Williams College Rejects Divestment Proposal, Delivering Blow to Anti-Zionist Student Movement
Williams College in Massachusetts has rejected a proposal to divest from weapons manufacturers that sell their products to Israel, delivering...
The post Williams College Rejects Divestment Proposal, Delivering Blow to Anti-Zionist Student Movement first appeared on Algemeiner.com.
Anti-Israel protesters outside Columbia University in Manhattan, New York City, April 22, 2024. Photo: USA TODAY NETWORK via Reuters Connect
Williams College in Massachusetts has rejected a proposal to divest from weapons manufacturers that sell their products to Israel, delivering a substantial loss to the anti-Zionist movement in the final days of the academic year.
The school’s Advisory Committee on Shareholder Responsibility (ACSR) has been considering the proposal, put forth by a group which calls itself Jews for Justice (JfJ), since January. This month, it produced a report of recommendations that will be forwarded to the Williams College Investment Committee of the Board of Trustees.
In addition to rejecting JfJ’s demand that Williams College divest from weapons manufactures that do business with Israel, ASCR declined to make itself a permanent standing committee and to recommend adopting controversial Environmental, Social, and Governance (ESG) principles which have been pushed by far-left groups aiming to use the market as an accelerator of social change.
“The ACSR recommends to the Investment Committee that the college not divest from companies that sell weapons, reconnaissance tools, or vehicles used by the Israel Defense Forces, and that the college not divest from weapons manufactures,” the report says. “Having recommended that … in the absence of other specific requests for divestment, the ACSR recommends to the Investment Committee that the college not adopt a blanket, exclusionary approach to ESG investing.”
ASCR cited a number of reasons why the move would be disadvantageous to the college, including that some of its funds are potentially “commingled.” Divesting from them, it explained, “could have a negative impact on investment performance out of proportion to the negligible impact on the targeted company.” It also said that JfJ’s demands are “broad” and target companies such as Boeing, which “not only builds missiles, but also satellite systems and commercial aircraft.”
ASCR also explained that there is no “shared understanding” among scholars and experts, nor among its own community, about the Israeli-Palestinian conflict that would make divestment from Israel as morally cogent as divesting from South Africa in the 1980s or, more recently, fossil fuels.
“The ACSR did receive feedback from some student groups, some faculty, and some staff in support of the Jews for Justice requests,” the report continued. “But oppositional perspectives within our community have also been expressed. The recent tumult on college and university campuses is but one reflection of the contentious nature of these complicated and emotionally charged issues.”
Students for Justice in Palestine (SJP) — a group that has been linked to terrorist organizations — and Jews for Justice — an anti-Zionist organization that represents a minority segment of opinion in the Jewish community — voluntarily ended its occupation of Williams College’s Sawyer Quad on May 18, conceding defeat after a two and half week standoff with the university that resulted only in promises of two meetings with administrators in the next four months.
“We ended the encampment, but we do not consider the outcomes of our negotiations to be a victory,” SJP told The Williams Record. “We will continue pressuring the administration until full divestment and implementation of ethical investment standards.”
Follow Dion J. Pierre @DionJPierre.
The post Williams College Rejects Divestment Proposal, Delivering Blow to Anti-Zionist Student Movement first appeared on Algemeiner.com.