Finance and Procurement
Bangor University's investment portfolio is managed by UBS. UBS is committed to operating sustainably and to helping its clients invest in a manner that supports a positive social or environmental impact as well as producing good financial returns.
Bangor University has adopted UBS's sustainable investment strategy, taking into account the Sustainable Development principle i.e. that "we must act in a manner which seeks to ensure that the needs of the present are met without compromising the ability of future generations to meet their own needs". The strategy uses a combination of negative and positive screens to ensure that companies that may be harmful to society or the environment are excluded and to invest in businesses with responsible culture, practices and good governance.
Bangor University does not invest in controversial businesses, which derive more than 5% of their revenues from:
- Adult Entertainment
We do not exclude the possibility of including companies involved in fossil fuels from our portfolio, however such a company would only be included if it passed our criteria.
In this way Bangor University contributes to a Globally Responsible Wales.
Support Offered by UBS to Bangor University
UBS offers bespoke advice from highly qualified and experienced experts. In addition to managing the endowment portfolio, they will visit the University to engage with staff and students to explain how investment decisions are made and to answer any questions or concerns. The next visit will be during the Sustainability Carnival month, February 2018 (TBC).
Living Wage Employer
Bangor University is on the way to becoming a Living Wage employer. In 2015 we started our journey by paying the then Living Wage as a non-contractual supplement to the hourly rate, rather than becoming an accredited Living Wage employer.
Since then the Living Wage has increased every November (as designated by the Living Wage Commission), but our supplement has remained static and consequently a group of staff still remain at an hourly rate that is now below the current Living Wage (which is £8.45 currently). At the end of July 2017 Bangor University, along with all other Welsh Universities became a signatory to the Welsh Government's Code of Practice Ethical Employment in Supply Chains. Bangor University as a 'Universities Wales' member is therefore committing to paying the Living Wage Foundation's living wage to all directly employed HE staff by 2018/19.
Procurement strategy, performance & best practice
Bangor University’s Procurement Strategy 2015-2020 sees sustainability as a key strategic procurement objective in keeping with the University’s Strategic Plan.
The aim is to embed sound ethical, social and environmental objectives into the procurement process as standard”, says Nicola Day, Bangor University’s Director of Procurement.
The Procurement Strategy is supported by a number of sustainability performance measures that will be assessed on an annual basis, such as the number of sustainability risk assessments completed, the impacts identified and the outcomes delivered. Measures also include an assessment of spend with small and medium sized enterprises and spend with Welsh suppliers
As a member of the Welsh Public Sector, Bangor University adopts best practice as recommended by Value Wales (Welsh Government). The University has adopted the principles of the Welsh Procurement Policy Statement, which supports the achievement of the seven well-being goals for Wales as set out in the Well-being of Future Generations (Wales) Act (2015). One of the principles aims at the delivery of social, economic and environmental benefits through effective application of Community Benefits policy. Community Benefits plans are in place for the construction of the new Menai Science Park and the and the contractor is required to complete the Community Benefits Measurement Tool to record the various sustainability benefits that are achieved as part of the project.
Slavery & human trafficking
With the introduction of the Modern Slavery Act 2015, the University is required to produce a statement after 31st July 2016, identifying supply chains where there is a risk of slavery and human trafficking taking place and to note the steps being introduced to assess and manage the risk. The University will seek to adopt the Welsh Government’s planned Code of Practice on Ethical Employment in Supply Chains.
Procuring IT equipment
The University buys its IT equipment through HE Consortia Framework Agreements. Our desktops and notebooks are purchased via the National Desktop & Notebook Agreement, which is contracted by the London Universities Purchasing Consortium (LUPC). LUPC are members of Electronics Watch and therefore Bangor University can be assured that its ICT purchases are supplied from ethical sources.
Continual improvement in procurement
In line with the Procurement Strategy 2015-2020, the University’s procurement procedures are currently being revised to take account of the increasing importance being placed on sustainability, ensuring that sustainability risk assessments are completed for all key procurements and measuring the positive impacts our procurement has on the economy, the environment and the community.