Sustainable investment policy

Our investment approach

Cyprus University of Technology takes decisions regarding investments and allocation of its resources responsibly, with integrity and transparency taking into account the 17 Sustainable Development Goals (SDGs) of the United Nations. According to Article 34 of the Cyprus University of Technology Legislation of 2003 (198(I)/2003): “The moneys held in trust by the University are either be deposited in a current account or a deposit account in any bank, or placed in investments, in which the Commissioner may, based on the Law on Commissioners, invest the funds of the trust, or, with the approval of the Council of Ministers, be placed in other investments, which the Minister of Economy may determine generally or specifically.”

The Sustainable Investment Policy has been established to enable the University to take a holistic approach towards any investment which is concerned only with Sustainable Development and is aligned with the 17 SDGs – both the type of investment and its management processes, as a whole. At the same time, the investment decisions are in line with the above provision of the Law.

The need for a Sustainable Investment Policy

Given that the University is a publicly funded organisation, the possibility of investing funds from its own budget is limited. Should the need arise, any investment must be based on a Sustainable Investment Policy that allows the appropriate and responsible management of the state budget.

Investment forms

The University may invest in areas related to research and in particular in the following:

Centers of Excellence

Centers of excellence are non-profit companies, without equity capital, whose purpose is to conduct and publish high-level scientific research activities and the development of technological or other innovations. The University, as a member of these companies and on the basis of its commitment to the European Commission, annually provides co-financing to the Centers. These Centers have a Green Development Policy and their activities are consistent with the University’s mission and the 17 SDGs.

Spin-offs

Spin-offs are established by the academic or research staff of the University with the aim of commercialising the research results and the knowledge produced by the research centers and/or the University. In these companies, the University can participate with a share capital percentage, according to the provisions of the relevant legislative framework. The activities of such companies promote the interconnection of research and innovation and are consistent with the 17 SDGs. The University’s involvement in the establishment and/or participation in such companies is aimed at promoting healthy competition and excellence, is covered solely by non-governmental resources, and any return on the University’s investment is utilised for the benefit of the University.

This Policy was approved during the 226^th meeting of the Senate, dated 04/02/2024.