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Committee needed for responsible investment

(08/24/17 9:50pm)

This May, 62 percent of ExxonMobil shareholders voted in favor of the company reporting the impacts of climate change on its business. In 2016, shareholders of Fluor, a major global engineering firm with over $19 billion in annual revenue, voted to require the company to formally report all of its political contributions. Yet, due to the $5 billion Rice University endowment’s sole focus on investment-picking, had it been an investor in either of these companies, it would have abstained from these votes, a de facto vote against these proxy resolutions for positive social change.