Location: Upper Sayles

Time: 8:30 am

Present Mihaela Czobor-Lupp, Daniel Groll, Chris Clark, Danette DeMann, Fred Rogers, Max Bearak , Sara Hooker, Forrest McKnight, Kristen Vellinger, Iris Wang

Absent Joe Concannon, Ellen Farnham , Fadi Hakim

Secretary: Claire Milsted

Introductions

All of the present members introduced themselves and discussed why we are on CRIC.

Kristen sent out a handout over email to help the new members learn about CRIC. We went over the role of CRIC, including our relationship to the trustees, the proxy resolution process, and Ethvest/ICCR.

Possibilities for the year

We discussed all the possibilities for the year. They included:

-Educational events: Last year, CRIC hosted a convocation. We could do something similar this year.

-The Responsible Endowment Conference: Last year, Fadi and Kristen went to the Responsible Endowment Conference in New York. It was informative to learn about what other schools are doing in terms of socially responsible investing.

The REC has a website: www.endowmentethics.org . They also have a google group.

-Changes to the investment policy: Perhaps we could work out a better system with the investment committee, such as establishing rules about which types of proxies they vote for and which they do not. This way, we can present more resolutions to the investment committee, and make a bigger impact. Another way we could potentially be more efficient would be to focus on a single issue (such as political contributions or hydraulic fracturing)

-Information Availability: Currently, CRIC is informed of all of Carleton’s direct holdings, but the student body as a whole only can see the top ten holdings. We have considered requesting that all direct holdings be available to the students, and/or for a policy where we receive information (names of funds, etc.) about which funds we own as indirect holdings. This could open the door for us to possibly contact fund managers and mention our commitment to SRI.

-Outside campaigning: We could write letters to companies where we voted on proxies, and explain the rationale for our vote. We could also try to do similar things through the REC.

-Budget: CRIC has no specific budget; we get money for EthVest separately. Maybe a budget would be helpful in gaining institutional traction, on the other hand, going to a normal budget might make getting enough money more difficult.

Plans:

-Kristen and Forrest will investigate possible changes to the investment policy.

-We will do some sort of educational event. Iris will look into this.

-Later this term, we will get the list of Carleton direct holdings and begin our research.