Author Archives: ethics4uss

https://www.gov.uk/government/news/thames-water-fined-4-million-after-catastrophic-sewage-blunder website 27/5/21 Thames Water has been fined £4 million after untreated sewage escaped from sewers below London into a park and a river. In New Malden The court was told approximately 79 million litres of sludge escaped across an area of about 6,500 square metres. It took 30 people a day for almost aContinue reading “References for tweets 07/11/2022 about Thames Water”

USS holding £ 92 million in Glencore  https://www.uss.co.uk/how-we-invest/where-we-invest/public-market-investments Glencore being fined over one billion dollars for ‘Foreign bribery and market manipulation’  https://www.justice.gov/opa/pr/glencore-entered-guilty-pleas-foreign-bribery-and-market-manipulation-schemes Glencore being fined over 28 million dollars by UK Serious Fraud Office https://www.sfo.gov.uk/2022/06/21/serious-fraud-office-secures-glencore-conviction-on-seven-counts-of-international-bribery/ ABP exits Glencore https://www.ipe.com/news/abp-exits-glencore-investment-over-human-rights-concerns/10055740.article

If you have ever contributed to USS, some of your money is supporting illegal settlements in Palestine. On the USS website list of investments can be found several of the 112 companies identified by the United Nations in 2020 as doing business in illegal Israeli settlements in occupied Palestinian land.             Many of the 112 companies areContinue reading “Your money is supporting illegal settlements in Palestine”

We have met recently with USS and were informed of their plan for interim targets for their pathway to ‘net zero by 2050’. Worryingly these interim targets – 25% reduction by 2025 and 50% by 2030 – are based on carbon intensity rather than absolute emissions. Using carbon intensity means that if the fund grows,Continue reading “The way forward for USS”

Following a sampling of ten universities, on how easy it is to find out what fund choices are open to DC members, USSDivest made the following requests at the meeting: Overall, the meeting was very positive, with USS responses largely in favour of our suggestions.     USS provides standard information about DC choices, to be placedContinue reading “Meeting between USS and USSDivest October 2021 (Post 2)”

Ahead of our meeting with USS in October which focussed on communication with members in the DC part of the scheme (who have the choice of an ethical fund for their contributions) we conducted a survey of how information is provided to members about these choices. This could become even more important if the changesContinue reading “October Meeting with USS”

The recent announcement by the JNC that the threshold for the DC scheme will be reduced from £60k to £40k on 1/4/22 means that many more than the current 37% of active members will suddenly join the DC section. We think this presents a real opportunity to raise the level of awareness among USS membersContinue reading “Changes to the DC Scheme”

Below is a summary of the meeting between USS and Ethics4USS held on January 21st. This meeting was primarily to discuss the results of a survey of members conducted by Maastricht University in October 2020. The survey showed strong support for sustainable investment from members – with many respondents happy to have smaller financial returnsContinue reading “Summary of Meeting with USS (January 2021)”

So we recently asked USS three questions and we have now received their answers: Q. As a 10% owner of Heathrow Airport is USS supporting the building of a third runway despite the recognition that it would lead to a dangerous increase in carbon emissions and that further investment is risky as Heathrow could becomeContinue reading “Three questions for USS and two disappointing answers”

USS: Dame Kate Barker, Chair USS Trustees  Dr Daniel Summerfield, USS Head of Corporate Affairs David Russell, USS Head of Responsible Investment  Ethics4USS Brian Hoskins , retired member, Grantham Institute, Imperial  Sue Blackwell, deferred member, Birmingham  Ceri Sullivan, Cardiff  Ellie Harrison, Dundee  Charlotte, Rae, Sussex  Andrew Jarvis, Lancaster  Paul Kinnersley, retired member, Cardiff  Introductions – AllContinue reading “Summary of Meeting with USS October 27th 2020”