The College has removed fossil fuels from its £12 million investment portfolio and committed to investing in responsible companies, putting it ahead of all other Royal Colleges.
Fossil fuels are now part of a growing list of excluded investments - which already included tobacco, arms, adult entertainment, alcohol and gambling companies – demonstrating the College’s commitment to improving sustainability.
But we’ve not stopped there.
Our entire approach to investment has been reviewed as we believe that simply divesting from fossil fuels does not go far enough. Not investing in ‘bad’ companies is an important step but actively choosing to invest in responsible companies is a more meaningful commitment and better reflects our responsibilities as a College.
As a result, we will now only invest in companies that follow good environmental, social and governance (ESG) policies and practices. For example, companies that are reducing their waste, supporting local communities and promoting diversity and equality in their workforce.
We will also be using the United Nations Sustainable Development Goals to filter and screen our investments and we have signed up to the Principles of Responsible Investment – a voluntary set of principles supported by the UN.
Calum Mercer, Director of Finance and Operations at RCPsych, said: “It is great that we are now using our financial assets to invest in innovative, responsible companies making a positive impact in terms of the UN Sustainable Development Goals. This supports the delivery of a better and more sustainable future for everyone. It will also generate long-term income enabling us to do more as a College.”
Back to February 2020 eNewsletter.