Having spent over eight months fighting to have their concerns about divestment heard, Students for Ending the War in Iraq (SEWI) recently sat down with members of the Board of Trustees to discuss investing policies. SEWI demands that the University divest from weapon contractors like Raytheon and General Dynamics. The University’s chief investment officer expressed concerns that any change to the current investment plan may negatively affect the University’s money. While no definitive course of action was reached, the group considered implementing a more socially responsible investment policy.
But how can “socially responsible” be defined, especially amongst people who hold divergent interests? The University must either side with those who uphold the moral implications of their own monetary investments (chiefly, their tuition money), or with those who view Wesleyan as a sort of business in which money is transferred and hopefully increased. The University must balance its financial responsibilities with a larger sense of the public good. As a socially-engaged and concerned student body, we should be conscious of the companies the University invests in, and oppose those businesses whose ethics and practices do not align with our own.
Flashback to 1988: 110 students were arrested while protesting Wesleyan’s $10.6 million investment in companies who did business in South Africa during apartheid. In response, Wesleyan divested. With the ever-changing political scene, the students and administration in 1988 wouldn’t have been able to predict the war in Iraq, now the source of protest. The University needs an overarching plan to address situations as they arise, a socially responsible investment plan to be used in all future situations. Using “screens” or guidelines for investment can assist in directing the University’s efforts. Also, forming an investment advisory committee (much like the endowment advisory committee) can assure that students’ thoughts will be heard.
Ultimately, the University should absolutely invest in companies that will help to financially support its goals, particularly President Michael Roth’s admirable plan to eliminate loans for the most financially needy students. The pursuit of monetary enrichment, however, should not come about through abandonment of larger ideals. If Wesleyan wants to proclaim itself a haven for progressive and innovative thought, it must seriously consider its investment practices, both monetarily and ethically.
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