Word: acsr
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...CCSR oversees the voting of Harvard's shares in shareholder resolutions. It considers the recommendations of the Advisory Committee on Shareholder Responsibilty (ACSR), which reviews ethical questions in shareholder resolutions and occasionally proposes new investment policy. The CCSR followed the ACSR's advice on more than 90 percent of this year's 110 proxy votes...
Four years ago the ACSR voted to recommend that Harvard divest from all South Africa-related stocks but this year's ACSR reversed this position and supported the University's policy of selective divestment...
...absence of any sense of responsibility in the tobacco companies prompted the Advisory Committee on Shareholder Responsibility (ACSR), a panel of faculty, students and administrators which advises the Corporation on ethical investing, to recommend to the CCSR that Harvard divest from these companies. Ironically, the ACSR also once recommended that Harvard divest from its holdings in South African-related companies. This was advice which the University, which retains about $200 million in such stock, has largely disregarded-much to its discredit...
...Once we receive the answers to thosequestions, it will be appropriate this year toconsider the question of whether we are preparedto recommend selling the University's stock intobacco companies," said Law Professor Lance M.Liebman, chairman of the ACSR...
Other committee members said after the panel'slast meeting in the spring that unsatisfactoryanswers to this new set of inquries could promptthe committee to recommend divestment. "There hascertainly been the sense that we would be verycautious about anything that would extend the saleof tobacco products," said ACSR member Carol H.Weiss, a professor at the School of Education...