Word: petrochina
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...Harvard doubled its investment in PetroChina, a company accused of having ties to the dictatorship in Sudan, Terry and former UC president Matthew W. Mahan ’05 founded Senior Gift Plus to protest the University’s “lack of conscience.” Though Terry was no longer president of the BMF, having passed the role onto Kwame Owusu-Kesse ’06, the organization stood behind its former leader’s convictions. BMF joined with the other black organizations on campus and formed a strong black presence at the silent protests...
Just as the Harvard Corporation announced the long-awaited divestment from PetroChina, a new student group, the Burma Action Movement (BAM), is trying their luck with the divestment approach. Their logic echoes that of the recently-disbanded Senior Gift Plus. The group claims that Harvard’s investment in Unocal, an oil and gas company, is unethical and hypocritical. By conducting business in Burma, BAM argues, Unocal contributes to the human rights violations of the Burmese junta, which includes systematic rape, ethnic cleansing, and the stifling of political dissent. Thus, Harvard is guilty by association...
...misdirected call for divestment implies that perhaps their cause could benefit from better research. Without properly considering all the options before taking such a drastic step such as calling for divestment, BAM loses legitimacy and value. BAM should not attempt to capitalize on the success of the PetroChina cause, since the situations are entirely different. PetroChina had a concrete link to business in Sudan and the state-sponsored genocide. The company appeared to be a back-door way to unethically invest money in Sudan, given that the U.S. prohibits any direct investment in Sudan. Unocal, since it lacks substantial business...
While Harvard announced last week that it will divest from PetroChina, the University has maintained investments in other companies that have drawn fire from activists for alleged ties to human-rights abuses, including oil and gas company Unocal Corp...
...February, with his UC term behind him, Mahan joined forces with former Black Men’s Forum president Brandon M. Terry ’05 to launch a protest fund in opposition to the University’s investment in PetroChina, an energy corporation with ties to the Sudanese genocide...