The Groningen University Fund (GUF) has invested almost 100,000 euros in companies involved in the manufacture of weapons, like firearms, missiles and ammunition, writes the Financieele Dagblad Wednesday. The financial daily also found that the GUF had some funds invested in tobacco and fossil fuels.
GUF is an independent foundation with a capital of 10 million euros. Founded in 1893 by a group of Groningen University professors, the fund aims to promote the study at the university “in the widest sense”. Every year, it subsidizes study-related trips by students abroad and other scientific or cultural pursuits by students. It has also given money to help organize scientific conferences, symposia or workshops in Groningen and the northern Netherlands.
All the GUF’s board members are affiliated with the RUG. They may have been unaware of the fact that some of the fund’s money is invested into companies that profit from making weapons, non-renewable fossil fuels or produce health-damaging products, the Financieele Dagblad points out.
At the moment, the fund appears to be focused on maximizing returns on money in its care and does not seem to have a policy of ethical screening for its investments.
