Socially Responsible Investing at Grinnell

1
Socially Responsible Investing at Grinnell

• Latona Giwa 09
• Linn Davis 08

2
Background

• Grinnells historical commitment to social
  responsibility (Core Values)
• Other schools with SRI committees include
  Barnard, Brown, Columbia, Dartmouth, Harvard,
  Penn, Smith, Stanford, Swarthmore, Vassar,
  Williams and Yale

3
Example Swarthmore

• Recognized SRI as an issue
• Started a Committee
• Transparency for public investments
• Decided to pursue proxy voting
• Investments in Lockheed-Martin
• Anti-discrimination policy did not match
  colleges
• Authored proposal
• 5 of vote at shareholder meeting
• Changed corporate policy
• Granted Different from Grinnell

4
Statement of Commitment

• Grinnell College recognizes that its Core Value
  of social responsibility and action applies to
  its investment practices. Consequently, the
  College believes that it has an obligation to
  invest responsibly and an interest in encouraging
  the companies in which it invests to adopt good
  practices on environmental, social and governance
  issues.

5
Committee

• Made up of students, faculty, staff and alumni
• Purpose
• Create guidelines
• Make nonbinding recommendations regarding SRI
  opportunities (e.g. proxy voting and community
  investment)
• Act as go-between with wider campus

6
Transparency

• Regular confidential reporting to Committee
• Necessary for Committee to work
• May not be possible to release all information to
  general public because of Grinnells unique
  investment strategy
• Committee would release annual report of
  activities to public

7
Example Williams

• Has committee
• All investment portfolio information on website

8
Proxy Voting

• Voting with our shares
• Only talking about SR proxies
• Can make a big impact, even if vote totals are
  low
• Committee would use its own guidelines and
  outside resources available to help Committee
  decide on which proxies to vote

9
Community Investment

• Can make huge impact in local and distant
  communities
• Many different methods would be up to Committee
• Perhaps set 5-15 target
• Other Benefits
• Reputation
• Donations

10
Example The Strand

• Revitalized old theatre
• Positive local community investment
• Great job, Grinnell!

11
Endorsements

• Joint Board passed the SRI Resolution with a
  12-1vote and 2 abstentions
• 65.8 of 878 students voted for SRI Student
  Initiative with 20 abstaining
• Cosponsors John Bohman-SGA President, CARW,
  LASG, SAS, STAND, PSG, Grinnell Amnesty
  International, SJAG, Prison Writers Workshop, Val
  Vetter-Coordinator of Peace Studies Program,
  Brian Campbell-Lilly Fellow in Religious Life

12
What Wed Like to See Now

• Adoption of a written statement recognizing
  commitment to SRI
• Grinnell College recognizes that its Core Value
  of social responsibility and action applies to
  its investment practices. Consequently, the
  College believes that it has an obligation to
  invest responsibly and an interest in encouraging
  the companies in which it invests to adopt good
  practices on environmental, social and governance
  issues.
• Creation of a committee to oversee SRI carried out