Oxford University is on the cusp of a significant transformation as one of its graduate colleges prepares to undergo a name change. Linacre College will be rebranded Thao College in recognition of a major £155 million donation from Nguyen Thi Phuong Thao, Vietnam's richest woman and chair of Sovico Group. The substantial gift aims to bolster the college's financial standing and drive future developments.
The donated funds will be allocated towards several key areas, including constructing a new graduate centre and establishing graduate access scholarships. Crucially, a significant portion of the money will also go into the college's general endowment fund, ensuring long-term support for its daily operations. Linacre College, founded in 1962, has historically been one of the less well-endowed colleges within the university.
The process for renaming the college will begin once it receives the initial £50 million instalment of the donation. The Privy Council will then be formally approached to seek permission for the name change from Linacre College to Thao College, acknowledging what is described as a landmark gift. This move is a direct recognition of the donor's generosity and investment in the college's future.
The proposed name change has sparked controversy within the Oxford community, with climate justice campaigners raising concerns about Sovico Group's business interests, including offshore oil and gas exploration, fossil fuel financing, and ownership of Vietnam's first private airline. Critics argue that accepting funds from such a conglomerate risks undermining net-zero carbon standards and could undermine Oxford's self-proclaimed status as 'one of the greenest colleges'. The Oxford University Climate Justice Campaign has expressed disappointment, stating that the donation threatens their planet's survival.
However, others point out that Sovico Group has pledged to achieve net-zero carbon across all its subsidiaries by 2050 with guidance from leading Oxford academics. While some have voiced reservations about altering college names for donations, others acknowledge the pragmatic necessity of accepting significant contributions to support a modern college with limited resources.
The proposed donation has also raised questions about academic integrity and the prioritisation of financial gain over environmental concerns. Critics suggest that Linacre's actions may undermine its commitment to sustainability. The controversy surrounding the name change highlights the challenges facing institutions seeking to balance their commitment to social responsibility with the need for significant funding to support future developments.