For a University that proclaims to be a leading institution of higher education, a grade of C minus is utterly unacceptable. That is, however, the overall mark Boston College recently received on the report card from the Sustainable Endowment Institute (SEI). BC has made important progress on numerous "sustainability" fronts over the past decade, though it has failed to follow arguably the most important example set by other leading academic institutions: Socially Responsible Investing (SRI).
Out of the 100 American universities with the largest endowments (totaling over $258 billion) profiled in the SEI report, Harvard University, Stanford University, Dartmouth College, and Williams College were the highest ranked (all receiving A grades).
They received this rank not because of their superior professor-to-student ratio, the number of top-rated faculty at each institution, or even the number of applications each institution received last year. They were top ranked because they have adopted and implemented comprehensive SRI policies for their university endowments, as well as other campus sustainability efforts.
Harvard has the largest endowment of any university at $28.9 billion, yet it also has one of the most comprehensive SRI policies. Harvard demonstrates, along with other leading universities, that it is possible to balance investment priorities with moral obligations.
Boston College, unlike these universities, is a Catholic Jesuit university, with a mission of social justice inherent to our University.
While we send hundreds of students on countless volunteer and service trips each year and dedicate research and resources to promoting peace, human rights, and environmental protection, our $1.4 billion endowment is not invested in a manner that actively promotes justice in this world. Think of all the good (or worse, all the bad) that can be done with $1.4 billion.
Is the endowment supporting genocide in Darfur? Are we invested in oil companies and multinational firms that are dramatically contributing to irreversible climate change? Are we invested in weapons manufacturers that profit from building deadly bombs used around the world? Is BC profiting from the destruction of human life and the environment?
To be honest, we don't know where the endowment is invested because the University refuses, after four consecutive years of requests, to release their investment portfolio to either the BC community or a representative committee.
Additionally, they refuse to adopt or even consider comprehensive SRI policies that have worked so well at other leading academic institutions.
Ideally, BC would form a committee of students, faculty, administrators, and investment professionals to implement a comprehensive SRI policy. The work required to implement a SRI policy is minimal since BC can base its policy on the successful practices of other universities that have been doing this for years.
Finally, it's regrettable that for all the sacrifices made by BC students and faculty to promote peace and justice throughout the world, our own University may be working against these very efforts by investing in unjust and socially irresponsible corporations.
It's time for BC to catch up with other leading institutions and adopt a comprehensive SRI policy. It will not only promote justice throughout the world ($1.4 billion worth), but the policy will also help BC excel toward its goal to become the leading Jesuit Catholic university in the world.
BC should follow the example of other leading institutions and adopt a Socially Responsible Investing policy to ensure a more thorough moral obligation to social justice.
Nick Salter is a senior in the College of Arts and Sciences.
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