Word: petrochina
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Following Harvard’s lead, Stanford University last week became the second major institutional shareholder to divest from oil company PetroChina in protest of the Beijing-based firm’s role in funding the ongoing genocide in the western Sudanese region of Darfur...
While Harvard—citing the “unusual combination of circumstances presented by this particular holding”—limited its April divestiture to PetroChina, Stanford announced that it would also pull out of three other stocks linked to the Sudanese regime, including Swiss-based engineering firm ABB Ltd., Russian state-run oil producer Tatneft, and Chinese oil company Sinopec...
Student activists have called on Harvard to cleanse its endowment portfolio of all companies that conduct business with the Sudanese government, accusing the University of following a double-standard by divesting from PetroChina while maintaining stakes in Sinopec and Tatneft...
...didn’t even know Harvard had divested from PetroChina,” says Adrian Loh, a Singapore-based regional energy analyst for Merrill Lynch. “That’s new news...
...taken off in the way we hoped it might,” says Matthew W. Mahan ’05, a co-founder of Senior Gift Plus, whose members had pledged to withhold their graduation donations from the Harvard College Fund until the University cut its ties with PetroChina...