Students for Justice in Palestine’s divestment proposal, the Board of Trustees ruled, ‘did not meet the criteria’ stipulated in the statement and had to be rejected.
By Dion J. Pierre, The Algemeiner
The Rhode Island School of Design, which shares the College Hill section of Providence, Rhode Island, with Brown University, has rejected a proposal to adopt the boycott, divestment, and sanctions (BDS) movement against Israel, dealing a major tactical defeat to the anti-Zionist movement in higher education.
Divestment from Israel was an idea put forth by Students for Justice in Palestine (SJP), a terror-affiliated network of organizations operating on college campuses across the US, during fall semester, according to a statement issued by the college.
RISD administrators agreed to consider it and forwarded the question to two committees and the Board of Trustees, which determined on Jan. 9 that nothing happening in Israel and the Palestinian territories falls within parameters laid out in the college’s “Statement on Divestment.”
Issued in 2015, the Statement on Divestment permits the college’s investment decisions to be influenced by politics — or, in the college’s own words, “political and social considerations” — “in rare circumstances … when a proposed investment or divestment implicates an issue of importance to RISD as an institution and to its constituents as a whole.”
Students for Justice in Palestine’s divestment proposal, the Board of Trustees ruled, “did not meet the criteria” stipulated in the statement and had to be rejected.
In explaining their decision, RISD’s trustees stressed the college’s mission “to educate its students and the public in the creation and appreciation of works of art and design, to discover and transmit knowledge, and to make lasting contributions to a global society through critical thinking, scholarship, and innovation.”
They continued, “The decision is also informed by our obligation to consider all constituencies, our fiduciary duty as Trustees, and our commitment to preserve the future long-term sustainability of the institution.”
Speaking to The Brown Daily Herald on Tuesday, RISD student and SJP member Jo Ouyang denounced the college’s decision, saying that it “came across like a slap in the face” and implying that the board of trustees acted from insidious motives such as “absolving themselves from their complicity in the genocide in Palestine.”
The Rhode Island School of Design is not the first higher education institution to refuse demands for BDS.
Trinity College, for example, did so in November, citing its “fiduciary responsibilities,” as did Chapman University, the University of Minnesota, Oberlin College, Brown University, and Williams College throughout 2024.
In so doing, they may have spared themselves devastating, self-inflicted injuries. According to a recent study conducted by JLens, a Jewish investor network that is part of the Anti-Defamation League (ADL), colleges and universities will lose tens of billions of dollars from their endowments if they surrender to demands for BDS.
The losses estimated by JLens are cataclysmic. Adopting BDS, it said, would incinerate $33.21 billion of future returns for the 100 largest university endowments over the next 10 years, with Harvard University losing $2.5 billion and the University of Texas losing $2.2 billion.
Other schools would forfeit over $1 billion, including the University of Pennsylvania, Stanford University, and Princeton University. For others, such as the University of Michigan and Dartmouth College, the damages would total in the hundreds of millions of dollars.