Harvard to Divest of Sudanese Holdings

The Harvard Corporation announced this Monday its decision to have Harvard Management Company divest its holdings of stock in PetroChina Company Limited. The decision, divesting $4.4 million, is a major accomplishment for student activists who have been encouraging the University to divest from any support of the Sudanese genocide.

"This decision reflects deep concerns about the grievous crisis that persists in the Darfur region of Sudan and about the extensive role of PetroChina's closely affiliated parent company, China National Petroleum Corporation, as a leading partner of the Sudanese government in the production of oil in Sudan," said the University's Corporation Committee on Shareholder Responsibility (CCSR) in a statement endorsed by the Corporation.

. . . The divestment decision represents a major accomplishment for student activists Ben Collins and Manav Bhatnagar who started the Harvard divestment petition. The divestment campaign was a coalition under the United Front for Divestment, and the students were able to generate more than 400 signatures by both students and faculty for their petition. The students also made a compelling presentation to the ACSR which ultimately prompted divestment.