Over 200 students assembled on Senate House lawn on Monday to call for an ethical investment policy for the University.

The event, organised by CU Amnesty and CUSU Ethical Affairs, is the latest in a long-lasting campaign which has received “overwhelming” student support, according to CUSU ethical investment officer Mischa Foxell.

 “Almost a thousand people have signed our online petition, hundreds have sent actions cards to the Vice-Chancellor, and in a survey taken of 288 students 96% say they think the University should take ethical considerations into account when it makes its investments,” she said.

The demonstration called for the University to implement a policy that prohib its investment in companies who fail to uphold basic human rights, including those who manufacture torture equipment, give support to regimes that enable human rights abuses, or transgress labour rights.

As well as divestment from reprehensible corporations, the proposals would include screening and directly engaging with investment companies to encourage sustainable development, community investment and the promotion of human rights.

“The University’s investments are one of the biggest contributions internationally,” said Ali Masters, a postgraduate music student who was at the demonstration.

“When we look at recent international developments like the events in Gaza, we are seeing a situation which the University is funding through its investments.”

Gathering outside the Senate House with banners and loudspeakers, the students joined in chants for socially responsible investment, including “Oxfor d has one, why don’t we?”

Oxford adopted an ethical investment policy after sustained student-led campaigns.

Students also filled in “penny the Vice-Chancellor” cards, a CUSU campaign by which everyone sends a one pence piece to the Vice-Chancellor to encourage ethical investment.

CUSU’s ethical investment policy claims that by funding certain companies the University financially supports actions that defy its education mission.

“To be a great educational institution the University has to pay attention to the pressing issues of education, human rights, and sustainability,” said Foxell. “It is hypocritical for the University to profess to support these values whilst ignoring them when it makes its investments.”

A motion passed by CUSU at the beginning of Michaelmas was apparently hindered by bureaucracy and a freedom of information request, requesting the release of investment informati on, was refused.

In response to the demonstration the University said they had approved a statement of investment responsibility in June 2008, which was open to continual review. The paper stressed the difficulty of placing ethical considerations over maximising returns.

After many years of pressure, however, it seems that the campaign may well have achieved some gains from the protest, and the University has committed to a process of further review.

The finance and investment directors, Andrew Reid and Nick Cavalla, have arranged meetings with CUSU prior to the annual meeting of the executive committee.

“The review has been arranged for April and the CUSU ethical investment Officer has the date in her diary”, a spokesperson said.

Chaired by the Vice-Chancellor, the committee deals mainly with donations, but also looks at investments.

Foxell described the developments as “a fantasti c victory for legitimate student protest”. She said they gave the campaign “a massive drive to keep on campaigning vocally and to maintain our momentum”.