Chamber
Plenary, 26 Feb 2003
26 Feb 2003 · S1 · Plenary
Item of business
Ethical Investment
The normal custom is to congratulate the member who has secured the debate, but tonight I would rather congratulate People & Planet, which obviously has tremendous political clout if it got Robin Harper elected. I may be accused of being cynical, but I wonder how many members from the Edinburgh area are seeking the student vote by attending the debate.
I congratulate the University of Edinburgh on its openness. However, a debate is about questioning and expressing different views. I do not think that anyone can argue against ethical investment, as we all have a conscience and the responsibility to know, as a deliberate policy, how our money is being spent.
The University of Edinburgh court has a duty to get a return on its fund. It uses professional fund managers, so presumably merely gives an indication of the area and type of investment that it would like to make and leaves the matter to the fund managers.
I take issue with Angus MacKay. I do not think that the University of Edinburgh's international reputation will be greatly affected by its ethical policy for a fund of £160 million. More important for the university's reputation is the quality of the education that it gives to those people, young and older, who study there. It is important that the university receives support so that it can continue to be a world-class centre for education.
I congratulate the University of Edinburgh on its openness. However, a debate is about questioning and expressing different views. I do not think that anyone can argue against ethical investment, as we all have a conscience and the responsibility to know, as a deliberate policy, how our money is being spent.
The University of Edinburgh court has a duty to get a return on its fund. It uses professional fund managers, so presumably merely gives an indication of the area and type of investment that it would like to make and leaves the matter to the fund managers.
I take issue with Angus MacKay. I do not think that the University of Edinburgh's international reputation will be greatly affected by its ethical policy for a fund of £160 million. More important for the university's reputation is the quality of the education that it gives to those people, young and older, who study there. It is important that the university receives support so that it can continue to be a world-class centre for education.
In the same item of business
The Deputy Presiding Officer (Mr George Reid):
SNP
We come to our members' business debate, on motion S1M-3723, in the name of Angus MacKay, on ethical investment.
Motion debated,
That the Parliament notes the work of Edinburgh University People and Planet group and the decision of the Edinburgh University Students' Association to endo...
Angus MacKay (Edinburgh South) (Lab):
Lab
I am delighted to have the opportunity to raise the issue of ethical investment in the chamber today. The fact that I am able to do so is testimony to the ha...
The Deputy Presiding Officer:
SNP
Six members have indicated that they would like to take part in the debate. That will allow speeches of about four minutes.
Robin Harper (Lothians) (Green):
Green
I must declare two interests. First, I am rector of the University of Edinburgh and will be for another 10 days. Secondly, my entire investment portfolio, su...
The Deputy Presiding Officer:
SNP
You have one minute.
Robin Harper:
Green
I will not need even one minute, Presiding Officer. I congratulate Angus MacKay on his motion, I congratulate the People & Planet group and I congratulate th...
Sarah Boyack (Edinburgh Central) (Lab):
Lab
I congratulate Angus MacKay on his success in securing the debate. At this stage of the parliamentary session, it is increasingly difficult to get a motion o...
Fiona Hyslop (Lothians) (SNP):
SNP
I also congratulate Angus MacKay on securing tonight's debate. In addition, we should extend our congratulations to People & Planet on its campaign and we sh...
Mr David Davidson (North-East Scotland) (Con):
Con
The normal custom is to congratulate the member who has secured the debate, but tonight I would rather congratulate People & Planet, which obviously has trem...
Brian Fitzpatrick (Strathkelvin and Bearsden) (Lab):
Lab
Will the member take an intervention?
Mr Davidson:
Con
One moment, please.I came to the chamber with a blank sheet of paper just to listen, because I am puzzled about what the minister will say when he sums up. T...
Brian Fitzpatrick:
Lab
The member seems to subscribe to the old paradigm that an ethical investment policy is contradictory and that the only ambition of the university should be t...
Mr Davidson:
Con
Both can be done together quite successfully. However, the international reputation of the University of Edinburgh—or the decision of a student who is desper...
Susan Deacon (Edinburgh East and Musselburgh) (Lab):
Lab
I will return to the convention of congratulating the member who has secured the debate, not least because constituency members are lobbied about issues and ...
Donald Gorrie (Central Scotland) (LD):
LD
Those who have pricked our conscience with the motion are to be congratulated. We could all examine our own activities. I have modest, ethical individual sav...
Brian Fitzpatrick (Strathkelvin and Bearsden) (Lab):
Lab
I, too, congratulate Angus MacKay on lodging the motion, which I am happy to support. I suppose that I should get the niceties out of the way and refer to my...
The Deputy Presiding Officer:
SNP
Indeed he can. To respond to the debate, I call Lewis Macdonald.
The Deputy Minister for Enterprise, Transport and Lifelong Learning (Lewis Macdonald):
Lab
I am pleased to join those who have welcomed the lodging of the motion and who have congratulated Angus MacKay on securing the debate.Ethical investment is r...
Brian Fitzpatrick:
Lab
Does the minister accept that he and his ministerial colleagues have their hands on a number of key policy drivers? They can support some of the largest empl...
Lewis Macdonald:
Lab
Absolutely. I want to emphasise that, in developing our approach to corporate social responsibility and continuing to promote it, we already have a number of...
Meeting closed at 17:39.