SG votes against divestment resolution AR-3

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After weeks of debate, the Student Government Assembly voted against a divestment resolution, which would have asked the UT System Investment Management Company to pull investments from five corporations that the resolution claimed “facilitate in the oppression of the Palestinian people by the State of Israel.”  The Assembly voted against the resolution by a 11-23-1 vote Tuesday night. 

The resolution asked UTIMCO to divest specifically from Alstom, Cemex, Hewlett-Packard, Procter and Gamble and United Technologies because of “human rights violations,” according to the resolution.   

Katie Jensen, a graduate student representative, said the campaign to pass the resolution led to important dialogue, even though it did not ultimately pass.

“[Regardless] of the vote, it is a victory,” Jensen said.

Ethan Black, a Plan II sophomore who testified at Tuesday's meeting, said the resolution singled out Israelis.

“I truly want an end to settlement expansion as the authors of this resolution do, but divestment is not the way,” Black said.

UTIMCO CEO Bruce Zimmerman said UTIMCO makes investment decisions solely based on the financial interests of the University, and so would not have taken the resolution into consideration even if had passed.