According to the design, inaccessibility exists in university financial management, allowing decisions about university expenditures and savings without the accountability of student stakeholders.
If universities are to shape the future we want to see, they need to let the voice of the future enter the room. This means that the basic financial training and board environment focuses on welcoming students’ voices rather than shutting them out.
Having said that, this is not just a case of inviting students to participate in university governance. The overall financial practice also lacks transparency.
Only 18% University List their annual investments publicly, let alone publish the minutes of their investment committee meetings.
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In short, this means that in four-fifths of British universities, you will not be able to find out which companies, products and projects your institution has invested in, and how they made these decisions.
Our public educational institutions should not hide where their money is-so why are they not more transparent?
Many organizations, especially before and after COP26 this year, have issued climate action statements, commitments to sustainability, and demonstrations of social responsibility.
according to Latest HESA data, British universities sit on assets worth more than 22 billion pounds, most of which will be deposited in banks.
We know that finance is an important part of our journey to achieve climate justice, but, Of the six universities that have ethical banking policies, to whom they should provide banking services, but none exclude banks that provide funding for fossil fuels.
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In contrast, less than half of universities have developed ethical investment policies and pledged to exclude fossil fuels.
Barclays Bank-one of the largest banks in the UK, lists many top universities as customers-pooling Over £21 billion Enter the field of fossil fuels in 2020-making it Europe’s largest funder.
If our universities still rely on those who support and expand the fossil fuel industry, who withdraw investment from fossil fuels, or claim to be a leader in climate, what is the point?
Students need to be able to hold their institutions accountable to ensure that they lead us to a more sustainable economy and a fairer society.
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This happens through small pockets organized by students on campus and get things like SOS-UK, Mankind and earth, Demilitarized education And many others.
Last year, we saw institutions take measures to increase transparency and participation. For example, at the University of Bristol, students formed a working group to make recommendations to the Investment Committee on changes in investment policies. But there is still a long way to go.
Universities should not directly fund or support those who directly fund the climate crisis and social injustice-if students can see it and challenge them, they should be able to see it.
This author
Mel Kee is the campaign manager of Student Organizing for Sustainability UK (Student Organizing for Sustainability UK)SOS-UK).Mel manages Investment change Campaigns to support students’ ethical investment campaigns in their universities.
