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Vice-President for Social Responsibility Professor Nalin Thakkar discusses our University\u2019s response to the climate change challenge. <\/strong><\/p>\n I took on the role of Vice-President for Social Responsibility because I passionately believe in the unique ability of universities to change the world for the better through their research, innovation, and teaching, and by creating future leaders. <\/p>\n We already do many things extremely well, as reflected in our University\u2019s ranking (1st in Europe and 3rd globally) in the Times Higher Education Impact<\/a> table based on the United Nations Sustainable Development Goals. <\/p>\n But there are two challenges that we must address as a community that will characterise my tenure as Vice-President and where we can make a much greater impact: the environment and sustainability and equality, diversity and inclusion (EDI). <\/p>\n I will return to EDI in a future blog, but I want to say here that this is not an agenda that is about being kind or making allowances for people, although it is about fairness and equity. Rather, diversity will enhance the quality of our endeavours. If we want to excel as an organisation then we need to enable all our people, students and staff, irrespective of their background, gender, beliefs or other characteristics, to thrive and reach their full potential. When we fail to do this, we fail at all levels.<\/p>\n Tackling the climate crisis<\/strong> But as much as it is a challenge, it also represents an opportunity for universities like ours. The transition to a low carbon economy will require major research and innovation and an educated and skilled workforce. There will need to be significant changes to building stock, transportation, utilities and connectivity which will create new jobs and strengthen the economy.<\/p>\n Our University is uniquely placed to contribute to tackling the climate crisis through our core activities – research and teaching. We are already leading the way in a range of pioneering research programmes to advance sustainability including alternative sources of energy (hydrogen, bioenergy nuclear power, offshore wind power); smart energy systems; better batteries, new materials; more efficient manufacturing; improved waste management (to reduce methane emissions); and better land use. Similarly, we are strengthening teaching and learning in this area so that our students are environment and carbon literate, and well-placed to become responsible leaders of tomorrow. <\/p>\n But we also have to practice what we preach in our own operations. We have aligned ourselves with the City of Manchester\u2019s 2038 zero-carbon target<\/a> and are working with our partners to find an optimum, cost-effective and affordable pathway towards a zero-carbon campus.<\/p>\n We will all need to change our individual and collective behaviours \u2013 switching appliances off when not needed, using technology instead of travelling, and where travelling is necessary using low-carbon transportation such as trains wherever possible. <\/p>\n Decarbonising our investments<\/strong> Developed with the input of students and our own climate scientists, we are proposing to stop investing in companies that hold fossil fuel reserves and\/or are involved in extraction. <\/p>\n However, these account for only 3-5% of our total investments. Furthermore, most CO2 emissions do not arise from the direct activity of fossil fuel companies; they arise through the use of fossil fuels by others. So we are proposing to shift our investments from carbon inefficient companies to carbon efficient companies, thereby reducing the carbon intensity of our overall portfolio. This is a much bolder step and goes significantly beyond what those committed to divestment were asking us to do. <\/p>\n In the first stage, by the end of 2022, we will shift 99% of our equity investments away from fossil fuel reserve and extraction companies, and reduce the carbon intensity of our wider equity portfolio by 30%. In the second stage, we will further reduce the overall intensity of our investments as more attractive portfolios of carbon efficient companies are marketed for investors. We have set a target of net zero by 2038 in alignment with the net zero target of the City, but we expect to progress faster.<\/p>\n Pioneering spirit<\/strong> This investment stance also takes account of risks of transition to a low-carbon economy. It is likely that in the next few years there will be a need for much higher carbon pricing and taxes which may significantly negatively impact on the value of fossil fuel companies. There are also potential advantages of being early movers into areas such as renewable energy. I hope you feel this is a sensible way to proceed, but whatever your views, please do take time to let us know through the consultation. <\/p>\n My work to-date with colleagues, students, Board members and external partners gives me a great deal of optimism that, together, we can approach this as an opportunity with a pioneering spirit. Even though the challenges are significant and shouldn\u2019t be underestimated, I am confident that our University can make a significant contribution to providing solutions for the climate crisis. <\/p>\n Nalin Thakkar, Vice-President for Social Responsibility<\/p>\n Further