Divestment

You might have read about the Student Union Council passing a motion to get the Conservatoire to divest its investments from fossil fuels. But what does that mean and what is the next step for the campaign?

 

In October I asked the Director of Finance for information on the investments the Conservatoire holds. The Conservatoire invests money so that it can see a consistent financial return and spends this on some big costs for example piano hire and building development. After analysing this data it came through that 8% of the Conservatoires investments were in fossil fuels and mining, this amounts to a few hundred thousand pounds. Following finding out this information I took a motion to the Student Union Council where it was passed unanimously. In short the motion set out that the Union believes that fossil fuels cause climate change and that supporting organisations that are the biggest contributors to climate change is not in the interest of students at the Conservatoire. We ask that the Conservatoire divests its investments and creates an ethical and transparent investment policy. The Conservatoire would need to change where hundreds of thousands of pounds go, so this is no small feat!

 

We’ve passed this motion to the Conservatoire’s Finance and General Purposes Committee who meet on Friday and look forward to hearing a response. In the mean time if you would like to get involved send me a message on: SUPresident@rcs.ac.uk

 

Will Stringer

President

Royal Conservatoire of Scotland Student Union