Word: divestments
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Dates: during 2000-2009
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Earlier in the decade, the CCSR recommended that the University divest itself of stock held in PetroChina Company and Sinopec Corporation due to concerns about the oil companies’ ties with the Sudanese government and the ongoing Darfur humanitarian crisis in the country...
...United States or with Iran. In October, the House overwhelmingly passed the Iran Sanctions Enabling Act by a vote of 414-6 (one of the bill’s original co-sponsors was Harvard alum and Massachusetts Representative Barney Frank). This bill authorizes state and local governments to divest from companies investing in Iran’s petroleum and natural gas sector or doing business with Iran’s nuclear industry. Since these companies are already liable for sanctions under the Iran Sanctions Act, states have a fiduciary responsibility to consider the financial consequences of holding stock in them...
Nearly twenty states have already passed legislation divesting their state pension plans of any foreign company that invests more than 20 million dollars a year in Iran (there are 19 such companies). Scores of municipalities and labor unions are beginning to follow suit. Given today’s economic climate, it is financially prudent for Harvard to divest its holdings from companies that could soon be the target of American and international sanctions...
...October, the Student Government Association at Morehouse, the nation’s oldest liberal arts historically black college (and Mr. Bennett’s alma mater), formally requested for their institution’s endowment to divest from companies doing business in Iran’s energy sector. Richard Fulton, a student signatory to the letter, declared in an editorial that the motivation behind the letter was “in order for the voices and concerns of Morehouse students to have real resonance in the various human rights and national security debates of our time…Iran?...
...should be inspired by the students at Morehouse to follow suit here at Harvard. The Harvard Corporation has acquiesced to student pressure to divest in the past. In 1989, a campaign of three students ultimately led Harvard to divest from tobacco companies. In 2005, Harvard became the first university in the country to divest from Sudan, choosing to sell its holdings in PetroChina after two undergraduate students started an online divestment petition...