Word: petrochina
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Harvard announced yesterday that it will sell its stake in PetroChina, bowing to pressure from students and faculty members who had denounced the Beijing-based oil company for its ties to the Sudanese government...
...PetroChina is a spin-off of the China National Petroleum Company, which has invested over $1 billion in a joint venture with Sudan to increase that country’s oil exports. Harvard’s decision makes the University the first institutional investor to cut ties with PetroChina in response to the Darfur crisis, activists said...
Today at 10:30 a.m., the United Front for Divestment, a coalition of many campus student groups, is assembling to protest Harvard’s investment in PetroChina, which is a subsidiary of the China National Petroleum Company (CNPC). The CNPC is an oil company almost solely owned by the Chinese government and has been the subject of much student controversy given its involvement with the Sudanese government’s genocidal regime. Students will be rallying in front of Loeb House, where the Corporation Committee on Shareholder Responsibility (CCSR)—which advises the Harvard Corporation on investment...
There is little argument that this genocide must be stopped. Harvard currently has upwards of $4 million invested in PetroChina, and it should divest entirely from the company. This would send the message to the world that Harvard will not support the CNPC and its funding of murder...
...United Front for Divestment is hoping to make clear and obvious to the CCSR that students oppose investment in PetroChina. The group has done an excellent job bringing together a variety of Harvard student groups who share this common purpose, including the Darfur Action Group, Senior Gift Plus, Amnesty International, Harvard African Students Association, the Harvard Democrats, Asian American Association, Hillel, and many more...