Update from Divest Smith College

This week, student fossil fuel divestment campaigns Divest Smith College, Divest Barnard, Reinvest Dickinson and Divest Middlebury received a response to their letter demanding their presidents meet to discuss divestment from the top 200 fossil fuel companies.

The schools share an investment management company, Investure LLC, and wrote their letter as a group to take advantage of the potential for collective impact. “We ask that you, President Spar, President Roseman, President Liebowitz and President McCartney, communicate with one another, provide a public response by April 17, 2015 and schedule conversations with our divestment campaign representatives before the end of this semester,” the students wrote.

The presidents have responded. “Presidents Debra Spar, Nancy Roseman, Ronald Liebowitz and I held a conference call on April 13,” wrote President McCartney in her response letter. “We agreed to arrange a meeting with Investure to review current investment strategies and additional investment options; we are working to schedule the meeting in June.“ Students of the Investure Coalition divestment campaigns are waiting to hear and hope to be invited to participate in that conversation.

In addition President McCartney announced that she has asked the vice president for finance and administration “to update our analyses of how partial or full divestment would affect our endowment returns.”

“It is unclear at this point whether full divestment from fossil fuels will be discussed at the June meeting with Investure,” added Eleanor Adachi ’17, leader of Divest Smith College. “Our goal is to end profits from global injustice and destruction, and we will continue to appeal to the moral mission of the college until Smith has committed to full divestment from fossil fuels.”

-Divest Smith College