Word: acsrã
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...After a decade of heated debate, protests and hunger strikes, in May 1984 the ACSR voted narrowly in favor of recommending unilateral divestiture from companies that conducted business in South Africa. However, Harvard did not completely divest based on the ACSR??€™s recommendations. Instead, the Corporation subsequently chose a policy of selective divestment, which led to Harvard withdrawing investments from 15 companies. The Corporation argued that complete divestiture could do more harm than good for already marginalized black South Africans...
...only change regarding this standing policy was the adoption of the ACSR??€™s recommendation to keep third-party fund managers apprised of Harvard’s direct divestment decisions...
...Then-University President Derek C. Bok, who returned to Harvard last year as interim president, created the ACSR??€”a group of faculty members, administrators, alumni, and students—during a similar divestment debate over Angola in 1972. The 15-member committee was meant to advise the Corporation on the ethics of its investments...
Hugh Calkins ’45, chairman of the CCSR from 1969 until 1986, told The Crimson in 1980 that “the sudden shift in the ACSR??€™s votes may saddle Harvard with a reputation of inconsistency in the corporate world...
...concerns, he said at the time, was the accuracy of the information about corporate practices in South Africa, which had influenced the shareholder resolutions and the ACSR??€™s decision. He said that the Corporation would consider working with other universities and the Carnegie Foundation to set up a field office in South Africa to monitor the corporations...