Pitzer College Must Divest from BlackRock

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Two years ago Pitzer College created a fossil fuel-free fund to boast itself as the first college to divest from fossil fuels. However, with that money, they chose to reinvest with the asset manager BlackRock. BlackRock, worth over $6 trillion, is the largest investor in coal power, detention centers, private prisons, deforestation, weapon manufacturing, and companies drilling in the arctic. By partnering with BlackRock, Pitzer College directly contributes to each of these issues.

Having done our own research we discovered the asset manager Boston Common Asset Management, a socially responsible investment firm that falls closely in line with the core values of Pitzer College. This firm is owned by a woman of color dedicated to sustainable and responsible, long-only, global equity investment strategies.

Our proposition is to divest from BlackRock and use that money to reinvest either completely or partially with Boston Common Asset Management or other socially responsible asset managers with similar business practices.

Because of the nature of how this discussion began the Latinx Student Union took it upon themselves to make a list of demand, which we will back and support.

This list is:

  1. The removal of Robert Fairbairn from the Board of Trustees.
  2. A full divestment and dissociation with BlackRock, including a Statement from Pitzer itself regarding why, to be drafted by LSU.
  3. The establishment of a committee on ethics for future hiring and appointments, including representatives from each affinity group
  4. Establishing a committee to oversee where Pitzer invest its endowment
  5. Full disclosure as to where Fairbairn and BlackRock’s money has been spent by Pitzer, as well as Pitzer’s investments and donors.
  6. Divestment from companies directly profiting from private prisons and immigrant
    detention centers
  7. Movement of all money donated in the past associated with private detention centers to be funneled to scholarships and resources for undocumented students, including a full-time staff member to assist undocumented students with applying to Pitzer college, as well as assisting them during their time at Pitzer and post-grad life.
  8. A committee on sanctuary to be reformed and active in decision-making
  9. Unlimited mental health screenings for students impacted by migration, undocumented students
  10. Establishment of an “UpwardBound type” program for undocumented students in Adelanto, CA
  11. A discreet physical space on campus for undocumented people/ or the establishment of a Pitzer affinity group for undocumented students
  12. Ensure protections for undocumented workers and ensure ethical food sourcing as to limit the exploitation of undocumented workers

Sign this petition to support our divestment movement!