Word: sinopec
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Dates: during 2000-2009
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Nearly a year later, Harvard announced that it would divest its stock in Sinopec, also known as the China Petroleum & Chemical Corp. Harvard said at the time that “the particular combination of circumstances bearing on Sinopec Corporation’s involvement in oil production activities in Sudan warrants the unusual step of divestment...
...Harvard still indirectly owns significant quantities of stock in both PetroChina and Sinopec...
According to the most recent data provided by Barclays, the China fund had invested 8.4 percent of its assets in PetroChina and 4.2 percent in Sinopec, meaning that Harvard holds about $4.3 million of stock in PetroChina and $2.1 million in Sinopec through that arrangement...
Meanwhile, the emerging markets fund had invested 1.1 percent of its assets in PetroChina and 0.7 percent in Sinopec, meaning that Harvard holds another $5.7 million in PetroChina stock and $3.5 million in Sinopec through that mechanism...
...revelation that the University could own $16 million in PetroChina and Sinopec stock is particularly stunning considering that at the time of the earlier, highly-publicized divestitures, Harvard’s disclosed direct investment in the two companies totaled just $10 million...