Ad Hoc Committee on Divestment

Nick Romanenko

Charge

In spring 2020, a group of students submitted a request that the university divest from fossil fuels. The chair of the Joint Committee on Investments (JCOI) and the CFO and EVP for Finance and Administration made a preliminary determination that the students’ request appears to meet the standards outlined in the Investment Policy.

The Ad Hoc Committee on Divestment will advise the JCOI on a response to this divestment request that assesses the views of the university community, carefully considers the ethical and fiduciary responsibilities of the investment committee and the boards, and recommends appropriate next steps.

The committee will consider three major questions related to the divestment request at hand:

• Whether there is a consensus among a wide array of stakeholders that the subject of the divestment request is a concern that affects either the university community and/or people beyond its borders;
• Whether the university community has taken action to disengage from the organization, industry, or entity being considered (for example, in its purchasing decisions);
• Whether the subject of the divestment request is a social injury of such magnitude that, if not addressed, will directly affect a significant number of individuals.

The Ad Hoc Committee on Divestment will advise the JCOI on a response to this divestment request that assesses the views of the university community, carefully considers the ethical and fiduciary responsibilities of the investment committee and the boards, and recommends appropriate next steps. The ad hoc committee will be committed to conducting an inclusive, thoughtful review process that can serve as an example for future reviews.