On Nov. 19, 2025, Smith Alums for Justice in Palestine (AJP) and Students for Justice in Palestine (SSJP) submitted a proposal urging the Advisory Committee on Investor Responsibility (ACIR) to develop an Ethical Investment Policy and increase transparency regarding the college’s financial investments.
This proposal follows SSJP’s first proposal in December 2023, which called for divestment from all weapons manufacturers. After two draft revisions, SSJP and the ACIR failed to reach an agreement in March 2024, prompting a 13-day student occupation of College Hall.
The ACIR, a subcommittee of the Board of Trustees’ Investment Committee, assesses “matters of social responsibility and the Smith College endowment,” according to its website. The committee, who meets approximately once per year, includes student, faculty, staff and trustee representatives and determines whether to bring proposals forward to the Investment Committee and the Board of Trustees for approval.
When reviewing proposals, the ACIR considers five factors: alignment with the college’s mission, societal significance, societal impact, financial impact and community consensus.
The Nov. 19 proposal was created after 568 members of the Smith community signed on in support between October and November 2025. Additionally, more than 830 alumni signed a pledge between May and October 2025 to withhold donations until the college divests from weapons manufacturers. AJP members also met with President Willie-LeBreton on June 23, 2025, to discuss the possibility of implementing an Ethical Investment Policy.
The proposal references past student-led movements for divestment at Smith, including the college’s environmental initiatives for climate action, supported by the Smith Study Group on Climate Change, Divest Smith College and the Student Government Association.
“We are recommending an investment commitment that includes human rights because Smith’s divestment from fossil fuels and investment in ESG [Environmental, Social and Governance] has proven effective,” the proposal states. According to AJP, between 2019 and 2024, Smith exceeded its projected budget following fossil fuel divestment, which they argue demonstrates the possibility of socially responsible investment.
The proposal also argues the other Five Colleges — Amherst, Hampshire, Mount Holyoke and UMass Amherst — have taken steps toward ethical investment or increased financial transparency, as have other institutions and organizations both nationally and internationally.
“Smith has a chance to make history by taking a principled stance against mass atrocities devastating racialized peoples worldwide, and becoming the first historically women’s college and Seven Sister to do so,” says the proposal.
AJP further argues that continued investment in weapons manufacturers could pose financial and legal risks, citing a 2024 statement from the United Nations Principles for Responsible Investment warning potential liability tied to institutions’ human rights violations.
While the ACIR’s website states that the endowment is “not a tool for responding to global events not explicitly related to the college’s mission and day-to-day operations,” it encourages a variety of solutions, “including but not limited to enhanced reporting, targeted communication, impact investing and divestment.”
The proposal includes testimonials from students, staff, faculty and alumni.
“I’m a former Smith College trustee, and I know it is within the power of the board to take this action,” said one alum. “It will require bravery, but Smith teaches us that.”
“I want to have pride in [my] alma mater that can truly be on the right side of history and future making,” another alum said.
Some faculty members mentioned their involvement in Smith’s 1985-86 divestment from South African shares during apartheid, informing their advocacy for continued ethical investment practices.
AJP and SSJP are currently waiting to hear from the ACIR regarding a decision on the proposal.
AJP and SSJP’s full Ethical Investment Policy proposal can be found here, and more information on the 1985-1986 Smith student movement for divestment from South African shares is outlined here.
