In short:
The Australian National University (ANU) has launched a review of its investment portfolio, including military investments.
The decision follows months of student protests over the university’s investment in weapons companies supplying to Israel.
What’s next?
Staff, students and alumni are invited to participate in the review through to July 17.
The Australian National University (ANU) has announced a review of its investment portfolio following months of pro-Palestine protests on its Canberra campus.
In April, students set up camp to protest against the university’s investments in weapons companies supplying to Israel.
ANU investments included BAE, Lockheed Martin and the Northrop Grumman Corporation, which reportedly amounted to $479,000 at the time.
The students said they would not leave their encampment unattended until the university divested from these companies and cut ties with its exchange partner, the Hebrew University of Jerusalem.
Although the camps have now been largely disbanded and dozens of students are facing disciplinary action for their involvement in the protests, the university has now responded to their demands.
An ANU issues paper has revealed plans for a review of the university’s investment portfolio, acknowledging “changing expectations” around its financial decisions.
“Recent advocacy from our community has helped to draw attention to a lack of clarity in the SRI [socially responsible investment] policy on revenue derived from the manufacture and sale of technology with military applications,” it reads.
“This is not an issue for ANU but across the university sector. Changing community sentiment requires new considerations for the university’s investment portfolio.”
The issues paper clarifies that the university’s current SRI policy prohibits its investment managers from investing in companies that earn more than 20 per cent of their revenue by participating in the coal, gambling, pornography or tobacco markets.
It does not restrict investment in weapons.
The paper also raises the possibility of restricting investment in artificial intelligence (AI) systems.
“As an example, consider the important role investors play in shaping the use of artificial intelligence in a responsible manner,” it says.
“Without responsible oversight and development, the use of generative artificial intelligence may amplify bias and cause individual, societal and environmental harms.”
ANU has invited staff, students and alumni to participate in the review through to July 17.
The decision follows an announcement from the University of Sydney that it would hold a similar review after students held pro-Palestine protests on its campus.