The University of Birmingham has been accused of significantly weakening its restrictions on investing in weapons companies.
The British university has replaced a policy committing to “minimise” investments in arms, tobacco and alcohol companies with “investment principles” that require the consideration of “financially material” environmental, social and governance (ESG) factors.
The university’s responsible investment policy, adopted in 2022, committed to incorporating “ESG issues into investment analysis and decision-making processes”.
Investment managers were required to “give consideration” to “investment exclusion criteria”, including “companies where revenues exceed 10% of revenues with activities connected to weapons systems”, as well as “companies manufacturing whole weapon systems, cluster munitions and anti-personnel landmines”.
Read more: Birmingham University accused of weakening restrictions on investing in arms companies
