Investments

Student brings responsible investing to Peace Prize Forum

Date 2/24/2000 12:00 AM | Topic: News

On Feb. 19, Students for Socially Responsible Investments (SSRI), an organization comprised of Luther students Jeanine Otte ('02), Alyssa Erickson ('02), John Rader ('02), Greta Swanson ('00), and Emily Penk ('00), presented a call for ethical investment policy at this year's Peace Prize Forum.

SSRI was taking part in a new facet of the forum.

According to Derek Burrows, a St. Olaf student and organizer of the event, last year student organizations met informally to discuss campus activism. This year they were formally incorporated into the forum's schedule.

"The event is our chance to present SSRI's goals, mission statement, history, and experience with other with other student activists," said Penk. "It was a chance to raise awareness."

At the forum SSRI stressed the need for ELCA colleges to be conscious of their mission statements when formulating investment strategies.

"Such investment policies should become part of the college's greater mission," said Rader.

They challenged ELCA colleges to financially fulfill their role as the church in higher education by using investments to stand up to injustice.

SSRI's primary goal is to work with the administration and board of regents to establish a socially responsible investment policy at Luther.

This is not the first time Luther students have pushed for socially responsible investing.

In 1984 students protested investments the college was making in pro-apartheid South African corporations.

On May 14, 1984, the board of regents voted down a proposal to discontinue these investment policies.

"I believe it is appropriate that the campus community continue to feel free to petition the board about our investment policies," said regent Gus Donhowe following the vote. "While the board has rejected the resolution before us, that doesn't mean the we would not be open to alternate and specific recommendations."

SSRI is hopes the board continues to be open to such a discussion.

However, during a Nov. 19, 1999, meeting between the board of regents and the college's investment consultant, Hammond and Associates, a number of regents voiced doubts about the reality socially responsible investing in an increasingly global and diversified market.

SSRI acknowledges the challenge of ethical investing, but it also points out that colleges similar to Luther, such as Augsburg College, already have ethical investing policies and are actively applying them.

Overall, members of the group felt the forum was good chance to talk with other activists.

"We received some positive feedback," said Swanson. "Plus, it was nice to hear about what is going on elsewhere."

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Nathan Gerth
Chips News Co-Editor

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