Ric regents & trustees


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  • Tyler and Degoey (1994) measured employees’ willingness to accept managerial decisions voluntarily as a function of their supervisor’s (a) competence and (b) integrity. Competence refers to an ability basis of trust, whereas integrity refers to an intent basis. Both factors were significantly related... However integrity was a much stronger predictor than was competence (cited in Brockner & Siegel, 1996, p 407-408).
    Tyler and Degoey (1996) found in “an empirical evaluation of three distinct aspects of trust suggests that trust is, at least to a considerable extent, a social resource... (and) that trust - if defined in terms of positive intent rather than calculated risk - is especially important during times of crisis and conflict” (pp. 345).
  • UN Principles for RI: Environment, Social and Corporate Governance (ESG) issues - tenets of Sustainable Development
  • Ethical citizenship: being trained to save the world. Local community: major employer, major polluter. Diversity: There’s a reason why all the admission brochures just happen to show people of all backgrounds happily sitting together in the cafeteria.
  • Bard and swat both done by REC.
  • Passive=school does not have to change its investments. thinking about it this way helps administrators see they don’t necessarily have to move 1 cent of the endowment to be able to promote the school’s values. Just give a basic overview of what each thing is; with more time usually we do a slide on each.
  • Talk about importance of committee as creating long-term commmitment after students graduate.
  • I direct everyone to chey as she gives out an intro email; gets folks on our mailing list etc.
  • Ric regents & trustees

    1. 1. Taking Leadership on Responsible Investment: Opportunities for Colleges and Universities Presented by Montgomery Norton and Tahiya Sultan April 4, 2009
    2. 2. What is REC? • A diverse coalition of over 75 colleges and universities nationwide • We support students, administrators, trustees and alumni to leverage $ 400 billion in economic power!
    3. 3. • Why does it matter? • History of RI • Responsible investment practices • What you can do • Ways REC can support • Case study: University of California Topics Covered
    4. 4. Responsible Investing: Why does it matter? • The fastest way off of the picket line and into the board room • Leads to unbelievable victories in corporate reform and community development • Brings some humanity back to capitalism • Character, Trust, & Integrity • Managing inclusion
    5. 5. Fiduciary Responsibility • "We have always known that heedless self-interest was bad morals; we know now that it is [also] bad economics.” - FDR • AIG CEO, Edward Liddy, testified before the Congressional investigative committee March 18, 2009 (Fiduciary Responsibility to the Tax Payers)
    6. 6. Development of RI • Vietnam War: funds screened for investment • 1977-1985: 55 universities divest from Apartheid South Africa • 2000: Tobacco industry divestment • March 16, 2006: UC divests from Sudan • April 27, 2006: UN Principles for RI • Jan 29, 2009: Social Investment Forum’s letter to Obama (Office for Innovation in CSR)
    7. 7. Question • President Bush signed legislation allowing state and local governments to cut investment ties with companies doing business in Sudan. – A. True – B. False
    8. 8. Answer • True. On December 28, 2007 Bush signed the Sudan Accountability and Divestment Act of 2007
    9. 9. Major Victories • Fall of apartheid South Africa • Home Depot stops selling old growth timber • Nike allows factory inspections • McDonalds agrees to pesticide reduction program • Billions more dollars devoted to low-income housing and microenterprise
    10. 10. Colleges and Universities: The Next Frontier • Mission-driven institutions • Values most commonly cited include: –Ethical citizenship –Support for the local community –Strength in diversity WHERE IS YOUR SCHOOL INVESTED?
    11. 11. Examples of colleges and universities • Bard College uses a resolution to get pesticide reduction program at McDonalds • Swarthmore College got Lockheed Martin and FedEx to start giving domestic partner benefits • Duke University put millions in a community investment fund
    12. 12. …its not just hippie colleges • 16 out of the top 20 US news and world report ranked schools have committees on investor responsibility, including Harvard, Yale, Columbia, Amherst, etc. • Public schools are typically behind • Great way to secure school’s finances, social reputation and improve alumni donations!
    13. 13. Question • Student Regents and Trustees can’t or shouldn’t get involved in activist or student organizing campaigns such as Responsible Investment. – A. Agree – B. Disagree
    14. 14. UC Case Study • Humble beginnings • Collaborative resources • UC Sustainability as a model • Challenges of the UC 10 campus system
    15. 15. What is responsible investment? • Passive Strategies – Initiating corporate dialogue – Filing and voting on shareholder resolutions (proxy voting)  Active Strategies  Screened Funds  Proactive Investment  Divestment
    16. 16. How do we start? • Educate students, alumni, administrators and trustees about responsible investment • Work for more transparency of endowment and investment strategies • Work to establish a Committee on Investor Responsibility • Link up with other colleges and universities • As individuals—look at your own accounts!
    17. 17. How REC can help • Researching the endowment • Sample policies at other universities • Connections to other universities and social/environmental justice groups • Alumni Network • Student organizer programs • Come to a conference—Oct 2-4, Wharton school of business at UPenn • Our website: www.endowmentethics.org • Webinars: www.voicethread.com (endowments) • Student and trustee handbooks
    18. 18. Responsible Endowments Coalition Contact: – Cheyenna Weber, Organizing Director – Phone: 917.930.0123 – Email: organize@endowmentethics.org – www.endowmentethics.org