Institution of Mechanical Engineers Update on financial links with fossil fuels and arms corporations

The report by Scientists for Global Responsibility (SGR) finds that the Institution of Mechanical Engineers (IMechE) lacks transparency regarding its investments, making it impossible to determine the full extent of its financial ties to fossil fuels and arms. While IMechE has implemented some internal sustainability measures, such as LED lighting and travel reduction, it maintains corporate links to arms companies like Meggitt and Rolls Royce, and fossil fuel company Fugro, through its Company Based Registration scheme. SGR argues these links contradict IMechE's professional code of conduct and its role as a climate change thought leader, noting that several peer organisations have already divested from such industries.

• The Institution of Mechanical Engineers (IMechE) lacks a transparent ethical investment policy, and SGR found no evidence of such a policy in the Institution's online documentation.
• IMechE's investments are managed by Schroder & Co, BlackRock Investment Managers, and CCLA Investment Management, but the Institution does not disclose the specific funds or assets held, limiting the ability to track investments in arms or fossil fuels.
• Through its 'Company Based Registration' scheme, IMechE maintains formal links with corporations in the arms sector, specifically Meggitt and Rolls Royce, as well as the fossil fuel company Fugro.
• SGR highlights a specific ethical and legal concern regarding Rolls Royce's role in manufacturing the UK's nuclear-armed Dreadnought submarines, noting that nuclear weapons are illegal under the Treaty on the Prohibition of Nuclear Weapons (TPNW) as of January 22, 2021.
• IMechE has taken some operational steps toward sustainability, including converting 90% of its headquarters' lighting to low-energy LEDs and committing to report against the Streamlined Energy and Carbon Reporting (SECR) policy from January 2021.
• Several peer professional and medical organisations have adopted stricter policies than IMechE, with some fully divesting from fossil fuels and arms, including the Royal Meteorological Society, the Geological Society, and the British Medical Association.

APA

Scientists for Global Responsibility (2022). Institution of Mechanical Engineers Update on financial links with fossil fuels and arms corporations. https://www.sgr.org.uk/sites/default/files/2022-03/IMechE_progress_report.pdf

Chicago

Scientists for Global Responsibility. Institution of Mechanical Engineers Update on financial links with fossil fuels and arms corporations. 2022. https://www.sgr.org.uk/sites/default/files/2022-03/IMechE_progress_report.pdf.

Wikipedia

{{cite report |author=Scientists for Global Responsibility |title=Institution of Mechanical Engineers Update on financial links with fossil fuels and arms corporations |date=March 2022 |url=https://www.sgr.org.uk/sites/default/files/2022-03/IMechE_progress_report.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{scientistsforglobalresponsibility2022institution, author = {{Scientists for Global Responsibility}}, title = {{Institution of Mechanical Engineers Update on financial links with fossil fuels and arms corporations}}, institution = {Scientists for Global Responsibility}, year = {2022}, month = mar, url = {https://www.sgr.org.uk/sites/default/files/2022-03/IMechE_progress_report.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }