Word: acsr
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LAST WEEK'S DECISION by the Advisory Committee on Shareholder Responsibility seems a hollow victory at best. The ACSR opted to delay consideration of a proposal to lift Harvard's automatic ban on investments in banks that make loans to South Africa...
...that we are at all displeased that students can now protest the Corporation's proposal in an open meeting on March 4. Plainly, an open forum is more likely than the closed Faculty Club meeting last week to encourage the ACSR to oppose the recommendation. What distresses us is that, after that session, ACSR members disclosed that the Corporation has already temporarily suspended the automatic divestiture policy, pending the ACSR's recommendation...
...affect any specific University investments in the next few weeks, but it proves just how strongly committed the Corporation is to scrapping the four-year-old ban, the only concession ever made to students on the issue. Further, it suggest that only the angriest of protests by the ACSR has a hope of reversing the Corporation's fait accompli...
...though, those gains are endangered. The Corporation appears ready to junk its commitment not to place its funds in banks doing business with the Botha government, not to, in effect, lend money to fund apartheid. Through the Advisory Committee on Shareholder Responsibility (ACSR), the Corporation gave indications last week that they would consider the nature of any loans to the government. Were they "humanitarian" in nature, they might be allowed...
...general, we continue to urge the divestiture of all Harvard's holdings in South Africa. In particular, we urge the Corporation and the ACSR to reaffirm the doctrine of not directly supporting the South African authorities in any of their policies. If the Corporation goes back on the promise delivered in the spring of 1978, we hope students have conviction enough to once again take their case to the streets, the only place where they have ever had any effect...