The Carleton Responsible Investment Committee (CRIC) is hereby formed to advise the Investment Committee of the Board of Trustees via the Vice President and Treasurer regarding ethical and social issues that arise in the management of the college endowment.

A. Membership

CRIC will consist of nine voting members, including four students, three faculty and two staff representative. The Vice President and Treasurer will participate as a non-voting advisor. The Vice President and Treasurer is responsible for reporting recommendations to the Board of Trustees.

Student representatives will be selected by the CSA Senate and by the active student members of CRIC, with one student simultaneously holding a seat on the Senate and three students selected from the student body at large. Students appointed at large will serve two year terms. Faculty will be selected by the Faculty Affairs Committee. Staff will be selected by the President of the College following a nomination process. Recognizing the need for members to master complex issues and the desirability of continuity in deliberations, faculty and staff will serve three year terms. Initially, term lengths will be staggered. The members will elect one student and one faculty member annually to co-chair CRIC.

The role of CRIC is advisory, and the Investment Committee has final responsibility for the investment decisions of the College.

The primary function of CRIC will be to form voting recommendations on shareholder resolutions pertaining to ethical and social issues. These recommendations will be presented for approval to the Investment Committee. CRIC can choose the number of shareholder resolutions they would like to review each year. CRIC may also wish to establish guidelines for voting shareholder resolutions, and can approve such guidelines by a 2/3 majority vote of members present.

In addition, CRIC will set an annual agenda of limited focus to discuss topics including but not limited to the transparency of the investment portfolio, the ethical nature of particular stocks, investment in social funds, the filing of shareholder resolutions and community investment opportunities. Members of the Carleton community will be able to suggest topics of discussion directly to the appropriate Committee representatives.

C. Procedure

CRIC will hold formal meetings with all members at least once a term. Subgroups of CRIC will also meet on a more regular basis throughout the term.

Approval of an action will be decided by a majority vote of members that are present. A quorum of six members is required for a vote to be taken.

CRIC will require a certain amount of information in order to successfully complete its tasks. The College may subscribe to appropriate resources, such as the Investor Responsibility Research Center (IRRC), to provide CRIC with information regarding shareholder resolutions. Additionally, the College will provide a list of their investments, and will update the investment information on a regular basis.

CRIC will have occasional public forums to gauge the opinions of the campus regarding the topics it is considering. CRIC members are responsible for soliciting input from the body they represent. In addition, CRIC will prepare an annual report of its activities during each academic year which will be made public. Additionally, one year after its formation, and every second year following, the CRIC will review the effectiveness of the membership, functional, and procedural guidelines and will propose any changes determined necessary to appropriate governing bodies.