information:<\/strong> [\/et_pb_text][et_pb_post_nav _builder_version=”3.17.6″ prev_text=”Previous” next_text=”Next” in_same_term=”off” locked=”on” \/][et_pb_comments _builder_version=”3.17.6″ custom_button=”on” button_text_color=”#ffffff” locked=”on” \/][et_pb_text admin_label=”Related posts” _builder_version=”3.17.6″ locked=”on”]<\/p>\n [\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][\/et_pb_column][et_pb_column type=”1_3″][et_pb_sidebar admin_label=”Subscribe” _builder_version=”3.17.6″ area=”et_pb_widget_area_3″ locked=”on” \/][et_pb_sidebar _builder_version=”3.17.6″ area=”sidebar-1″ show_border=”off” locked=”on” \/][\/et_pb_column][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" The climate crisis is the most serious threat the planet faces today. All other issues that we worry about, and try to find solutions for \u2013 if I can pinch a line from Humphrey Bogart in Casablanca \u2013\u2018don\u2019t amount to a hill of beans\u2019 if we cannot tackle the climate crisis.<\/p>\n","protected":false},"author":521,"featured_media":3234,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":" [et_pb_section bb_built=\"1\" fullwidth=\"off\" specialty=\"on\" _builder_version=\"3.17.6\"][et_pb_column type=\"2_3\" specialty_columns=\"4\"][et_pb_row_inner admin_label=\"Row\"][et_pb_column_inner type=\"4_4\" saved_specialty_column_type=\"2_3\"][et_pb_post_title _builder_version=\"3.17.6\" featured_placement=\"above\" locked=\"on\" \/][et_pb_text _builder_version=\"3.17.6\"]<\/p> When I\u2019m out and about meeting staff I hear much debate about the why, what, when and how of change in our University. I wanted to share my thoughts on this often contentious topic \u2013 and hear your views too.<\/p> Early in 2020 we will launch our University\u2019s new vision and strategic plan \u2013 Our future. In order to fulfil Our future we need to ensure that we are in a financially sustainable position so that we have the funds to invest in the new staff, facilities and infrastructure which will be needed to bring our plans to life.<\/p> Our Financial Statements<\/a> for 2018\/19, which have been published following approval by the Board of Governors, confirm that more than 95% of our \u00a31.1bn income is spent on our core goals - on our staff and our students - to deliver research, education and social responsibility; with the remainder invested in the long term sustainability of our University. You can find a summary<\/a> of the Financial Statements on StaffNet.<\/p> However, this is a testing time for UK universities, due to the many external factors that have an impact on us - current home tuition fees are falling in real terms, whilst our costs (not just pay but non-pay too) are increasing. There are further and even greater tuition fee funding risks outlined in General Election manifestos as well as a range of Brexit-related risks that could affect our operations. The Office for Students (OfS) demands that we demonstrate both value for money for our students and our financial sustainability (in the sense of being able to invest to deliver our ambitious strategy, rather than survival). There are, of course, also ongoing unresolved national issues around pay and the continuing challenges around funding pensions in the higher education sector.<\/p> Our Financial Statements show an improved operating surplus (3.7% of income compared to \u00a324.7m (2.3%) in 2017\/18), with a rise in income from tuition fees, education contracts and research. As I mentioned earlier, we re-invest the surplus we achieve each year in activity in line with our strategy. Recently our funds have been used to create some new academic and Professional Services posts; to invest in key infrastructure including IT; to invest in some new buildings like our student accommodation at Unsworth Park; to improve the student experience by funding more full-time Residential Life staff and to upgrade a range of buildings and research and teaching spaces and resources. Increasingly it is also invested in environmental sustainability and meeting our ambitious carbon targets. So even when we are making difficult decisions in some parts of the University we continue to invest our surplus.<\/p> Whilst we have reported an operating surplus, our Board of Governors expects us to deliver a much larger surplus than this (at least 5%) if we are to be sustainable in the long-term. Our strategic change programme (including IT Modernisation<\/a>, the Student Experience Programme<\/a>, and the Research Lifecycle Programme<\/a>), alongside our continuous improvement plans, will ensure that we create the financial headroom to invest in people and facilities. The strategic change programme will also enable us to embrace new technologies and new ways of doing things that better support all our staff and students to be the best that they can be.<\/p> Yes, this means that some individual roles will change. New roles (some that we haven\u2019t yet identified) will be created and some roles will no longer be required. I appreciate that this will cause some uncertainty and where that is the case we will do everything we can to support staff, but the alternative is that we never change anything. If we fail to take advantage of advances in technology and develop more joined-up ways of working we will ultimately find ourselves outdated in the eyes of future students, funders and other stakeholders. Staff want to work for a progressive and successful institution, of which they can be proud. This means we cannot stand still.