Word: acsr
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Dates: during 1980-1989
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...leave open the chance that Harvard might sell its shares in a firm that "has failed to adhere to reasonable ethical standards" in the apartheid state. For four years this opportunity has gone unrealized, but last week brought the welcome news that the Advisory Committee on Shareholder Responsibility (ACSR) had for the first time in its history recommended selected divestiture from a company violating widely accepted standards of behavior in South Africa...
...million, according to the latest financial report--has neglected to meet the basic requirements of the Sullivan Principles, a set of equal employment and labor practice guidelines for U.S. firms operating in South Africa. And furthermore, the company has failed to respond adequately to repeated queries by the ACSR--which advises the Corporation on investment ethics about why it has not complied with the standards. Given these factors, in the words of one committee member, there is no reason for Harvard to remain holding Carnation stock...
...otherwise makes a mockery of the Corporation's stated belief that U.S. firms can set an example "of progressive labor and social policies" in the country. We therefore urge the Corporation to act quickly and favorably upon the ACSR's recommendation to divest from Carnation, which has clearly shown no interest in acting ethically in South Africa...
...ACSR, though, deserves credit for essentially expanding its own role beyond merely advising the Corporation on shareholder resolutions; it should continue to play an active role in focusing attention on the University's responsibility to invest ethically...
...university level, decentralization and rule-by-committee have become institutionalized. In addition to guaranteeing red tape and innumerable Mass Hall staff members, they have assured the existence of organs (like the ACSR) through which students can seek change within the Harvard system. If that system ceases to allow the modicum of student influence it does now, April 1972 may cease to be just a dim memory--and instead become a blueprint for a new generation of activists...