Word: sinopec
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...linked firms in a statement released Saturday, urging the University to emulate a similar move by Yale last week. One of the campaign’s leaders, Jennifer T. Morse ’07, said the impetus for the recent push was Harvard’s increase in its Sinopec holdings. The stake had increased by 1,150 shares by the end of last year, according to SEC filings. The group laid out plans to begin a coordinated campaign for divestment at an organizational meeting of 13 students yesterday. Morse and Benjamin B. Collins ’06, co-founder...
...contract with Coca-Cola, and Stanford’s, Yale’s, and Amherst’s divestment from all companies doing business in Sudan, indicate that this debate is anything but a closed case. And divestment remains in the news—Harvard still holds shares in Sinopec, another company with links to the Khartum regime...
...both the standards set by its peer institutions and the criteria set forth by the Harvard Corporation in the PetroChina decision. A prudent place to start would be an unequivocal ban on investments that facilitate governments responsible for committing or supporting Congress-declared genocides There is no excuse for Sinopec, which is involved in Sudan in the same way as PetroChina, to remain in Harvard’s portfolio—since the University has taken a moral stance against genocide in Sudan, it behooves them to be consistent. Other schools that divested from PetroChina, like Yale, Stanford, and Amherst...
Last year’s PetroChina divestment campaign sparked a campus debate on how politicized, if at all, the Harvard endowment should be. The problem with seeking maximum returns in investments is that companies like PetroChina, Sinopec, Unocal that either indirectly facilitate or are directly complicit in grave human rights abuses remain in Harvard’s portfolio. Fortunately, last year the University agreed that Harvard must ensure that its money is not used to facilitate morally bankrupt activity. Citing President Derek C. Bok’s precedent that divestment is reasonable in “exceptional circumstances...
...universities such as Stanford, Amherst, and Dartmouth. Harvard announced this past April that it would divest from PetroChina, a subsidiary of the Chinese National Petroleum Corporation (CNPC), after pressure from students and some faculty members. But Harvard continues to hold a stake in a second Beijing-based oil company, Sinopec, which also does business in Sudan.PetroChina and Sinopec were both listed among the seven companies targeted by Yale’s divestment move yesterday. According to documents released by the federal Securities and Exchange Commission, Harvard held 134,050 shares of Sinopec as of the past calendar year. If Harvard...