The Council of the Australian National University has agreed to divest stocks in seven companies following an independent review by an ESG research organisation.
The review, commissioned by the university as part of its socially responsible investment policy, was undertaken by Corporate Analysis, Enhanced Responsibility (CAER).
As a result of the ratings, the university will divest its holdings of Iluka Resources, Independence Group, Newcrest Mining, Sandfire Resources, Oil Search, Santos and Sirius Resources.
The stocks to be divested represent around 5.1 per cent of the university’s Australian equity holdings and approximately one per cent of its total investment holdings.
The University Council has also agreed to outsource the management of domestic equities to an enhanced index manager.
The selection of manager will include an assessment of their ability to meet the university’s socially responsible investment requirements, ANU said.