Reports from the Task Force on Divestment

September 25, 2014

Greetings,

You may remember that last spring the President, the Board of Trustees and the Institutional Policy and Planning Committee (IPPC) endorsed the formation of a Task Force on Divestment (TFD) to study and present recommendations on a proposal that the College divest its endowment holdings of equities relating to fossil fuels.  Over the last few years, many constituencies have asked the College to explore divestment, including a student petition, which was subsequently endorsed by the Student Government Association (SGA), and was then presented to the Board of Trustees.  Concurrently, other colleges and organizations have also been called upon to examine divestment.  I am writing to update you on the composition and planned activities of Skidmore’s Task Force on Divestment.

The TFD has 10 members (chosen through willingness-to-serve and appointment processes) including representation from students, faculty, administrators, and our Board of Trustees. The members are:

Faculty 

• James Kennelly, Professor of Management and Business (Chair)
• Pat Oles, Associate Professor of Social Work
• Robert Turner, Associate Professor of Government

Staff 

• Kyle Bernard, Controller, Director of Financial Services and Associate Treasurer
• Karen Kellogg, Associate Dean of the Faculty for Infrastructure, Sustainability and Civic Engagement (Vice-Chair)
• Levi Rogers, Sustainability Coordinator

Students

• Jessica Aleman '15
• Brian Fredericks '16
• Madeleine Welsch '17

Trustee

• Charles B. Buchanan

The President’s Office will provide staff support to the TFD.

The TFD was assembled at the end of the Spring semester and is now beginning its work in earnest.  The first phase of our work, which we are conducting this Fall, is focused primarily on information gathering and learning.  Before we engage with the larger community, we need to develop a better understanding of what “divestment” actually means (as there are different forms and levels of divestment), what it is intended to accomplish, how other institutions have grappled with this issue, what the evidence on the effectiveness of divestment suggests, and other related issues.  We will also begin to study the effect that divestment might have on Skidmore’s endowment and other investments. 

As we develop some clarity on these issues, we will begin a process in which we will engage the entire Skidmore community, including faculty, staff, students, and alumni.  We anticipate that people will have a lot to say – and so much the better.  Although we have yet to decide on exact timing and format, we would anticipate beginning this engagement towards the end of this semester or the very beginning of the Spring semester.  Rest assured, we intend to spread a wide net as we consult with the Skidmore community.  Finally, we aim to provide the President and Board of Trustees with our recommendation by May 2014.

As we move further along in this process, we will send along additional updates.  We look forward to engaging with the community on this important topic.  In the meantime, if you have any comments or questions, please feel free to send them my way.

All the best,
Jim Kennelly