The move comes following recent anti-war demonstrations on campus.
SGLC Unanimously Passes War Divestment Legislation
The Student Government of Loyola Chicago (SGLC) Senate passed legislation calling upon Loyola to alter their investment portfolio and divest from companies that profit off of war.
SGLC senator Hannah Kwak, who co-authored the legislation, said this was a victory for students who had been advocating for a measure like this for a long time.
“This has been a long term initiative, this is not the first step but it is a huge step,” she said. “The fact that it got unanimously voted yes on in the senate is huge.”
She said the SGLC hopes to have the initiative presented to the board of trustees by the summer, and that conversations with them will continue from that point on.
The initiative itself named several companies which Loyola is currently invested in, including Raytheon Technologies, an aerospace defense company, and others. Kwak said the hope is the divestment process mirrors the process Loyola is currently undergoing to divest from fossil fuels, another effort the SGLC advocated for.
In February, students organized primarily by the Students for Justice in Palestine (SJP), led an anti-war protest in Damen Student Center, The Phoenix reported. The demonstrators called for the university to divest from corporations profiteering from war.
SJP applauded the SGLC’s legislation, citing specifically the relation these companies have in the conflict between Israel and Palestine.
“Our next step is to apply pressure on the board of trustees and ensure that they are being held accountable,” SJP said in a statement on their Instagram page. “The unanimous outcome is a testament to your time and effort to SJP along with several organizations that supported us throughout.”
Kwak said that as she ascends to the role of president as the SGLC, a new senator will be selected to write a resolution which will ensure the university does not reinvest in these companies in the future.
“SJP and many other groups on campus have been advocating for this initiative for years,” Kwak said. “This initiative did not just start with that recent event, it’s been happening, it’s been student advocacy, I am just one person in a huge community of people who are advocating for this change.”
Featured image by Leen Yassine | The Phoenix