Image credit: George Brooks
Oxford University today announces the appointment of Huw van Steenis to its Investment Committee.
In March, Congregation, the University’s sovereign body, requested that the University reinforce the governance of its investments with the appointment of an Investment Committee member with Climate-Conscious expertise. Huw’s role will focus on strengthening and consolidating the oversight of sustainability and socially responsible investment (SRI) across the University’s investments. He joins an Investment Committee which has broad and deep expertise in managing endowments and advising long term investors globally.
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.
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. For avoidance of doubt, the Investment Committee is not a regulated entity and it sets policy, rather than making individual investment decisions. The Investment Committee provides a framework for implementation by the University’s investment manager, Oxford University Endowment Management (OUem).
Professor Louise Richardson, Vice Chancellor of the University of Oxford, commented: '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.'
Huw van Steenis commented: '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.'