Word: acsr
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...been quiet on the South Africa front lately, but last week brought the disclosure that the Advisory committee on Shareholder Responsibility (ACSR) has advised the Corporation to divest from a company that has violated widely accepted standards of behavior for firms doing business in the apartheid state...
...secret vote--taken at the last ACSR meeting--to urge the Corporation to sell Harvard's approximately $6 million worth of Carnation stock marks the first time in its 10-year history that the advisory committee has recommended stock divestiture of any kind...
Student protestors, too, deserve credit for pressuring the ACSR into taking the stronger stands it has on Harvard's links to the apartheid-ruled nation. With the ACSR and, hopefully, increased student activism, next year further progress can be made in getting the University to disassociate itself with the murderous and repugnant government of South Africa...
...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...