Word: acsr
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...CCSR on how the University ought to vote its shares. The ACSR and CCSR handle issues of social responsibility, while the Harvard Management Company—which oversees the University’s endowment—addresses proposals regarding corporate governance...
...Harvard investments in South Africa. That same year, seniors established the Endowment for Divestiture, with the intention that Harvard would receive the money only when it divested. The end of the hunger strike in the spring of 1983 coincided with a meeting of the Advisory Committee on Shareholder Responsibility (ACSR), comprised of students, faculty and alumni. The Harvard Corporation—the University’s governing body—controls Harvard’s investment portfolio, while the ACSR makes nonbinding recommendations to the Corporation on ethical questions concerning Harvard’s investment policies...
...ACSR recommended that the Corporation use the Sullivan Principles, which provided humane guidelines for the operation of companies in South Africa, as a minimum standard for the endowment’s investment practices. At the same time, in 1983, 37 of the 39 companies in which the University owned stock had signed the Principles, but some divestiture proponents argued that not all of the signatory companies had actually lived up to the document’s stipulations...
...ACSR held a public hearing early in 1984 to ascertain the opinions of members of the Harvard community before voting on the issue...
...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...