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SRI
About
the Committee
Why
the Committee was Formed:
Over
the past thirty years, increasing numbers of colleges and
universities have come to realize a school without an ethical
investment policy does not hold a neutral position. Part owners
of corporations, schools participate in the governance of
those corporations and are partially responsible for their
conduct. Many schools have become involved in the effort to
improve the business practices of those corporations in which
they are invested because they are chartered as non-profit
institutions, and therefore have a special obligation to act
in the public interest.
When
colleges fail to vote on shareholder resolutions, their vote
by law goes to management, so that schools are either actively
voting on these issues, or are voting by defacto. Barnard
has decided to undergo a rigorous analysis of the shareholder
issues on which she will be voting to ensure her votes are
consistent with Barnard's mission statement and the ethical
guidelines that have been issued in other areas of the school's
operation, such as admission procedures and hiring practices.
In
the summer of 2002, the Barnard Trustees created the Committee
on Socially Responsible Investing in order to advise the Trustees
as to the ethical and social issues arising from the management
of the College's endowment. The Committee reviews the College's
portfolio, consults with the College community and those knowledgeable
about such issues in order to present voting recommendations
on an annual basis to the Trustee Committee on Investments.
These recommendations are detailed in a Report of the Socially
Responsible Investment Committee's Recommendations to Trustees,
and will be made available on this web site, in Lehman Library,
and in the Office of Public Affairs.
The
Committee on SRI takes very seriously its mandate to represent
the concerns of the entire Barnard community. Please
attend our annual community forum, or send us your comments
via e-mail to be sure that your voice is heard and reflected
in the Committee's recommendations to the Trustees.
How
the Committee was Formed:
The
socially responsible investing movement first became active
at Barnard during the South African divestment movement of
the1970s, in which thousands of shareholders voted to have
their companies cease from operating in South Africa until
it dismantled its oppressive apartheid system. Many
believe that forcing South Africa to pay a monetary price
for its policies played a critical role in the campaign to
end apartheid. While Barnard never adopted an official
anti-apartheid stance with regards to its investment practices,
the campaign served to initiate the movement to implement
socially responsible investing at Barnard.
Recognizing
the importance of SRI, and its relevance to Barnard's mission,
a group of students formed Students for Socially Responsible
Investing (SSRI). SSRI worked with students, faculty,
alumnae, and administrative members in order to compose a
proposal for a Committee on Socially Responsible Investing
to submit to the Barnard Board of Trustees. In 2002,
SSRI formally presented its proposal to the Trustees, who
voted to approve the proposal.
During
a time when many Americans are questioning the success of
internal corporate mechanisms for governance, the Barnard
Board of Trustees has shown tremendous leadership in working
to ensure that shareholders become more effective monitors
of the practices of corporations in which they are invested
and have presented Barnard with increased opportunities to
positively influence our global community.
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