Academic freedom: Do we get enough choice in what our degrees cover?
→ Comment, p.17
Remember, remember:
The Whitepepper:
Delving into Cambridge’s radical activist past
Stars, surrealism, and a quirky vintage twist
→Features, p.10–11
→Part 2, p.10–11
The
05 November 2015 Vol. 17 Michaelmas Issue 5 www.tcs.cam.ac.uk
New pressure on University divestment
Cambridge Student
Girton in £1 million conference shortfall Olly Hudson Deputy Investigations Editor
College bedsheets used in banner drop stunt Stevie Hertz News Editor
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tudents protested on Wednesday against the University of Cambridge’s investment in fossil fuels. The students, from the newly relaunched Zero Carbon Cambridge society, draped painted bed sheets from King’s, Clare and Garret Hostel Bridge (commonly known as Orgasm Bridge), in an attempt to draw more attention to the issue of divestment. However, few students passed through the protest, which was quickly shut down on Clare Bridge by the College’s porters. Magdalene porters also arrived after reports that their students were involved in the protest. They told students that they were “bringing this College into disrepute” and that they might report them to their College dean. At least one of the sheets that were used were owned by Magdalene College. The slogans on the bedsheets included “Cambridge clean up your act”, “Fossil free future” and “Where does £5bn go?” Many spectators seemed unimpressed with the protest, with one American tourist saying “we didn’t really know what [the banners] meant, but at least there’s students on every bridge who can talk to us.” Yet while one passing punting guide shouted “It’s the University not the city, that’s two different things, here,” another called out their support. The University of Cambridge’s endowment currently stands at £2.8 billion while the University is pledged to act with “selflessness”.
Despite this, the Statement of Investment Responsibility allows the University to “balance against its primary responsibility considerations of the ethical nature of investments.” The University is currently carrying out a wide-ranging investigation, between officials, academics and students, into how the endowment is invested. It is believed to include investments into fossil fuels. Zero Carbon Cambridge has also launched a petition for fossil fuel divestment, which gained over 800 signatures in 24 hours. The society commented on the protest: “Just two weeks ago the University issued a video addressed to the entire world, presenting donations to Cambridge as an investment in the future. If the world wants to invest in it, Cambridge University must return the favour, and invest in a sustainable future.” The protest by Zero Carbon comes after an open meeting at Magdalene College on Monday, in which the students voted for the “creation of a forum” to talk about investments within the College, where an ethical investment policy can be created. One student, Anna Fruehauf, was not pursuaded by the protest, believing that the University should continue to invest in fossil fuels, commenting, “Maybe it’s more efficient to reform inside, instead of outside of the system.” Editorial Comment page 15 →
Banners were dropped from three Cam bridges
The Cambridge Student can exclusively reveal that some Cambridge colleges lost over a million pounds on conferencing arrangements in the period of 2011–14 whereas others made a profit of over £900,000. However, by a quirk of accounting, some colleges appear to be running both a profit and a loss simultaneously, depending on whether or not costs associated with the upkeep of buildings are included. Girton College recorded a loss of £1,026,000 in the financial year ending in 2014 while recording an average loss of just under £1 million during the previous three years. Homerton boasted the strongest profits across the 2011–2014 period with an average of £592,789 while also demonstrating the biggest single profit across the period of £927,089 for the financial year ending in 2013 – a net relief of almost £2 million with Girton. Of the colleges who responded to a TCS request under the freedom of Information Act, Downing relied on conferencing for the largest proportion of its annual gross income – some 20.13 in 2013/14. TCS’s findings clearly show a number of colleges recording losses specifically on conferencing alone. Of the colleges who responded to the request, Christ’s, Downing, Emmanuel, Selwyn, Lucy Cavendish, Magdalene, Peterhouse, and Wolfson demonstrated average losses across the 2011–2014 period. However, when contacted by TCS, Nick Downer, the bursar of Selwyn College, suggested that the net figures as presented in college accounts did not necessarily paint the full picture: “Our conference business more than covers the direct costs...” Image: Jack May Continued on page 4 →