SC Connecticut News

Yale's Advisory Committee on Investor Responsibility (ACIR) recently revealed that the university's Board of Trustees has made significant updates to its assault weapon divestment policy. The ACIR, which focuses on promoting the ethical management of Yale's endowment, shared the news with the community this week.

According to the ACIR, the policy revision includes expanding coverage to assault weapons manufacturers engaged in retail activities to the general public. Additionally, the ACIR clarified that proposals related to military weapons manufacturing did not meet the criteria for divestment.

The university's commitment to ethical investment stretches back over 50 years, guided by the principles outlined in "The Ethical Investor." This framework has served as a foundation for addressing investment decisions beyond economic returns and has influenced ethical policies at various universities.

The ACIR, comprising representatives from different sectors of the Yale community, plays a crucial role in advising the Yale Corporation Committee on Investor Responsibility (CCIR) on divestment policies. Recommendations from the ACIR are then considered by the CCIR before being presented to the Board of Trustees for adoption.

In 2018, Yale initially implemented a policy prohibiting investment in assault weapon retailers, citing the societal harm caused by mass shootings. The CCIR emphasized the importance of distinguishing between manufacturers and retail distributors of assault weapons, considering their potential use by the military and law enforcement.

Following proposals from student groups like Yale Students Demand Action, the ACIR reviewed and updated the policy to encompass assault weapon manufacturers involved in retail sales to the general public. The committee also addressed the issue of divestment from military weapons manufacturing, ultimately determining that such activities did not meet the threshold for divestment due to their socially necessary applications.

The ACIR actively encourages community engagement in discussions on investor responsibility, upholding Yale's enduring commitment to ethical investing.

These recent developments at Yale reflect a continued effort to align investment practices with ethical considerations, demonstrating the university's dedication to responsible financial stewardship.