Welcome to Stanford University’s Advisory Panel on Investment Responsibility & Licensing (APIRL) website. The APIRL, working in the best interest of Stanford University, advises the University Board of Trustees and the President by addressing ethical concerns related to potential endowment-held securities whose business policies and practices could cause "substantial social injury." The panel is active only during the academic year.

Advisory Panel on Investment Responsibility and Licensing

In 1971, Stanford University adopted the Statement on Investment Responsibility and established the Advisory Panel on Investment Responsibility and Licensing (APIRL). The independent panel advises Stanford University’s President and Board of Trustees on the social and environmental impact of Stanford’s investment and trademark licensing activities, as well as provide a public forum for the Stanford community. The Advisory Panel is responsible for research, analysis, and policy recommendations concerning social and environmental issues as well as receiving and providing further action on Requests for Reviews submitted by members of the Stanford University community.


The University President has final approval of the 12 members selected from the Community and nominated by constituent peer groups. The students are elected by the Associated Students of Stanford University (ASSU), the faculty are elected by the Senate of the Academic Council, the staff are appointed by Stanford University's President, and the alumni are appointed by the President in consultation with appropriate University representatives, including the Stanford Alumni Association. All APIRL members serve for one academic year and may be asked by the President to continue their service. 


APIRL reviews business policies and practices that might cause “substantial social injury”.  With concern to social and environmental issues, the APIRL’s four primary activities are as follows:

  1. Develop and/or amend core social issue policy statements and proxy voting guidelines for shareholder resolutions;
  2. Receive, review, and provide analysis on Requests for Reviews and make recommendations to Stanford University’s President and Board of Trustees on future action;
  3. Research and present written reports, providing background information in support of the Panel’s action recommendations;
  4. Monitor, research, and report on issues and trends in Investment Responsibility.

The full charge to the APIRL can be found here


If you have additional questions about Investment Responsibility, the APIRL, becoming an APIRL Representative, or the Investment Responsibility Research Analyst Internship Program, please send an email to:

ircommunications (at) smc.stanford.edu