Protestors attended the University of Minnesota Board of Regents special meeting Tuesday, asking the regents to vote no on a resolution establishing “institutional neutrality” on divestment requests of consolidated endowment fund holdings regarding Israel.
The resolution passed with eight votes yes, one vote no and three absences.
The decision to approve the resolution followed two previous Board meetings discussing the University’s endowment fund and potential neutrality as well as conversations with community members.
Protestors affiliated with UMN Divest Coalition and Students for a Democratic Society shouted several chants after the resolution’s approval, including “shame shame shame” and “Regents you can’t hide, we charge you with genocide.”
The resolution supports previous decisions made by the Board to divest from Sudan and fossil fuels, but declined requests to divest from “certain investments related to Israel.”
The resolution does not prevent future requests for divestment, Board Chair Janie Mayeron said.
“The resolution acknowledges that divestment in the future of certain investments held in our endowment may be appropriate in rare circumstances,” Mayeron said.
The Board tasked President Rebecca Cunningham with developing a process for submitting and evaluating future requests for divestments that aligns with four key provisions outlined in the resolution.
Future requests for divestments must show the investment is fundamentally incompatible with the University’s core mission and values, there must be a broad consensus and the process of evaluation must consider the potential social, political and financial impacts, according to the resolution.
Mayeron said the resolution does not address or prohibit students’ ability to protest.
Regent Robyn Gulley proposed alternate amendments pertaining to the word “neutrality” in the resolution and other language.
“It makes my brain spin to figure out how we are neutral and how we have other positions that are not neutral,” Gulley said.
The motion to amend the resolution failed. Gulley was the only Regent to vote no.
