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Nouse - Best Front Page - ‘University investment in arms trade increases’

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NOUSE Nominated for Guardian Student Newspaper of the Year

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Autumn Term Week Seven Tuesday November 25 2008 www.nouse.co.uk Est. 1964

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“It’s like you ‘liberate’ some cake from the bins, but you still want it to be yours” The freegan way of life >> M10 - 11

University investment in arms trade increases Investment rises £350,000 since 2006

Second-highest in UK excluding Oxbridge BAE SYSTEMS

GSA ‘in crisis’ as elections are void THE ACTING President of the Graduate Student Association has said that organisation is ‘in crisis’ after last month’s election results were declared invalid. The election process, which was criticised in a report published over the summer, was deemed to be undemocratic and unreliable >> NEWS P3

B Henry’s given temporary repreive THE UNIVERSITY has chosen to reconvene the Bar Strategy Group to assess the future of B Henry’s bar. There were fears that the bar was to be shut down, but this decision ensures its future until March 2009 at least. Both Alcuin JCRC and YUSU, who have campaigned to keep the bar open, praised the decision >> NEWS P2

Intruder sparks security fears

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FEARS FOR student safety have been raised after an unknown intruder gained access to a locked bedroom on campus. The intruder, who entered a Goodricke bedroom, left a rose on the bed. The student concerned has called for University action >> NEWS P3

Mixed results for BUCS league teams Henry James Foy EDITOR THE UNIVERSITY has been strongly condemned for substantially increasing its investment in arms companies despite continued pressure from divestment groups. After a £350,000 increase over the past two years, the University’s shareholding in armsprouducing companies is worth almost £1,000,000. The continued investment, and the University’s lack of an ethical investment policy has been labelled “despicable”, “a disgrace”

and “fuelling war”. National and campus campaigners have been calling for divestment since 2005. Investments in BAE Systems, the world’s third largest defence company, and Rolls-Royce, which powers 25% of the world’s military aircrafts, currently total £997,342. In 2007 the University held £644,371 worth of BAE shares. The figures, compiled by Campaign Against the Arms Trade (CAAT), show York as the UK’s sixth-largest University investor in the arms trade, and the secondlargest when Oxford and Cambridge colleges are excluded. In 2006, York placed fourteenth nationally.

“The University needs to be held accountable, and take responsibility and an ethically approved stance,” said People and Planet Chair Robyn Heather. “It’s despicable and unethical that an educational institution would make money from war,” she added. “While Universities across the country are selling shares in arms companies, York are increasing their investment. Nationally, we are a disgrace,” Heather continued. YUSU Environment and Ethics Officers John Nicholls and Joe Thwaites stated: “Holding investments in arms companies has been an ongoing blemish on the

University’s reputation and we find the continued and increased use of students’ money in arms companies very concerning.” The shares are held by the University’s Pension Scheme, which provides pensions for staff on retirement or in the event of death. “The University of York Pension Scheme has a legal obligation to maximise returns on its investments as it is accountable to its beneficiaries. Its trustees pursue a range of investments in order to

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