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Nearly 150 people last week attended a rare open meeting of the Advisory Committee on Shareholder Responsibility (ACSR) held to begin discussion on designing guidelines to aid the Corporation in voting on shareholders resolutions concerning nuclear...
...issue at the open meeting of the Advisory Committee on Shareholder Responsibility (ACSR) will be Harvard's millions of dollars of investments in companies that make nuclear weapons or parts of nuclear weapons. The University owns more than $20 million of General Electric stock, almost $5 million of Du. Pont stock, and about $20 million of AT&T stock, among other nuclear holdings, according to the most recent financial report...
...would be safe to say that the open meeting and the ACSR's coming evaluation of nuclear-related companies in the endowment reflect the country's growing concern over the rapid nuclear arms buildup. In the past, both the Corporation and the student-faculty-alumni ACSR voted against largely symbolic shareholder resolutions asking companies to curb their nuclear weapons work. They argued that nuclear arms policy was the province of the government, not the private sector. Last year, however, the ACSR approved several similar resolutions concerning GE, Du Pont, and AT&T, and the Corporation, not wanting to abruptly renege...
Trying to establish a coherent policy on how Harvard should vote on such resolutions is first on the ACSR's agenda this year, and it will not be easy, or, possibly, even attainable. The path to unanimity is strewn with uncertainty on this fractious 12-member body, and this path is cluttered now by the enormous complexity of the nuclear issue. This complexity dwarfs such heated topics South Africa investments...
Nuclear policy is the issue of the day, affecting all our lives, overawing even other undisputably worthy subjects like South Africa. Whichever way they go on the complicated question of nuclear investments, you have to be glad the Corporation and the ACSR are finally giving it its due attention. It's an outstanding example to present this often esoteric policy debate in a unique way to the Harvard community...