Word: ccsr
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Contrary to popular belief, Harvard's governors have not been monolithically and uniformly opposed to divestment. Actually, Harvard's policy has changed gradually over the years, approaching but never reaching complete divestment. The Corporation Committee on Shareholder Responsibility (CCSR), which sets University policy on ethical investment, has for years maintained a line of "selective divestment...
Shareholders annually submit resolutions asking their companies to withdraw or cut ties from South Africa. On behalf of the University, the CCSR votes on these shareholder resolutions...
Today, Harvard invests $148 million of its near-$6 billion in net assets in 21 U.S. companies with holdings in South Africa, according to a report released last week by the CCSR...
Four years later, a joint committee of members of the Corporation and its junior governing board, the Board of Overseers, recommended in a report to the University that Harvard adopt a policy of generally supporting corporate withdrawal from South Africa. Since then, the CCSR has endorsed this policy...
...wake of these recent events, the student calls for complete divestment have faded substantially, and now, the CCSR's advisory committee for the first time have expressed a majority opinion that some companies should not be asked to withdraw from South Africa...