Word: ccsr
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Roderick M. MacDougall '51, Harvard treasurer and chairman of the Corporation Committee on Shareholder Responsibility (CCSR), said at a press conference yesterday that a new investment guideline which prompted the withdrawal of $160 million in funds in eight major international corporations "was influenced by students and alumni" who protest the University's investment policy...
...University's new investment guideline, adopted in 1985 after a recommendation from the Advisory Committee on Shareholder Responsibility, a student-faculty-alumni group that advises the CCSR, requires that the Corporation not invest in companies that supply material used directly in the enforcement of aparthied...
...MacDougall also stressed the University'ssatisfaction with its policy of "intensivedialogue" for monitoring its $520 million investedstocks and bonds of South Africa-linked firms. Hesaid the Corporation is still committed toinvesting in those companies that the CCSR judges"do more good than harm" in South Africa...
Defending the university's decision not to divest, Bok wrote that the Committee on Shareholder Responsibility (CCSR) takes the position that companies can improve the lives of the their own employees in South Africa. As an investor, the university can exercise leverage and ensure that positive steps are taken toward aiding Black South Africans, Bok wrote...
...previewed in Bok's open letter one week ago, the Corporation announced it had divested of $2.8 million in stock of two companies, Allis Chalmers and Tokheim, which did not supply the CCSR with requested information