University of North Florida
Board of Trustees
June 3, 2014
Osprey Club House at 1:45 p.m.
Greene, Joe Turner, Rad Lovett, Gordon Rakita, Lanny Russell, Joannie Newton
Lovett clarified that this subcommittee was charged with determining if the
university wanted to have a socially responsible investment policy, and if so,
what the policy would be. He further clarified that the UNF Foundation Board
had recently gone through the process of developing a similar policy.
Lovett introduced Mr. Skip Franz, who provided details on the UNF Foundation
Board’s efforts to develop a similar policy. Mr. Franz explained that the
impetus for the UNF Foundation Board to consider a socially responsible
investment policy was that various other trade organizations were doing so. He
stated, after evaluation by the UNF Foundation Board, there was consensus for
discussed differences between the UNF Foundation Board and the UNF Board of
Trustees, and determined that the UNF Foundation Board has a more limited
scope, relative to the UNF Board of Trustees, and that the decision regarding a
similar policy would not germane to the UNF Board of Trustees.
discussed UNF as a “green” university and asked if the UNF Foundation Board had
considered that in their discussions. Mr. Franz clarified that this had been
taken into consideration.
discussed the ramifications of the university and the Foundation for being on
the vanguard regarding the environment – to include practical application prior
to philosophical. Trustees also discussed the overall culture of the university
and where the greatest impact might be. Trustees commented on the role of the
university, as thought leader within the community, noting that the
university’s decision on the proposed policy would provide a cascading effect,
but would it be a sustainable conversation.
discussed student involvement, noting that there was a group of student who
were very passionate about the policy. Trustees discussed possible aftermath of
the policy, to include specific environmental issues such as fossil fuel, etc.,
and how the university might be charged by the proposed policy to take these
issues up. Trustees discussed how determinations would be made on issues for
the proposed policy – how to quantify consequences, how to determine
committee concluded that it was in the university’s best interest to have a
policy and members of the committee would work through the summer to draft a
policy, which would be presented to the full Board at their October meeting.
Lovett adjourned the meeting.