Proposal to Create an Advisory Committee on Socially Responsible Investing
I. Preamble
In his inaugural address, President Crow explained the role of ASU as a New AmericanUniversity. President Crow states that in addition to benefiting the state of Arizona, "...there is amuch broader social obligation that must be met. As members of an academic community, I
believe we must share our expertise globally to help alleviate the host of problems that beset our increasingly complex world."As an New American University, we, the members of the ASU Coalition for Human Rights, believe that Arizona State University should use its influence on a state, national, and eveninternational level to fulfill this "social obligation." As the largest university in the United
States, Arizona State University sets an important example with its policies regarding academicresearch, interdisciplinary collaboration, and human rights.Yet, despite its standing as a leading research university, ASU lags behind other universities onits commitments to social responsibility. Over the past thirty years, other colleges anduniversities in the US have been establishing committees to evaluate the impact of their financialinvestments on issues of human rights and social responsibility. Moreover, the ASU Foundationdescribes itself in its mission statement as “an engine for positive change that, through philanthropic investment, will measurably affect society’s pressing issues." Because aninvestment is an implicit representation of a university's values, ASU has the potential to upholdits "social obligation" by establishing a committee to ensure that ASU's investments, which todate exceed $645 million, are socially responsible.Thus, believing that actions speak louder than words, the ASU Coalition for Human Rights callson ASU to establish an Advisory Committee on Socially Responsible Investing (ACSRI) toinvestigate the impact of ASU's investments on local and global issues of human rights. In thewords of President Crow, to be a New American University, "We must integrate theadvancement of knowledge with the transformation of society."
II. Committee Structure
To ensure that the Advisory Committee on Socially Responsible Investing (ACSRI) isrepresentative of the Arizona State University, its thirteen voting members will be drawn fromstudents, faculty, and members of the Phoenix community from a variety of disciplines. Ideally,over time, membership will provide balanced representation of the schools and divisions of theuniversity.A. The voting members of the committee shall consist of:i. Four faculty members, deemed by students and peers as experts in the fields of humanrights and social responsibility.ii. Four undergraduate or graduate students, representing the diversity of perspective of ASU students.
iii. Four alumni of Arizona State University, who are interested in promoting human rightsand social responsibility through ASU’s investment policies.iv. One community member who is recognized for his or her work in the field of humanrights and social responsibility in the Phoenix area.B. The nonvoting members of the committee shall consist of:i. At least one member of the ASU Foundation, responsible for providing information and achannel of information between the Committee on Socially Responsible Investing and ASU'sinvestors.ii. Another member of the university administration, if necessary for logistical support.iii. A paid student worker, who will research issues of socially responsible investing at ASUfor the committee.C. Election of committee members:i. The faculty members shall be elected by the ASU Faculty Senate.ii. The four students must be elected by popular vote, alongside Undergraduate StudentGovernment elections.iii. The alumni must be elected by the ASU alumni association.iv. The community member must be selected a) from a local human rights organization and
must b) be recognized in his or her field for their excellence in social service. The communitymember shall apply directly to the Advisory Committee for Socially Responsible Investing andwill be selected after a transparent interview process.v. An individual is not eligible to serve on the committee if there is a conflict of interest
whereby that individual's personal, professional, or financial well being could be affected by thedecisions rendered by the committee.D. Term length: Each SRI committee member will serve for one year, but may be reelected bythe established voting mechanisms.E. Passage of non-binding resolutions and recommendations to the ASU Foundation and the
Arizona Board of Regents shall be made by a simple majority of five voting committeemembers.F. The chair of the committee shall be appointed by an internal committee vote. The duties of thechair are to set meeting agendas, moderate meetings, and ensure that meetings occur on a regular and timely basis.
III. Duties of the Committee
A. The committee shall ensure that ASU institutes a socially responsible investment policy. This policy includes, but is not limited to:i. Requesting investment managers to encourage good behavior from the companies itinvests in, and to discourage poor behavior by the screening of investments, taking intoconsideration the following list of criteria (which are by no means exhaustive):-a company's promotion of human rights, including but not limited to promoting theequality of
gender, race, ethnicity, religious preference, and sexual orientation-promotion of good business ethics and employment practices-promotion of international cooperation and commitment to a reduction of internationalconflict-protection of the global environment, its climate, and biodiversity-sustainable procurement of essential resources-protection of animal rightsii. The prohibition of investments in companies if the behavior of these companies isinconsistent with ASU's educational, philanthropic, and social goalsiii. The prohibition of investments in companies that fail to uphold principles of social justice. This would include (but is not limited to) companies that:-commit human rights abuses-knowingly provide resources to those who will commit human rights abuses-manufacture weapons of torture-fail to uphold basic labor rights (including the right to form a union)-fail to uphold principles of environmental justice
-give vocal, economic, or political support to a regime that infringes upon human rights,enabling it to commit human rights abuseB. The committee shall make recommendations in regards to shareholder proxy voting,sponsoring shareholder resolutions, and contracts so that ASU uses its shareholder votes andfinancial capital to create positive social change.C. The committee shall make yearly reports to ASU Council of Presidents, ASU Foundation andthe Arizona Board of Regents about SRI proposals considered, an assessment of ASU's currentinvestment under the guidelines of socially responsible investing, and recommendations for divestment, if necessary.D. The committee shall also vote on non-binding issue specific resolutions, so as to provide themost up to date information to the ASU Foundation, the Arizona Board of Regents, and the ASUcommunity about how to promote socially responsible investing.E. The committee shall serve as a conduit of investment information to the ASU community.
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