Having taken such careful pains to educate and encourage students about the need for social and environmental change, it seems odd that the University itself has not implemented social change in a more obvious and direct way: proxy voting. Proxy voting gives owners of corporate stocks and/or bonds the right to vote on company issues up for consideration at the firm's annual general meeting. As of now, the University has not yet exercised any of its proxy voting rights associated with its investments in public companies. While abstentions from voting are not cast in favor with the firm's viewpoints, not voting or leaving proxies unmarked automatically casts the shareholder's vote with the firm's opinion.
Obviously, ownership of a few stockholdings will not influence the thinking or strategy of a firm. With its $9.9 billion endowment and obviously large and diversified portfolio, however, the University does not fall into that above category; it has the power and obligation to initiate and encourage social and environmental change through the companies it invests in. By not exercising its proxy voting rights, the University now implicitly supports all actions of the firms it invests in, even if those actions violate certain human rights or environmental policies.
Simply embarking on a "caring investment strategy," however, is not enough. The term itself is far too vague and would allow for contradictory investment strategies. The University needs to create an independent advisory committee that determines concrete investment standards and goals, and oversees the University's investment policies. Such committees already function at not only Harvard and Yale, but also Columbia and Duke. In addition, the University should fully disclose information on its investments to the committee and actively consider its recommendations.
As such a public institution always pressing its students to fulfill their social responsibilities both inside and outside of FitzRandolph Gates, the University needs to take care to fulfill its own social responsibilities using all possible methods.
Read More
The CPUC must not gut its Judicial Committee
Bill HewittEnding the Judicial Committee’s jurisdiction over initial complaints would embolden abuses of power, allowing the administration to evade accountability for University rule violations without the pressure of student and faculty authority.
Ending the Judicial Committee’s jurisdiction over initial complaints would embolden abuses of power, allowing the administration to evade accountability for University rule violations without the pressure of student and faculty authority.
Princeton, let’s adopt a digital prox
Jorge ReyesTo prevent pointless replacement and lockout charges, maximize convenience, and create better access to meals and facilities, Princeton should follow the precedent set by some of its peers and adopt a digital prox system.
To prevent pointless replacement and lockout charges, maximize convenience, and create better access to meals and facilities, Princeton should follow the precedent set by some of its peers and adopt a digital prox system.
What is a Princeton degree really for?
Joel IbabaoSo what, in the end, is a Princeton degree really for? I take a more moderate view: Students should prioritize earning potential — unless they feel irresistibly called to something else.
So what, in the end, is a Princeton degree really for? I take a more moderate view: Students should prioritize earning potential — unless they feel irresistibly called to something else.