York St John University prioritises ethical investment with move to socially responsible banking

Aligning financial commitments with its social justice and sustainability ethos, the University has recently created a new relationship with Unity Trust Bank.

Unity Trust Bank only uses customer deposits to lend to organisations that make a positive difference to communities across the UK. Their lending commitments include supporting organisations delivering services in areas of high deprivation and helping people into affordable homes.

The investment responds to the University’s Ethical Framework for Financial Transactions (EFFT), which sets out an approach to investment, funding and strategic relationships that ensures decisions taken by the University are consistent with its mission and values.

Chief Operating Officer Dr Rob Hickey said:

“Our goal is to ensure that every decision not only generates financial benefits but also contributes to positive social and environmental outcomes.

“Our University for Social Impact Strategy sets out our ambition to be sector-leading in environmental sustainability. It’s only right that we place our funds in a bank which does not invest in fossil fuel industries and instead, aligns its impact with the United Nations’ Sustainable Development Goals”.

York St John University already has a ‘no waste to landfill’ policy, extensive recycling processes, solar panels across its campuses, and a huge range of biodiversity initiatives. It was the first university in the country to agree a power purchasing agreement directly with a wind farm. Its catering service was awarded a Food for Life silver accreditation from the Soil Association for the sustainable measures it takes including preparing 6,000 meals a day using locally-sourced ingredients.

It was recently named the ‘University of the Year for Social Inclusion’ in the Times and Sunday Times’ ‘Good University Guide 2025’ in recognition of the work it does to ensure that degree level education and graduate jobs are accessible to all.

Joe McCarthy, Director of Finance, said: “Students, staff and governors of York St John care deeply about creating a fairer, more sustainable future. As a higher education institution with strong values, we actively sought solutions to shift finance away from unethical investment.

“We are delighted to have created a new deposit account with Unity Trust Bank, which does not invest in fossil fuel industries, and where savings deposits and lending help organisations to make a positive difference to communities.”

Ethical investment

The University is committed to ensuring that it makes investment decisions on a

responsible basis. It will extend a strong preference to sectors that make a demonstrable social impact and use its influence as an investor to encourage partnerships with companies aligned with environmental, social and governance priorities.  The University will also avoid investment partners that risk harming the Institution’s reputation by association, even if they have scope to be financially beneficial.

This approach means that the University will not transact with organisations or partake in activities where the primary part of the business involves:

• The manufacture and sale of armaments to non-governmental military regimes;
• Unacceptable greenhouse gas emissions or environmental damage;
• The extraction of fossil fuels including but not limited to coal, oil, and natural gas;
• Institutional violations of human rights, including modern slavery, forced labour and the abuse of workers’ rights;
• Discrimination against the rights of individuals in relation to race, gender, sexuality, or any other protected characteristic, and including the exploitation of women and girls;
• The manufacture and sale of tobacco products;
• High-interest rate lending;
• Gambling or industries which benefit from the proceeds of gambling;
• Gross corruption or financial crimes; and
• Other serious violations of fundamental ethical norms.

University staff can access the Ethical Framework for Financial Transactions on the intranet.

Read more about the University for Social Impact Strategy.