OUSU rejects ‘immoral’ UBA £8,000

OUSU will reject £8,000 in advertising revenue from UBS next year in protest at the company’s links to the Sudanese government.UBS has come under extensive criticism over its assistance in launching PetroChina, a subsidiary of the China National Petroleum Company, on the Shanghai stock exchange. The CNPC provides financial support to the Sudanese government and military.The student union is seeking alternative advertisers for the Oxford and Cambridge Careers Guide 2008. The Oxford Student will also avoid using UBS advertisements from Michaelmas 2008. UBS has used both publications in the past for its graduate recruitment.Responding to the vote, Lincoln student and Aegis Trust Student Chair Mark Darby said, “We’re very pleased that OUSU is taking a stand against immoral corporations. Students have always been at the forefront of ethical campaigns against multinational companies and we hope to keep it that way.But concerns have been raised about the financial implications of the move, which has the potential to leave a substantial hole in OUSU’s budget for next year. OUSU’s Vice- President of Finance, Rich Hardiman, nevertheless played down the importance of the loss of income, stressing, “These things are always under review – the ideal situation is that they stop underwriting genocide.UBS declined to comment directly on OUSU’s decision but reiterated previous denials of any direct link to the situation in Darfur. The company’s website boasts a substantial section on corporate responsibility and claims, “We take human rights standards into account when vetting potential clients.” Amnesty International has already dismissed the distinction made by UBS between PetroChina and the CNPC as a “legal fig leaf.”by James Stafford