To the Editor:
In response to the column written by Brown Divest Coal (“It’s time to vote yes on coal divestment,” April 18), the Socially Responsible Investment Fund would like to express its strong support for the cause in this crucial time, right before the Corporation makes a decisive vote in May. The student investment club would like to congratulate the dedicated members of the movement on their progress, which has included winning the backing of the university Advisory Committee on Corporate Responsibility in Investment Policies and the support from billionaire investor and environmentalist Tom Steyer in his personal letter to the administration.
Many prominent investment management firms in the world have already placed heavier emphasis on the realm of conscious investing. In fact, many of them have dedicated funds that shun the types of investments at the center of the movement. The concept of intentionally constraining the allocation of capital with specific guidelines is nothing new. For example, funds subject to the principles of Islam are prohibited from charging interests on loans or participating in ventures that involve alcohol, gambling and other vices. If people are willing to take the idea of conscious investing seriously based on religious reasons, then why not on environmental grounds?
As Brown Divest Coal’s purpose is one of importance and value, we hope that, in conjunction with the student conversations it has stirred, it will score a final victory in the impending Corporation meeting.
Mingshao Cheng ’14
President, Socially Responsible Investment Fund
ADVERTISEMENT
