Yale Daily News - Week of March 4, 2022

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NEW HAVEN, CONNECTICUT · FRIDAY, MARCH 4, 2022 · VOL. CXLIV, NO. 15 · yaledailynews.com

Yale pressed on divestment, diversity Yale reports holding in fracking giant in the fossil fuel industry violate state law. “I’m shocked and dismayed by Yale’s decision to invest tens of millions of dollars in Antero, a fossil fuel corporation with a horrifying track record of violations of environmental law, threatening our planet and our futures,” said Josephine Steuer Ingall ’24, a member of the Endowment Justice Coalition. “There is no justification for an academic institution to seek to profit from activities which are rapidly rendering our planet uninhabitable. Yale must, must, must do better.” Antero first appeared on the University's 13F filings in the second quarter of 2015. The University’s equity stake in Antero soared as high as $230 million at the end of the second quarter of 2016. At the end of the third quarter of 2018, Yale held $78 million worth of Antero stock, the filings revealed. Yale reduced these direct holdings by 99 percent during the end of 2018 and only held $357,000 of Antero stock at the end of the fourth quarter of 2018. The drop in investments came after a February 2018 teach-in where student activists criticized Yale’s investments in the fossil fuel industry, especially in Antero Resources. At the event, Rachel

BY CHARLOTTE HUGHES STAFF REPORTER Two years after selling off its $80 million equity stake in the Appalachian fracking corporation Antero Resources, Yale again has millions of dollars in investment holdings in the company, according to the University's latest 13F form. The University’s Dec. 31, 2021 Securities and Exchange Commission filing states that Yale held $41 million worth of shares in the fracking company at the end of 2021. Previously, Antero Resources had not appeared on Yale’s filings since the last quarter of 2018, after there were widespread calls for divestment from student activists, including those from the Endowment Justice Coalition. A recent Yale School of Public Health study found that the carcinogenic chemicals used in fracking — which is the process of extracting natural gas or oil from shale — can contaminate the air and water in nearby communities. A representative for the Yale Investments Office said that the office has a policy of not commenting on individual investments. The news was met with criticism from the Endowment Justice Coalition, a Yale student activist group which filed a complaint on Feb. 16, 2021 alleging that the University’s continued investments

SEE FRACKING PAGE 4

ZOE BERG/PHOTOGRAPHY EDITOR

Amid leadership turnover at Yale’s Investments Office, it is unclear how much progress has been made towards Yale’s efforts to lead firms to diversify.

YIO without diversity update BY MICHAEL NDUBISI AND CARTER DEWEES STAFF REPORTERS More than a year since Yale Chief Investments Officer David Swensen GRD ’80 demanded that Yale’s money managers diversify their firms or risk Yale pulling its assets, the University has not published the metrics it is using

Climate progress questioned

PAULA PINEDA/CONTRIBUTING PHOTOGRAPHER

The results of Yale’s annual Sustainability Survey were released in February. The survey asked students and staff how they felt about climate change. BY ISABEL MANEY STAFF REPORTER Students are becoming increasingly disillusioned with the University’s progress on sustainability, according to the results of the Yale Office of Sustainability’s most recent Sustainability Report.

The report, which was released in February, outlined the results of a survey sent to students and staff this fall, which included general sustainability knowledge questions, questions on respondents’ sustainable behavior, opinions on environmental issues and questions soliciting feedback on the University’s sustainability

initiatives. The survey was last distributed in 2018. According to the results, students' views toward sustainable progress have become more pessimistic since the survey was first released in 2018. About five percent of first-year students in 2018 strongly agreed that Yale was a leader in sustainability. Almost none of the fourth-year students in 2021 strongly agreed. Similarly, less than 20 percent of both students and staff strongly agreed that their peers or coworkers cared about the environment. “I don't think that there's much guidance or efforts promoted to students, [so] that even the ones who would choose to live sustainably if they could, don’t have access to those resources,” said Zoe Kanga ’24, a Yale conservation scholar. “There's no

to assess firms or provided an update on its follow-through. Swensen’s letter, released in October 2020, came in the wake of racial justice protests and social turbulence that defined the summer of 2020. He wrote to take a “more systematic approach” to addressing the lack of women and racial minorities in the asset management industry. The let-

ter outlined a goal of diversification in the firms the University uses to manage its funds. Though it did not dictate metrics to measure the firms’ progress towards diversifying their ranks, the letter stipulated that Yale would administer a yearly survey of the number of “diverse profesSEE DIVERSIFY PAGE 4

Aminé to close Spring Fling GAMZE KAZAKOGLU STAFF REPORTER After a three-year hiatus, Spring Fling is finally returning to Yale. The year-end concert will feature a four artist lineup: Japanese Breakfast, Masego, Sofi Tukker and Aminé. Spring Fling will take place on Old Campus on May 2, the first day of reading period. Student bands will kick off the day-long festival, followed by Japanese Breakfast, Masego and Sofi Tukker. Headliner Aminé will close out the show. The previous two

editions of the concert, originally to take place in 2020 and 2021, were canceled due to the COVID19 pandemic. “What we really love about the Yale student body is that it clearly has a deep love and respect for music, and art and creativity in general,” Spring Fling Committee co-chair Olivia Marwell ’24 said. “That’s one of the things that we like to focus on — finding artists who are in line with those values. Not people who are doing the norm, but people who are pushing their artistic expression. The artSEE SPRING FLING PAGE 5

SEE SURVEY PAGE 4

Elicker unveils budget BY YASH ROY AND SADIE BOGRAD STAFF REPORTERS After local legislators spent much of 2021 fighting a crippling budget crisis, Mayor Justin Elicker proposed a no-cuts budget on Tuesday focused on reinvigorating city services and stabilizing New Haven’s economy. Elicker submitted the budget to the Board of Alders and shared it with the public at a press conference at City Hall. Elicker is asking for more funding for schools, youth services, public

YALE DAILY NEWS

The mayor’s proposal increases funding for libraries, housing inspections, police and more. SEE BUDGET PAGE 5

CROSS CAMPUS THIS DAY IN YALE HISTORY, 1973..

The New Haven Board of Alders rejects the University's plan to build two new residential colleges. Without approval, the University must find other ways to deal with expanding enrollment.

INSIDE THE NEWS DOMINUS TEACHES 'JOURNALISM' AFTER WOODWARD PAUSE PAGE 3 UNIVERSITY

COURTESY OF SPRING FLING COMMITTEE

Japanese Breakfast, Masego, Sofi Tukker and Aminé will perform at Spring Fling, which will take place on Old Campus on May 2.

ISOLATION

TAXES

UKRAINE

In interviews with the News, students reported discrepancies in isolation duration policies.

New Haven's most recent revaluation showed a significant spike in the value of Yale's tax-exempt properties.

At a rally on Cross Campus on Sunday, students and locals gathered to stand in solidarity with Ukraine.

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