The Australian National University's boss doesn't feel bullied over a share divestment decision Prime Minister Tony Abbott has labelled "stupid".
Vice-chancellor Ian Young says he has been amazed by the interest in his university's decision to offload about $16 million worth of shares.
The university decided to shed its holdings in Iluka Resources, Independence Group, Newcrest Mining, Sandfire Resources, Oil Search, Santos and Sirius Resources for ethical reasons - representing just a couple of per cent of its total holdings.
Professor Young told a senate committee on Wednesday it was a fairly minor decision in the scheme of things, not a statement about climate change.
"I have been completely amazed by the level of media interest in this," he told the hearing in Canberra.
He thought there was some misunderstanding that ANU had sold all its shares in fossil fuels, which was not the case.
The decision was attacked by several federal ministers including Mr Abbott, who said the government should be free to criticise "stupid decisions".
Prof Young declined to comment on the prime minister's words.
"I don't believe the university has been bullied," he said.
"I am concerned that elements of the media have applied pressure to the institution but I have broad shoulders."
Prof Young didn't report the divestment to Education Minister Christopher Pyne as it was not a significant decision as defined by legislation.
"If we informed the minister every time the university made a change in its investment strategy of one or two per cent of its entire share portfolio ... I think I'd be in the minister's office every single hour of the day."
He said the shares were "not the stellar performers" in the university's portfolio and had in fact dropped in value by 25 per cent since the university bought them.
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