Word: petrochina
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...involves divesting from a mining or oil company that is doing business with some objectionable regime in the developing world. This isn’t surprising; political economy has shown that rare and valuable resources like oil breed corruption. While divestment may be appropriate in some cases, for example PetroChina and Sudan, in most cases it is an impractical option...
More so than happened with the previous two alternative campaigns, the campus mobilized behind Senior Gift Plus and its divestment goals. But rather than removing its investments in Petrochina and other companies, SEC reports showed that Harvard doubled them...
...announcement that the University would divest from Petrochina arrived just as Senior Gift Plus had planned to begin its major fundraising push. The alternative gift disbanded, never having raised much money. But its goal had been realized...
...thesis Wannop declared “Harvard doesn’t like to be forced into changes quickly.” So he was greatly surprised when Harvard readily divested from PetroChina. However his thesis does provide an answer for the University’s unexpected behavior. “I think that part of [the move to divest] was due to the President Summers controversy; [the corporation] did not want to draw more attention to the school,” Wannop said...
Harvard’s divestment from PetroChina marks a victory for activists aiming to end the genocide in Darfur. It is hoped that Harvard’s decision will lead other investors to reconsider their holdings in companies doing business with El Bashir’s genocidal regime. But divestment, with its effect of taking money from the war-waging regime, is but one angle of the campaign. On Friday, the UN special representative on Sudan and the African Union (AU) released a joint statement condemning the recent attack on a small village in southern Darfur where 305 militiamen descended...