsible Investment.
Union Resolves:
1. To call for the School to divest from those companies identified as meeting the 'Sudan Divestment UK' guidelines on Sudanese divestment following a review of the holdings of the School.
2. For the LSESU to divest from those companies identified as meeting the 'Sudan Divestment UK' guidelines on Sudanese divestment.
3. To call for the School and its affiliates to make a statement of its intention not only to divest but to refrain from investing in any companies which meet the 'Sudan Divestment UK' guidelines until the situation in the Darfur has been resolved.
4. For the Executive Committee of LSESU to actively pursue the issue through meetings with the relevant administrative bodies.
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[1] Sudan Divestment UK judges a company to be suitable for divestment if they: a. Contribute to government revenue, b. Impart minimal benefit to disadvantaged citizens that are typically located in the geographic periphery of Sudan, and c. Have demonstrated no substantial corporate governance policy regarding the situation in Darfur.