Reed Trustees Decision on Divestment expected May 2014

A few weeks ago Fossil Free Reed met with the Board of Trustees. Thank you so much to those who were able to attend or sign the petition — your interest and engagement with this issue is almost as important as our actual investments. Demonstrating that this is an issue you care about is crucial if we want the Trustees to take this seriously.

The meeting was a big success. The four trustees who composed the ad hoc committee on divestment brought to us the major questions which concerned the Board in their evaluation of divestment.

While the campaign has had a few opportunities to share their positions on these questions, it was valuable to include more of your voices in the conversation.

We stand by our commitment that divestment from fossil fuel industry is warranted under the conditions set out in Article III of our Investment Responsibility Policy, and that logistical difficulties should not constitute a prohibitive obstacle to divestment. Furthermore, a wealth of financial research suggests that fossil free investments outperform broadly diversified portfolios. Divestment is necessary to bring Reed College in line with its own values and policies and does not constitute a threat to the College’s operating budget.

The Trustees promised to make a public announcement regarding their decision on divestment before the end of the semester, which means we can expect to hear from them any day now. We are truly eager to move forward in the process of making Reed an institution that can stand up for its principles. I am particularly excited to continue conversations about the criteria Reed should use as ethical standards of investment.

With love and rage, for justice,
Happy summer everyone,

Austin Weisgrau
&& Fossil Free Reed

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