Resolution: UA R19: Affirming Cornell's Commitment to Ethical Investments and Financial Transparency
| Date | 05/31/2018 |
|---|---|
| Action | Conveyed to the President |
| Notes | Dear President Pollack, It is my pleasure to convey to you UA R19, "Affirming Cornell's Commitment to Ethical Investments and Financial Transparency." This resolution is sponsored by Christopher Schott, and it can be found here: https://assembly.cornell.edu/resolutions/ua-r19-affirming-cornell’s-commitment-ethical-investments-and-financial-transparency The resolution requests that the Office of University Investments, with appropriate oversight from the Board's Investment Committee, "reevaluate [Cornell University's] distressed government debt thesis" so that the Office of University Investments might "prevent the university from investing in exploitative creditor relationships, minimize return volatility, and ensure the sustainable growth of Cornell’s endowment." Unlike some Assembly requests, this one is largely unique in that it comes from a desire to actually strengthen the University's financial integrity. The Assembly is asking the Office of University Investments to simply reevaluate the investment thesis in light of possible "exploitative creditor relationships" as well as the impact of those investments on the endowment as a whole. Essentially, accepting this resolution merely means affirming the idea that it is worth investigating if it is actually in University's best interest to maintain such investments in light of possible "exploitative creditor relationships" all things considered - which it might or might not be. This resolution does not take a position on that matter but merely urges the Office of University Investments to investigate. This request is the result of extensive discussions in our constituent assemblies and the result of consultation with the representatives from the Puerto Rican Students Association. The Assembly appreciates and admires your commitment to the University's long-term financial position and we appreciate the complexity of the issue at hand. Thank you very much for your patience and consideration. Please let me know if you have any questions or concerns. Best Gabe -- Gabriel D. Kaufman Chair, University Assembly Cornell University |
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