Word: ccsr
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...report released last week indicated that the market value of the University's South Africa-related stocks rose by about $30 million during the second half of 1989. The report, written by the Corporation Committee on Shareholder Responsibility (CCSR), said the investments grew from $138.9 million last June to $168.6 million in December...
Although Harvard's role as a share-holder was not included in the official agenda for yesterday's meeting, several overseers briefly addressed the issue, board members said yesterday. Overseer Peter H. Wood '64 said he and a handful of his colleagues questioned whether the CCSR was following the non-binding recommendations of its advisory committee...
...CCSR votes on proxy resolutions for companies in which Harvard owns stock, and Harvard policy mandates that the proxy votes follow the Sullivan Principles, a set of labor criteria for businesses involved in South Africa...
While Wood said he was not concerned about the change in Harvard's investments, he said he did have doubts about the CCSR's adherence to the Sullivan principles in proxy votes on South Africa-related holdings...
...still not clear to some of us that this is being handled in a way the Board has agreed upon," he said. "What strikes me is that there is considerable disagreement between the CCSR and the advisory committee in many instances that relate to South Africa...