The Australian National University says it will no longer invest in weapons companies after a review of its investment policy which attracted almost 900 submissions from staff, students and alumni.
On Tuesday, a resolution made by the 15-member ANU Council stated the university's long-term investment pool would not invest in "controversial weapons manufacturers and civilian small arms manufacturers".
The announcement comes nearly five months after students set up camps inside the university campus protesting Israel's ongoing military actions in Gaza. One of their demands was that the ANU cut ties with arms companies.
The university announced in June it would review its socially responsible investment policy.
ANU's vice-chancellor, Professor Genevieve Bell, said the university community had increasingly drawn attention to investment in companies profiting from arms production and sales.
"We have listened to that feedback from our community," she said on Tuesday.
The Vice-Chancellor noted the move to no longer invest in weapons companies was a result of feedback from hundreds of employees, students and alumni about its socially responsible investment policy.
The recent review led to updating the policy which was first adopted to ensure the university's investment activities were socially responsible, including considering potential social harms and benefits.
"The ANU Socially Responsible Investment Policy was sector-leading when it was introduced in 2013, but community expectations around what socially responsible investment means are evolving and expanding," professor Bell said.
"The university thanks those who participated in the review and we will continue to update our community as these changes are implemented," she added.
"Determining where we seek to invest is something we will review regularly moving forward. This is a significant decision, but it is important that we continue to think about how we reflect our values in our actions."
She said the ANU would start working with its investment managers to make sure the policy is followed.
"We will also seek to explore further the positive social benefits that can be pursued through investment activity, particularly in relation to gender equality, First Nations-led companies and companies that manage modern slavery risks," Professor Bell added.
The ANU Council's newest resolution adds to the university's existing investment screens relating to coal, gambling, pornography and tobacco.
Council members include chancellor and former foreign minister Julie Bishop, Professor Bell, seven members appointed by the minister, a deans and research school heads member, two academic staff members, one professional staff member and two student members (postgraduate, undergraduate).
