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Date
The following is what I consider a model, or best practice, for those of us in academia project management. Not only do we teach project management and sustainability, in some cases, we are also participants in the university structure. In other words we are part of the (sustainability) solution. And, because we have 401Ks and other investments, it is also good to know.
We’ve talked before about some of the drivers for wanting to be more sustainable. One of the biggest drivers and most understood by upper management, is the bottom line, the (p)rofit part of the triple bottom line. That part of the triple bottom line includes investments, particularly in public traded companies. If people are more willing to invest in companies that are socially responsible than are in companies than companies that are not, where to do think the money will go? What companies will have the most longevity?
Academia has a lot of money, at least some colleges and universities do. Looking at some of the endowments it is clear that they have opportunities (and need) to invest to grow their money, just like you and I. Boston University, the school I teach for, took their investment strategy one step further. They set up an Advisory Committee on Socially Responsible Investing (ACSRI). According to their website, their mission is: “to (a) represent a wide spectrum of the community (trustees, faculty, and students); (b) be knowledgeable about relevant, socially responsible investing issues in order to be able to engage in informed, thoughtful, and collegial consideration and discussion; (c) provide continuity and institutional memory on relevant policy issues; (d) advise the Board of Trustees on socially responsible investment policy issues by proposing written policies for the Board’s consideration; and (e) coordinate and facilitate communication on relevant policy issues.”
The committee was formed from a more or less “grassroots” movement of faculty and students who asked that the administration look at their investment strategies and perhaps alter it based on socially responsible practices of the companies getting their investment dollars. From time to time, the administration and Trustees of Boston University are urged by members of the faculty and student communities to alter investment holdings based on the company’s sustainability or socially responsible practices. That is why the ACSRI was formed. It is made up of trustees, faculty members and students “who are familiar with the University’s investment responsibilities.”
Their responsibility is to look at a variety of information about issues that are brought before them to determine the best investment strategies. The recommendations are then sent to the Board of Trustees for consideration. The first investigation centered on the issue of companies that manufacture firearms for the civilian retail market. A lengthy study was undertaken reviewing existing laws, the Second Amendment and various high court rulings as well as the BU policy. The results of any investigation by the ACSRI lead to direct recommendations to the Board of Trustees.
The second issue to be investigatedwill be whether or not to divest from fossil fuel interests. This project is a great example of the voice of the customer, students and faculty, getting together with the administration to drive investment in socially responsible companies. It is something that we, as project managers, either in academia or any other industry need to consider as it can affect our “bottom line.”
Posted
by
Dave Shirley
on: December 11, 2014 10:05 AM |
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