Over the course of the past two semesters, Tufts Divest has been involved in ongoing talks with the administration and Board of Trustees about divestment. We are committed to working respectfully with the administration, as long as we are making progress towards creating a more sustainable endowment and a better Tufts. Today, we are pleased to say that the Tufts administration is making progress by starting a formal process to look into divestment and other ways the school can address climate change.
President Monaco has requested that a working committee form to review several issues, including divestment and other steps Tufts can take to address the climate crisis. The committee will have its first meeting next week! Below is the official announcement from the Administration.
Working Group Regarding Socially Responsible Investments and Climate Change
A growing and active group at Tufts has joined a larger movement to advocate for divestment of fossil fuel companies from the Tufts Endowment Fund. This group, known as “Tufts Divests: Students for a Just and Stable Future”, has shared a written paper and presented to the Board of Trustees Investment Committee its position that Tufts should, over a five year time period, divest from all holdings in fossil fuel companies in its endowment. The Board has indicated an interest in continuing dialogue with students to explore what proactive actions Tufts can practically take with its investments to help mitigate climate change.
In response, President Monaco has requested a small working group be established to address the issue of socially responsible investments and climate change. The group will be comprised of three trustees, three students, three faculty members and one representative from university administration. Trustee Laurie Gabriel will chair the group. The purpose is to explore opportunities for Tufts to engage in effective and financially reasonable efforts to combat global climate change. This work would include three identified areas:
- Creating an understanding of what is involved in divesting from fossil fuel companies, including the financial and structural impacts , while respecting the limitations on disclosure of specific investment information;
- Exploring the possibility of establishing a fund with a commitment to socially responsible investing;
- Considering what other advocacy efforts Tufts can undertake or support to encourage public policy that will limit climate change and global warming.
Working Group Members:
Laurie Gabriel, Trustee
Bill O’Reilly, Trustee
Andrew Safran, Trustee
Andrew Peng, Student representative from ACER
Lila Kohrman-Glaser, Student representative from Tufts Divest
Devyn Powell, Student representative from Tufts Divest
Kelly Sims Gallagher, Faculty Fletcher
R. Bruce Hitchner, Faculty Arts & Sciences
Ann Rappaport, Faculty Urban & Environmental Policy & Planning
Patricia Campbell, Executive Vice President