Universities Face Divestment Calls Over Investments in Israel: But What Does That Look Like?
Across universities nationwide, a familiar chant from protesters has been resonating: "Disclose, divest, we will not stop, we will not rest." The protesters are calling on their universities to sell off investments in companies with business ties to Israel, citing the country's invasion of Gaza as the reason for the divestment demands.
The protests vary in scope. For example, at Columbia University, the demands include disinvestment from a wide range of companies such as Google, Amazon, and Airbnb. Meanwhile, Cornell University protesters are targeting defense contractors like Boeing and Lockheed Martin. Meanwhile, student groups at universities such as Yale and Cornell are also urging their administrators to divest from investments in weapons manufacturers.
Student protesters call for divestment from Israel (CBS News/YouTube).
Some organizers are merging the demands for fossil fuel divestment with calls for ending investments linked to the war in Gaza. For instance, Columbia University's chapter of Sunrise Movement hosted a Reclaim Earth Day event at the university's encampment, highlighting the link between the climate crisis and the conflict in Gaza. This includes emissions from military equipment such as aircraft and tanks, as well as the production and deployment of bombs, artillery, and rockets, contributing to environmental damage.
While divestment is a symbolic victory for protesters, its practical impact is debatable. Most analysts agree that divesting does not significantly affect targeted companies. In fact, some argue that by staying invested, universities could influence corporate behavior more effectively.
For universities, divesting from companies with ties to Israel could also result in backlash from students, faculty, and alumni who support Israel. For instance, the University of California recently stated its opposition to calls for divestment from Israel, citing concerns about academic freedom.
Despite these challenges, divestment is technically possible. However, it can be a complex process due to the vast and diverse nature of university endowments, which often include investments in specialized private funds with restricted liquidity.
Endowments are crucial for university operations, funding investments, scholarships, and securing the institution's financial future. Therefore, divestment decisions are not taken lightly.
Despite the hurdles, protesters remain steadfast in their pursuit of divestment. They believe that achieving divestment would not only accomplish their goals but also create a moral victory by generating headlines and stimulating debate.
