To: The Wellesley College Community
From: President Paula A. Johnson and Debby Kuenstner, Chief Investment Officer
Re: Update in Support of Student Sustainability Proposals
Date: March 19, 2021

This spring, the College will engage in a series of interrelated actions that, taken together, will shape our response to the urgent challenge of climate change. We want to share with you some of the next steps in this collective effort, how they build upon each other, and how you can contribute your voice during this season of sustainability at Wellesley.

Already, much has been accomplished, as was detailed in last month’s update on Wellesley’s response to climate change. The endowment portfolio exposure to fossil fuels has been reported, the Investment Office has made no new commitments to private equity oil and gas funds, and the Investment Committee decided at its March 2020 meeting to defer making final recommendations to the board of trustees until students, faculty, and staff have had a chance to respond to the Subcommittee for Investment Responsibility’s (SIR) call for community-wide action.

We are especially encouraged by the collaborative, comprehensive approach our community has demonstrated as we move toward a sustainable future. This mutual effort, which is drawing on the hard work and recommendations of students, faculty, and staff, represents shared responsibility and decision-making at its best. These recommendations are part of a broad response that, through this process, will reflect our entire community.

First up in a series of actions taking place this spring, on Tuesday, March 23, students will have an opportunity to vote on the recommendations “ES/ECON 199: Fossil Fuel Divestment: Student Action at Wellesley” students compiled after carefully assessing possible carbon reduction measures throughout the fall. The students have done terrific, difficult work, demonstrating  exemplary leadership and providing the quality of analysis and argument that is necessary to effect change. They have shared their findings with College Government and have been tabling across campus to raise awareness and answer questions about the sustainability proposals on the ballot. They have also compiled digital resources to help inform students, including this comprehensive FAQ on ballot questions.

Each of their recommendations includes equity measures to address differential impacts on students. We want to reiterate that should students choose to support the recommendations from ES/ECON 199, the College is committed to addressing equity issues that may arise from the adopted measures. Throughout this process, we have been impressed by our students’ steadfast focus on equity concerns. If approved as part of next week’s student vote, we would hope to implement the recommended changes by the start of the next academic year.

Looking ahead, on April 7, students, faculty, and staff will have an opportunity to come together at a virtual forum addressing the College’s new energy master plan and the steps needed to reach carbon neutrality, developed through the work of E2040, a working group of the board of trustees launched in 2019 to help Wellesley move toward its sustainability goals. Presentations will also cover the path for endowment action and the sustainability recommendations students, faculty, and staff will be asked to consider this spring. An audience Q&A will follow those reports. Following that meeting, faculty and staff will have a chance to review recommendations being presented by the Advisory Committee for Environmental Sustainability and give their feedback via a survey. The recommendations will be voted on by faculty at the April Academic Council meeting.

Students, faculty, and staff have all stressed the urgency of taking action on climate change in many different ways. Whether by voting on the ES/ECON 199 proposals on next week’s ballot question if you are a student, or by sharing your thoughts in the Sustainability Committee’s survey next month if you are faculty or staff, all members of our community have an opportunity to add your voice to the process of making decisions about this important issue. Importantly, if the Wellesley community can come together and commit to taking collective action, the board is favorably inclined to adopt an endowment action in April in support of addressing climate change.

We are heartened by the way the community has joined together to address this complex challenge. Together, we will move toward a sustainable future at Wellesley.