Inequality and the Climate Crisis: A Panel on Fossil Fuel Divestment
On May 1st at 7:00 PM at the Public Affairs Center, WesDivest! and the CIR will be co-hosting an open discussion on fossil-fuel divestment and environmental ethics. We hope to see you there! The speakers include:
Onte Johnson – Community organizer with Sierra Club’s Beyond Coal campaign in Bridgeport, CT
Beth Herz ‘07 – Board member for the Responsible Endowments Coalition, an NGO working to change the way colleges invest.
Gilbert Skillman – Professor of Economics who has been very involved in endowment policies in the past.
Elise Springer – Professor of Ethics specializing in Environmental Ethics.
Brett Salafia – Head of Operations and Investment Associate in the Wesleyan Investments Office
CIR Divestment Statement
in March, the CIR released a statement detailing the current state of the fossil-fuel divestment issue on campus and around the world. It can be read here: CIR Divestment Statement
Shareholder Resolution filed with Rockwood Holdings
In December 2012, the CIR filed a shareholder resolution with Rockwood Holdings. The resolution can be read here.
If you are a CIR at another school or just curious about the shareholder resolution filing process, more information can be found here.
First Community Investment Transactions Completed!
This April the University has transferred a total of half a million dollars in the form of two 250,000 six month C.D.’s Into two different community banks in our area, Liberty Bank and Community’s Bank. We look forward to continuing to work with these banks in the future.
Links the the letters of intent we sent the banks can be found below:
Our primary agenda this year has been to start the process of community investment at Wesleyan. As a first step, the CIR has passed a Community Investment Proposal, which provides a definition of Wesleyan’s community and of a community bank. The resolution provides a framework for addressing a banks commitment to serving the community to which it is a part and evaluates several banks in the Area based on this metric. Ultimately the resolution advocates that the finance office move half a million dollars from Wesleyan’s general operating account into two different community banks, Liberty Bank, located in Middletown, and The Community’s Bank, located in Bridgeport. The proposal was passed unanimously by the CIR and approved by the F.O. The CIR will work in conjunction with the F.O. to make the transfers in the coming months.
In February 2012, the CIR completed an updated Community Investment Proposal, proposing an expansion in investment to $1 million.
In response to a resolution sponsored by the student group, the Socially Responsible Investment Coalition and passed by the Wesleyan Student Assembly on endowment transparency, the CIR drafted its own resolution to address transparency. This semester we have brought the resolution before the board of trustees, and have helped to facilitate a dialogue between the Investment Office, the Board of Trustees, and the student body about a productive way to give the community access to safe and relevant information regarding the school’s endowment and to incorporate the communities concerns into the way in which Wesleyan invests.