Word: acsr
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...ACSR--composed of students, faculty and alumni--makes non-binding recommendations to the Harvard Corporation on ethical questions related to the management of the University's endowment. The governing Corporation is now considering the report...
During the past year Harvard's investment in companies that do business in South Africa have continued to provoke intense concern on the part of many in the Harvard community whose views have been conveyed to the Committee (ACSR) in numerous letters and written statements and in oral statements made at an open hearing held by the Committee in March. Many of these communications express profound dissatisfaction with existing University policies regarding Harvard's ethical responsibilities with respect to such investments...
...result of initiatives undertaken by the Corporation Committee on Shareholder Responsibility (CCSR) and others suggested by the ACSR, several modifications have recently occurred in the implementation of Harvard's existing policies with respect to such investments. The committee has considered these modifications and other alternatives to existing University policies. This process of study and deliberation has persuaded the Committee that existing policies must be substantially changed. As developed below, however, the Committee is divided on the extent and nature of the changes that are appropriate...
...ACSR extensively studied and issued a unanimous report on the shareholder responsibility issues raised by Harvard's investments in companies doing business in South Africa. The Committee first concluded that South Africa presented unique issues of shareholder responsibility and that Harvard should therefore develop special policies for its investments in companies doing business there (hereinafter referred to as portfolio companies...
Finally, the ACSR concluded that divestiture by Harvard might be appropriate in cases where companies have shown "intransigence in adopting policies advocated by Harvard" or where "management policy has demonstrated direct and substantial support of apartheid," as, for example, by making loans to the South African government...