Students for Gaza SFSU announced Thursday that San Francisco State University has pulled investments from three companies the university claims do not meet its…
The move shifted SFSU’s $163 million investment portfolio after pro-Palestinian student protesters made headways in meeting with university leaders to discuss demands.Students for Gaza SFSU announced Thursday that San Francisco State University has pulled investments from three companies the university claims do not meet its human rights standards following demonstrations from pro-Palestinian activists and groups.
In the agreement reached with students, the university will sell its corporate bond position in aerospace and defense company Lockheed Martin, stock positions in Italian defense company Leonardo, and U.S.-based data analysis enterprise Palantir Technologies. The move shifted SFSU's $163 million investment portfolio after pro-Palestinian student protesters made headways in meeting with university leaders to discuss demands.
Students at the university camped out and protested for three weeks in a nationwide call for universities to disclose and divest from what they categorized as companies profiting from Israel's occupation of Palestinian land and the war in Gaza. "Through the work of the many students involved in GUPS at SFSU and SFG , we have been able to successfully ensure our money is not funding GENOCIDE ‼️" read an Aug. 27 announcement on Instagram by Students for Gaza at San Francisco State.
Jeff Jackanicz, the president of the SF State Foundation, issued a statement last week thanking students who participated in the workgroup. In the campus-wide email, Jackanicz also outlined the proposed changes to the foundation's environmental, social, and governance strategies. "We believe we have forged a region-neutral plan that strengthens our environmental, social, and governance investment strategy and will have broad-reaching positive impacts while continuing to provide critical support to our students," Jackanicz wrote."We have been lauded for being a leader in ESG investment before, and with credit to Students for Gaza, our revised policy affirms our leading role in values-driven advising," Jackanicz wrote.
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