Cheng Yu Tung Building

The new Cheng Yu Tung Building sets a benchmark for best practice in environmentally sustainable building management. In developing this new part of the College, we used high performance, low carbon materials from sustainable and recycled sources. The building is heated using renewable energy technologies, such as ground source heat pumps and photovoltaic panels, in line with the College’s strategy to move towards net zero carbon emissions.The new building demonstrates what is achievable as part of our overall environmental strategy, giving the College a strong foundation on which to enhance the sustainability of all our operations over the next five years.

Decarbonisation

We will continue to address the direct impact our activities have on the environment by further developing our programme of carbon reduction improvements, with actions covering scope 1, 2 and 3 emissions. This work includes initiatives to minimise energy consumption – such as completing the insulation upgrades at Steven’s Close and beginning a similar project at Herbert Close – and installing heat monitoring systems across our buildings. You can read more about the actions we have already taken towards decarbonisation here.

Biodiversity

To mitigate for changes to the UK climate, we will review the types and forms of planting in all four College quads, with a view to introducing more perennials and drought-resistant species. The sustainable planting programme at Steven’s Close will continue, as will our support of student-led environmental initiatives, and those of the University, such as the ‘Be Energy Friendly’ campaign and Green Action Week. You can read more about the actions we have already taken towards biodiversity here.

We will also address the impact of our activities on sustainability in the wider world, most importantly in our role as an institution with the mission to educate future generations. We will support progress towards achieving net zero emissions of carbon dioxide, both in the UK and globally, by means of our investment policy, and we will also explore opportunities to inform wider public decision-making on issues around sustainability.

The mandate of the College’s investment manager, as well as that of our internal team that manages the College’s estates, are aligned with these objectives. Accountability and transparency of reporting, will be essential features of the Strategy and consequently we will provide an annual report on our environmental impacts and progress towards our sustainability goals.

Investments

The principal objective of our Investment Strategy is to preserve and preferably grow the real value of our endowment over the long term, having regard for our expenditure rule and the need to protect the value of College assets against erosion by inflation. We recognise the
growing importance of environmental, social and governance (ESG) criteria when selecting and managing investments.

Investments are made on a total return basis; this means that there is no preference for capital growth or income. Together with our property holdings, we invests in funds rather than making direct investments. We expect all fund managers to adhere to the United Nations principles of responsible investment, to have an ESG policy, and to confirm that ESG criteria are included in their investment decisions.

Our commitment to achieving overall net zero status by 2035 will be reflected in our investment portfolio, where we will seek to achieve net zero by 2030 at the latest. Having regard for our financial return objectives, the Strategy has three components:

1. Decarbonise

This will involve reducing exposure to companies that have the highest carbon emissions and disinvesting from those companies that promote or extract fossil fuel reserves before the end of the current Strategic Plan period in 2027.

2. Invest for positive impact

Where appropriate, we will invest in new companies that seek to have positive environmental impacts in order to speed up the transition to a low carbon economy.

3. Engage

Either through our investment manager, or directly, we will engage with our investment partners to encourage the low-carbon transition of economic sectors in line with science and in consideration of associated social impacts.