Word: africas
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Dates: during 2000-2009
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...Crimson in September 1985 reported that the University held about $430 million in South Africa-related investments. This amounted to about 19 percent of the $2.3 billion endowment...
...student-led push for Harvard to divest from companies doing business South Africa came amidst the country’s continued marginalization from the international community—South Africa had been barred from the General Assembly of the United Nations and was not allowed to participate in the Olympics. The South African government also faced other countries’ attempts to ban international trade with the state and it desperately needed loans from the International Monetary Fund...
...Meanwhile, students at Harvard organized discussions, forums and protests to raise awareness and encourage divestiture from South Africa...
...event, which was cosponsored by the Harvard Race Relations Foundation, was first suggested during a hunger strike the previous spring to protest the University’s policy on divestiture. More than 19 undergrads and one professor fasted for a week to protest Harvard investments in South Africa. That same year, seniors established the Endowment for Divestiture, with the intention that Harvard would receive the money only when it divested. The end of the hunger strike in the spring of 1983 coincided with a meeting of the Advisory Committee on Shareholder Responsibility (ACSR), comprised of students, faculty and alumni...
...ACSR recommended that the Corporation use the Sullivan Principles, which provided humane guidelines for the operation of companies in South Africa, as a minimum standard for the endowment’s investment practices. At the same time, in 1983, 37 of the 39 companies in which the University owned stock had signed the Principles, but some divestiture proponents argued that not all of the signatory companies had actually lived up to the document’s stipulations...