An initiative announced in April of last year, the advisory committee on Washington University’s endowment will be formed and begin its work when Scott Wilson, the University’s new chief investment officer, assumes his position Nov. 27.

Wilson will replace Kimberly Walker, who left Washington University at the end of 2016. In the 10 months since her departure, Eric Upin has served as the interim chief investment officer (CIO) as the University searched for a replacement.

Stephen Huber | Student Life

Participants of the April 2014 Brookings sit-in against fossil fuel investments camp out outside Brookings Hall. Today, students in Green Action want the University to divest from fossil fuels.

Last spring, Fossil Free WashU, a campaign under the student organization Green Action, pressured the University to divest from the top 200 fossil fuel companies. Chancellor Mark Wrighton, however, responded in a statement that “the investment policy will not be changed or used to support political, social, or other agendas.”

Although there was no change in the University’s policy, Wrighton announced the establishment of an advisory committee to the chancellor on the University’s $8 billion endowment in conjunction with the hiring of the new CIO, specifically looking at transparency of investments.

Even though the University won’t divest, the future creation of an advisory committee and an administrative commitment to greater investment transparency is a step in the right direction, according to sophomore Allie Lindstrom, executive member of Green Action and Fossil Free WashU.

“It’s not divestment, which is what we want, but allowing us to know where we’re invested in is really huge for not only us but anyone else who’s curious about our practices,” Lindstrom said. “It seems to be something that the chancellor is very committed to, which we’re very happy about.”

Fossil Free WashU members are planning to meet with Wilson at the beginning of next semester.

According to Wrighton, the University is taking steps to be more open with its investments, not only by creating an advisory committee but also by making its annual report public.

“We will work with the Investment Management Company to produce an annual report that will be publicly available,” Wrighton said.

According to Upin, the implementation of increased investment transparency is a complicated process for the University’s Investment Management Company.

“We are looking at and discussing actively how we can provide that [transparency] without compromising any legal and confidentiality requirements,” Upin said.

The Washington University Investment Management Company cannot disclose certain legal documents because of confidentiality agreements. Even with these limitations, Fossil Free WashU is confident that under the new CIO and with the creation of the advisory committee on the endowment, there will be an increase in investment transparency across the University.

“I think our interests align with theirs—they want it to be transparent, and we want it to be transparent,” Fossil Free WashU member and sophomore Khalid Mahmood said.

Lindstrom agreed, although she believes that administration’s goal is less for accountability and more for student understanding.

“I think we want transparency more for accountability, whereas the administration wants transparency because it’s important for us to understand how we function,” Lindstrom said. “And I think those are both important goals that don’t need to conflict with each other.”