Chapman University has rejected student demands to divest endowment funds from companies profiting off the war between Israel and Hamas, the university announced earlier this week.
Chapman faced pressure to divest from Students for Justice in Palestine, which established a pro-Palestinian encampment on campus in the spring. Though board members met with student organizers several times to discuss the proposal, they ultimately rejected divestment.
“We have a fiduciary responsibility to preserve and grow the endowment, which directly supports the mission of the university,” Jim Burra, investment committee chair for the Board of Trustees, said in a statement. “It is important that we make financial decisions based on risk and return.”
Chapman is one of several institutions to reject similar divestment proposals recently. Others include Oberlin College, Occidental College, Williams College and the University of Minnesota.
Brown University is still weighing a divestment proposal brought by pro-Palestinian protesters that the board will vote on next month, a decision that prompted Brown trustee Joseph Edelman to resign in protest, calling the looming vote “morally reprehensible.” San Francisco State University also appears to be moving toward divestment from weapons manufacturers, though a spokesperson has stressed the university has rejected “region-specific” divestment demands.
