Word: divest
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While Harvard continues to hold shares in firms currently operating in Sudan, Yale announced yesterday that it will divest from seven oil companies that it deems partly responsible for funding the Sudanese government.The Yale Corporation, the school’s governing board, reached the decision at a Feb. 11 meeting after an advisory committee of students, faculty, and staff recommended divestment.“The time-honored principles that Yale observes as an ethical institutional investor have guided us to take this strong action,” Yale President Richard C. Levin said in a statement.Yale...
...Sinopec shares would have been approximately $7.8 million as of the close of the New York Stock Exchange yesterday. University spokesman John D. Longbrake declined to comment for this article in an e-mail, citing University policy to not comment on specific investments. The University announced its decision to divest from PetroChina in April of last year due to “deep concerns” about the role of PetroChina’s parent company, the China National Petroleum Corporation, in supporting the Sudanese regime. A report by the Harvard Corporation Committee on Shareholder Responsibility (CCSR) stated that...
Amherst College will divest from firms that conduct business with the Sudanese government, which has been accused of facilitating the ongoing genocide in Darfur, the Massachusetts liberal arts school announced yesterday...
...future investments. Amherst does not hold any shares directly. Instead, the school said a “small number” of outside fund managers who invest on Amherst’s behalf do hold shares of some of the companies, and will be instructed to divest...
...June 2005, Stanford became the second major school to divest from firms linked to Sudan, announcing that it would sell direct stakes in PetroChina, Sinopec, Tatneft, and power and automation equipment company ABB Ltd. Elsewhere, at Yale, an advisory committee is preparing a report on whether the school should divest from companies tied to Sudan...