The Board of Trustees amended its Statement on Investment Responsibility and approved the Stanford Management Company’s (SMC) first-ever Ethical Investment Framework in its Tuesday morning meeting.
Last week, Stanford’s Board of Trustees (BoT) released a letter to the editor defending its failure to divest from private prisons. Their statement focuses on technicalities and obscure bureaucratic processes. In this discussion, we must remember people’s lives are destroyed for profit. The Board’s statement ignores the core of this issue: Stanford profits off the real suffering…
The Stanford Board of Trustees announced Tuesday that the University will not divest from various companies associated with the private prison industry that a student group submitted for review last fall.
Around 1 p.m. on Monday, 104 students, many affiliated with Fossil Free Stanford, walked to Building 10, which houses the offices of the president and provost, and announced that they would be participating in a sit-in until the President John Hennessy and the Board of Trustees agreed to full divestment from fossil fuel companies. At the same time, a rally for full divestment took place in White Plaza. At the conclusion of the main rally event, students began to put up tents around the building to camp outside the office.
We are alarmed at the university administration’s blatant misconduct in this process, and we expect that Stanford will correct the situation immediately. We believe that the only reasonable remedy is an entirely new review for SJP’s divestment request, from which Weinstein should recuse herself.
The Band rally commemorating Meyer Library wasn’t the only rally making noise Wednesday afternoon, as Fossil Free Stanford (FFS) led a group of an estimated 75 students on an on-campus march in their continued push for University divestment from oil and gas companies.
The Stanford University Board of Trustees announced earlier today that the University will no longer directly invest endowment funds in coal mining companies, making Stanford the first major American university to take such a step.
Fossil Free Stanford, the Stanford chapter of a national Fossil Free movement, has launched a campus-wide initiative to urge the University to divest from fossil fuels.