Investments
The University of Sheffield holds no shares in any companies involved in the extraction of fossil fuels.
Our policy
We understand the damage the fossil fuel industry continues to do to our planet, and we are committed to investing our funds in a socially responsible way. The University’s Endowment Investment Policy seeks to eliminate exposure to activities causing explicit environmental harm by excluding companies that are classified as oil and gas producers (exploration for, drilling, production, refining, supply, distribution, and retail) or those that supply oil equipment, services, or distribution.
Our divestment from fossil fuel company shares was completed in 2019; we have held no investments in oil and gas companies since that time.
In making investment decisions the University expects its appointed Investment Managers to encourage good behaviour or discourage poor behaviour through the screening of investments, either positively or negatively and through the direct engagement with firms. Our Endowment Investment Policy requires our Investment Managers to eliminate exposure to the following areas:
- explicit environmental damage including, but not limited to, all fossil fuels companies
- manufacture or sale of armaments;
- the manufacture of tobacco products;
- the sale of tobacco products (where the investment is in companies that derive more than 10% of their revenue from selling tobacco products); and
- the manufacture of non-pharmaceutical products that are being tested on animals for cosmetic or other non-medical purposes.
At COP26 in November 2021, the University reaffirmed these commitments by becoming a founding signatory to a new declaration of climate expectations, outlining minimum climate commitments expected of its investment managers.
Our positive impact investments
As well as divesting from damaging industries, we are also exploring how our endowment investments can be used to support companies that have a positive impact. We ensure our investment managers actively consider and strive for the following ethical and sustainability criteria when choosing how to invest the University’s funds:
- Promotion of sustainability, good business ethics and good employment practices;
- Protection of the global environment, its climate and its biodiversity;
- Promotion of community investment;
- Promotion of international cooperation and an end to international conflict;
- Protection of human rights and equality;
- Sustainable provision and procurement of essential resources and services
In the 2023/24 academic year, 7.6% (£3.9 million) of the University’s Endowment was allocated to impactful investments. These include organisations such as:
- charities
- education (universities) and student housing
- housing associations
- renewable energy infrastructure
- green bonds
These investments reflect our broader commitment to supporting companies and initiatives that align with our values.
Reporting and transparency
We completed full divestment from fossil fuel companies in 2019. Since then, our Endowment has maintained zero exposure to oil and gas investments.
We also recognise that, for now, the world still relies on fossil fuels. This includes aspects of our operations, which cannot be solely powered by renewable sources of energy at present. We are committed to moving away from fossil fuels wherever possible.
To ensure transparency and accountability in how funds are managed, the University is committed to publishing an annual disclosure of all its investment holdings alongside an annual compliance statement showing how it is meeting this policy.
The University will also produce an Annual Impact Report showing its progress to reinvest in positive impact companies.