<\/p> When I talk to staff and students I often hear their frustrations about how difficult it be can be to get some straightforward things done, grappling with paper-based, manual and repetitive processes, on outdated systems and infrastructure, all of which serves to increase staff workloads. Everyone wants to do a good job, but regularly feel that our world-class status is earned in spite of our internal systems and processes, not because of them.<\/p> To deliver our new vision and strategic plan we will need to embrace new opportunities and face challenges with courage and determination. That will sometimes mean we have to make tough decisions and no-one is claiming it will be easy or that mistakes will not be made along the way. But where we do have tough choices to make we will commit to implementing changes fairly and with compassion to support the wellbeing of all our colleagues.<\/p> [\/et_pb_text][et_pb_post_nav _builder_version=\"3.17.6\" prev_text=\"Previous\" next_text=\"Next\" in_same_term=\"off\" locked=\"on\" \/][et_pb_comments _builder_version=\"3.17.6\" custom_button=\"on\" button_text_color=\"#ffffff\" locked=\"on\" \/][et_pb_text admin_label=\"Related posts\" _builder_version=\"3.17.6\" locked=\"on\"]<\/p> [related-posts-thumbnails]<\/p> [\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][\/et_pb_column][et_pb_column type=\"1_3\"][et_pb_sidebar admin_label=\"Subscribe\" _builder_version=\"3.17.6\" area=\"et_pb_widget_area_3\" locked=\"on\" \/][et_pb_sidebar _builder_version=\"3.17.6\" area=\"sidebar-1\" show_border=\"off\" locked=\"on\" \/][\/et_pb_column][\/et_pb_section]<\/p>","_et_gb_content_width":"","_exactmetrics_skip_tracking":false,"footnotes":""},"categories":[11],"tags":[],"class_list":["post-3161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-slt"],"_links":{"self":[{"href":"https:\/\/blogs.manchester.ac.uk\/viewpoint\/wp-json\/wp\/v2\/posts\/3161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.manchester.ac.uk\/viewpoint\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.manchester.ac.uk\/viewpoint\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.manchester.ac.uk\/viewpoint\/wp-json\/wp\/v2\/users\/521"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.manchester.ac.uk\/viewpoint\/wp-json\/wp\/v2\/comments?post=3161"}],"version-history":[{"count":5,"href":"https:\/\/blogs.manchester.ac.uk\/viewpoint\/wp-json\/wp\/v2\/posts\/3161\/revisions"}],"predecessor-version":[{"id":3231,"href":"https:\/\/blogs.manchester.ac.uk\/viewpoint\/wp-json\/wp\/v2\/posts\/3161\/revisions\/3231"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blogs.manchester.ac.uk\/viewpoint\/wp-json\/wp\/v2\/media\/3234"}],"wp:attachment":[{"href":"https:\/\/blogs.manchester.ac.uk\/viewpoint\/wp-json\/wp\/v2\/media?parent=3161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.manchester.ac.uk\/viewpoint\/wp-json\/wp\/v2\/categories?post=3161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.manchester.ac.uk\/viewpoint\/wp-json\/wp\/v2\/tags?post=3161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nReturning to the issue of environmental sustainability, the climate crisis is the most serious threat the planet faces today. All other issues that we worry about, and try to find solutions for – if I can pinch a line from Humphrey Bogart in Casablanca \u2013\u2018don\u2019t amount to a hill of beans\u2019 if we cannot tackle the climate crisis. Many of our staff and students rightly see the climate emergency as nothing less than an existential threat to our very civilization. <\/p>\n
\nWe can also support the transition to a zero-carbon economy through the way our University invests its money. You may have seen the draft revised University Socially Responsible Investment Policy<\/a>. It is important to appreciate that this policy has been revised specifically in response to the climate crisis, reflecting the concerns expressed by our students, staff, alumni and Board members. I would encourage you to give your feedback on this revised policy<\/a> before Monday 23 March 2020.<\/p>\n
\nThis investment stance is not an emotional response but it is absolutely aligned to our University\u2019s values<\/a>. I am not na\u00efve enough to think that our disinvestment will directly reduce carbon emissions since others will buy the shares we sell. But it sets a courageous example that I\u2019m certain others will follow (we have already been asked to talk about this to other universities) and which has the potential to drive industries towards carbon efficiency and renewable energy. <\/p>\n
\nSocially Responsible Investment Policy Consultation – FAQs<\/a><\/p>\nRelated<\/h1>\n
Related posts:<\/h3>
Nancy Rothwell: Placing Manchester at the heart of our University<\/h2><\/div><\/div><\/a>
Colette Fagan and Sarah Sharples: Making the Leap: Accelerating the path from research excellence to...<\/h2><\/div><\/div><\/a>
Danielle George: Blended and flexible learning \u2013 a look back and the road ahead<\/h2><\/div><\/div><\/a><\/div>
Improving our financial performance will help to deliver our ambitious future plans, but we must also increase our capacity to create the funds and time to invest in our core goals. One of the ways we can do this is by changing what we do and how we do things.<\/p>Related<\/h1>