In a competitive process led by a panel including student and climate scientist representatives, Huw was chosen due to his exceptional background and insight into incorporating sustainability issues into strategic investment decisions.
Huw is Senior Adviser to the Chief Executive of UBS and Chair of the firm’s Sustainable Finance Steering Committee. Prior to this, Huw was Senior Advisor to Mark Carney, when he was governor at the Bank of England, leading a wide reaching review on the future of finance that included a focus on smoothing the transition to a lower-carbon economy and catalysed climate change stress tests for financial institutions.
I am delighted to welcome Huw to the University’s Investment Committee. He brings a wealth of expertise and deep commitment to a field of ever growing importance. As the University adopts policies to underpin an ambitious sustainability strategy, it is essential that our investments reflect our commitment, and I look forward to working with all members of the Investment Committee to help ensure that they do.
Vice Chancellor, Professor Louise Richardson
The Investment Committee, chaired by Sir Paul Ruddock, is responsible for supervising the management of the University of Oxford’s investment assets. This includes setting investment objectives, policies, risk guidelines and investment restrictions, including those relating to SRI. The Investment Committee provides a framework for implementation by the University’s investment manager, Oxford University Endowment Management (OUem).
Since the passing of the divestment resolutions, OUem has been working to implement these across the University’s investments. As part of this, OUem has worked with the investment group, BlackRock, which launched the Fossil Fuel Screened Equity Index Fund this week. This has been designed for the University’s holdings which are structured to allow regular drawn down, and screens for all the University’s ethical restrictions (including tobacco, illegal weapons and all fossil fuel extractors).
I am honoured to be joining Oxford University’s Investment Committee. The University and Oxford University Endowment Management have shown real innovation in terms of its broader approach to sustainability, investment policy and implementation. I look forward to contributing to the Investment Committee and Oxford University Endowment Management’s ongoing success and advising the University to ensure a clear and accountable approach to oversight of its investments and their sustainability.
Huw van Steenis
More information on OUem’s work on climate change and fossil fuel divestment can be found on the OUem website.