Responsible Investment Framework
Wolfson College, Oxford is a charity which aims to advance study, learning, education and research. The Trustees invest the College’s charitable endowment over the long term to provide income to fund its activities. In managing those investments, the Trustees draw on the expertise of an Investment Committee, which includes independent external advisers, and employs professional investment managers to manage the investments on a day to day basis. This statement sets out some of the principles considered in managing financial capital in the wider context of society and the environment.
Responsible Investment Framework
Alongside securing the best financial return over the long term, the Trustees take account of material environmental, social or governance factors. As a long-term investor, the broader concept of sustainability is as important as the need to control risks, including the security, quality, liquidity and profitability of the portfolio.
In making investment decisions, the professional investment managers employed by the College are required to incorporate environmental, social and governance considerations and sustainability risk.
The Trustees recognise that the growing threat of climate change requires far-reaching action to address man-made carbon emissions. The College has divested from and placed a restriction on all future direct investment in any fossil fuel exploration and extraction companies (including coal, oil and gas, exploration and extraction).
In addition, the professional investment managers employed by the College are required to exercise voting rights to participate in the stewardship of investee companies, engaging where appropriate to encourage net zero business plans and adherence with the relevant best-practice codes and guidelines for each market. Stewardship includes assessing, addressing and monitoring material risks associated with environmental and social issues and how principal adverse sustainability impacts are managed.
Wolfson also complies with Oxford University’s Ethical Investment Restrictions, which includes the following restrictions:
- “Direct investment in companies which manufacture arms that are illegal under the Munitions (prohibitions) Act 2010 or the Landmines Act 1998 and / or are prohibited under the UN Convention on Certain Conventional Weapons (CCW) and any other relevant international arms treaties to which the UK is a signatory and has ratified.
- Direct investments in tobacco companies (as defined by UK Cancer Research).
- Direct investment in any fossil fuel exploration and extraction companies, including; coal, oil and gas exploration and extraction; in addition to a ban on thermal coal and oil sands.
- Investment in funds which invest primarily in the above listed categories of company.”
The Governing Body recognises that many of these issues evolve over time and reviews this framework periodically.
Reviewed June 2026
