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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”

USS is conducting a survey on ’Sustainable and Ethical Investment’.  As you may know, to date USS has had major investments in fossil fuels along with armaments and tobacco. They have agreed to divest from tobacco but need to hear from members that we want them to divest from fossil fuels, armaments and other sectorsContinue reading “USS Survey on Sustainable/Ethical Investments”

We have just observed major changes in the list of ‘USS top 100 equities’ on the website (https://www.uss.co.uk/how-uss-invests/the-fund/investments/uss-top-100-listed-equities).   In total these represented over £ 1 Billion disinvested from carbon intensive industries. This appears to be a massive change in investment strategy and one that we believe is in line with the views of most USS members.Continue reading “Big changes in USS top 100 listed equities”

Attendees USS Daniel Summerfield – Head, Corporate Affairs (Chair) Simon Pilcher, Chief Executive of Investment Management Naomi Clark, Head Investment Product management David Russell, Head Responsible Investment Joel Sawyer, Corporate Communications Manager Ethics for USS Paul Kinnersley, retired member from Cardiff University, co-ordinator for Ethics for USS Sue Blackwell, ex of Birmingham University and deferredContinue reading “Summary of Meeting with USS May 27th”

Article from Times Higher Education (June 10th 2020) by Bill Spence The Universities Superannuation Scheme’s recent announcement that it will “exclude, and where necessary, divest” from tobacco companies, thermal coal and some weapons industries is welcome but long overdue. Members may be surprised, for instance, that it took 70 years for the discovery that cigarettes cause lungContinue reading “Why is the UK’s largest pension scheme still investing in fossil fuels?”

So USS have refused to support Shareholder Resolution 21 at Shell’s AGM on May 19th. Their response is below. This is of course incredibly disappointing and we will continue to press USS to provide us with a pension that doesn’t rely on carbon intensive investments. We are asking for a meeting with Simon Pilcher ChiefContinue reading “USS response to Open Letter call for support on Shareholder Resolution”

 Ethics for USS are working with others to support Resolution 21 at the Shell AGM in May. The letter below – signed by 405 USS members – many of them senior academics – from 35 UK institutions has been sent to USS on May 10th. We will publish their response when received. We call uponContinue reading “USS, Climate and Shell AGM May 19th 2020 Resolution 21”

Some thoughts from members of the Ethics for USS team (Andrew Jarvis, Keith Pitcher, Ceri Sullivan, Paul Kinnersley and Jay Ginn) We need an energy transition, not a cliff Here we are, pension owners with Shell as the primary asset securing our retirements, along with plenty of other high carbon investments in the USS portfolio.Continue reading “How should USS divest”

This is NOT financial advice – but if you have already decided to switch your DC funds in Investment Builder to ethical funds here are instructions to help you do it

Fossil Fuels going up not down! Our review of USS holdings in Fossil Fuel companies shows the total investments have gone up to over £ 1,300 million. And add to that £ 257 million in Zurich Airport, £ 131 million in Ryanair and 10% private equity holding in Heathrow.