Word: petrochina
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Dates: during 2000-2009
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...want you to know about. As much publicity as a headline like “Summers Resigns” gives the paper, we will still always be prouder of “Endowment Tied to Sudan” (the story that first revealed Harvard’s stake in PetroChina, a Beijing-based oil firm) or even “Sophomore’s New Book Contains Passages Strikingly Similar to 2001 Novel.” Investigative journalism is at the heart of what newspapers ought to do, even if it makes the newspaper itself the news. Because it broke...
...University—who helped organize the city’s divestment movement—said he hopes the decision will prompt other cities to do the same.The national drive towards divestment was ignited in 2004 by Harvard’s campaign for University divestment from the oil stock PetroChina, a company involved with the Sudanese government’s ongoing genocide in the western region of Darfur. Since then, other universities and even states have pulled their funds from companies tied to Sudan. Although Cambridge city councillors said there are currently no formal plans for the city to follow...
...House Competition kicked off last Thursday, aiming to avoid the controversy that surrounded the event last year. Last spring, Matthew W. Mahan ’05 and Brandon M. Terry ’05 established “Senior Gift Plus,” which protested University investment in PetroChina, a company with ties to the Sudanese government. This rift fostered concerns among students about exactly how their donations were being spent, and the campaign registered its lowest participation rate since 1999. This year, however, following Harvard’s move to divest from PetroChina and a second oil firm...
When we wrote last April that Sinopec’s involvement in Sudan was not worthy of Harvard’s divestment, Sinopec’s links to the Sudan were much murkier, particularly compared to those of PetroChina. For two decades, Sudan has been embroiled in a civil war between the Khartoum regime in the north that supports the genocide and a fledgling opposition government in the south. Because Sinopec’s Sudanese pipeline project benefited both regimes and was built into the peace agreement ending the civil war, we argued Harvard’s investment was helping...
...blip in the stock’s overall price and claim that it will have little effect on the profitability of others’ investments in Sinopec. Instead, they argue, Harvard’s action is only symbolic. Harvard, however, has attracted media attention to the genocide, and its PetroChina divestment set a precedent followed by a number of other institutions, including Amherst College, Yale University, Stanford University, and recently the entire University of California system. Furthermore, the University’s profiting from slaughter contradicts every one of Harvard’s values. Even if divestment is only symbolic...