Endowment must be handled responsibly
After the failings of Stanford Financial, Lehman Brothers and AIG, the current economic crisis has shown us the true importance of investing in companies that follow ethical and sustainable practices. Universities, as some of the largest shareholders in the country, have a vested interest and a huge amount of influence in making sure that companies commit to socially and environmentally responsible practices.Rice for Peace is calling on Rice University to join a growing movement of schools committed to responsible endowment management. We have created a proposal asking Rice to establish an Advisory Committee for a Responsible Endowment so we can use the university's power as a shareholder to promote social and environmental responsibility. Investments in companies that guarantee ethical practices and contribute to community development will, in both the short- and long-run, be the most beneficial to growing Rice's endowment as well as its standing in the academic and international communities.