Fair Open Access Funds - What libraries can do to promote Diamond Open Access

Presentations delivered at Fair Open Access Funds - What libraries can do to promote Diamond Open Access (06.11.2024,1pm - 2:15 pm (CET)). Abstract As both subscription and publication costs for scientific journals and monographs continue to rise, there is much discussion about Diamond Open Access as an alternative funding option. But how can academic libraries support Diamond Open Access? One approach is to create seperate publication funds for Fair Open Acccess. In Fair Open Access, the focus is primarily on supporting publishing infrastructures and academic initiatives in order to strenghten scholar-led publishing. The Fair Open Access Alliance (FOAA) has outlined five key principles that journals must adhere to in order to qualify as Fair Open Access. These include: 1) being led by the academic community, 2) ensuring that authors retain the copyright to their work, 3) providing immediate and unrestricted Open Access to all content, 4) separating submission and publication from mandatory fees, and 5) maintaining low, transparent, and proportionate costs for any necessary fees. To support Fair Open Access initiatives, some university libraries allocate dedicated financial resources through Fair Open Access funds: Demmy Verbeke introduced the KU Leuven Fund for Fair Open Access, which is dedicated to promoting a cost-effective and sustainable implementation of Open Science. The fund supports the development of new publishing models, as well as Open Science initiatives and infrastructures, with the goal of steering away from expensive, for-profit business models and empowering scholars to regain control of the publishing process. Michaela Voigt talked about the Technische Universität (TU) Berlin and its University Library which has launched a Fair Open Access Fund in 2024 to further expand the existing support for Open Access. The focus of Fair OA funding is on publication or infrastructure projects that strengthen sustainable and open publication structures, promote diversity instead of monopolism and see cooperation as a driving force for innovation. At the event, we presented these best practices and discussed the following topics: What considerations preceded the establishment of a Fair OA Fund at KU Leuven and TU Berlin and what criteria do they use as a guide? How do Fair Open Access Funds work? What experience has been gained? How can the approach be transferred to other institutions?