January 26, 2012 Meeting – Carleton Responsible Investment Committee

Location: Upper Sayles

Time: 8:30 am

Present Chris Clark, Joe Concannon, Mihaela Czobor-Lupp, Ellen Farnham, Daniel Groll, Fadi Hakim, Duncan Sallstrom, Kristen Vellinger

Absent Danette DeMann, Sara Hooker, Forrest McKnight, Fred Rogers

Secretary: Claire Milsted

New Member: We have a new member, Duncan Sallstrom ’15. He introduced himself and we briefly discussed what we have been up to regarding the report for the trustees.

Meeting with the Trustees: We have a meeting with the trustees in two weeks. It will on Thursday, February 9th be from 12:15-12:45 PM in the Alumni guest house.

The most controversial element in our discussion will be the proxy policy. Fadi will give an introduction focusing on the proxy policy; we will only spend a bit of time on the three new resolutions (Risks of Aggressive Tax Strategies at Amazon, Offshore Banking Secrecy Risks at Goldman-Sachs, and the BPA resolutions at Coca-Cola and Safeway.)

The trustees may ask difficult questions about our resolutions, particularly hydraulic fracturing. It is important to avoid overselling our case; that makes us look less credible. Instead, we should stress that this confusion and lack of information highlights the need for disclosure, the very policy which most of these resolutions advocate.

Proxy Policy Wording

The current wording makes it ambiguous how additional resolutions will get added to the approved list. We should clarify that in order for a resolution that has come up at least twice to be added to the list, the trustees must approve of it.

Future Plans:

We will not meet next week (February 2^nd, 2012) but we will meet the week after (February 9^th, 2012, the day of our meeting with the trustees.)

Some students from Macalaster will be coming to Carleton on February 11^th to discuss responsible investment with us.

This year’s REC conference is in Chicago. We should start figuring out who is going, what mode of transport we will use (we-car vs. Megabus vs. Greyhound). Accommodations will also be an issue; we should aim to have people stay with friends or family to save money.