This Saturday, Jumboleaks posted on its website a "leaked document" of the university's investment holdings. The data is thus far unsubstantiated and administrators have not confirmed any of its contents. The list has now been circulated online, its controversy revolving around the university's investments in companies such as Monsanto, the world's leading producer of genetically engineered seeds and a corporate enemy of sustainability advocates.
Students at Tufts for Investment Responsibility (STIR) took no part in this leak. STIR was created in 2007 with the goal of raising awareness of a variety of issues concerning the endowment investment process. While endowment transparency has been one of the questions STIR has addressed, we have striven to ensure that our goals have been pursued through respectful collaboration and discussions with administration. University administrators and students, for example, worked to form the Advisory Committee on Shareholder Responsibility (ACSR), a body of Tufts students that advises the university on socially responsible investment decisions and is privy to private financial information. Although ACSR is essentially a compromise between full endowment transparency and the administration's decision to keep its holdings confidential, similar committees at Harvard, Brown and Wesleyan have been remarkably successful at attaining the ultimate goal of socially responsible investment.
While we should always move toward increased transparency in the investment process, STIR regrets the practice of leaking confidential documents. At the end of the day, the information, if true, was confidential and entrusted to certain individuals. STIR shares Jumboleaks' belief that "Tufts can and should hold itself to higher standards of investment ethics, particularly considering our image as a leader in international affairs and global citizenship" and supports the call for transparency. However, rather than focusing on the leak, we should be questioning the environment that led to these actions. It is important that the controversy about the companies on the investment list does not overshadow the real concern, which is the lack of transparency between the administration and students. That is not to say the leak was justified; we must encourage transparency and open dialogue in all aspects of our university, including in dealings with school administrators. Rather than seemingly conspiring against the administration, STIR wishes that members of Jumboleaks had engaged the administration or student body collaboratively (in the same way that Jumboleaks seems to wish the administration would engage with them).
If we are going to pursue responsible investment as a community, we must be willing to engage with each other in good faith, share information and create a dialogue driven by ideas on how we can make our school a more responsible investor. STIR takes these factors into account when making decisions. Our current community investment campaign exemplifies this, as community investment would signify that the school, administration and community were working together to promote the best interests of all. Community investment is a responsible investment opportunity that creates positive, constructive and collaborative change. Furthermore, community investment is a simple, financially safe step for a university to take toward becoming a more socially conscious investor, while investment transparency can be a more difficult and uncertain one.
Ultimately, the site and its information have spurred discussion over the social and political importance of the endowment. Many students recognize that the university's powerful reputation as a leader in international affairs and global citizenship can and should be mirrored in how we approach our investments. Many also realize that their personal beliefs and causes could be at odds with the financial dealings of Tufts. STIR believes that the awareness this raises and discussion it sparks have a powerful effect and urges students to do their own research about the validity of Jumboleaks and the ethical reputations of the companies included on the alleged investment holdings list. Hopefully, we can turn this controversial leak into a more extended, productive and collaborative discussion about the most effective and socially conscious way to manage our endowment.
