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Columbia Revises Sudan Divestment List

Columbia University announced March 20 that it will remove two companies, ABB and Siemens, from the Sudan divestment list developed in April 2006, and it will add ten new companies to that list.

The decision is based on the unanimous recommendation of Columbia’s Advisory Committee on Socially Responsible Investing, a 12-member body composed of students, faculty and alumni that makes recommendations to the University Trustees on social and ethical issues confronting the University as an investor. The Advisory Committee’s recommendation was approved by Columbia’s Board of Trustees at its most recent meeting. The decision follows the Board’s approval of the Advisory Committee’s April 2006 Statement of Position and Recommendation for Divestment from Sudan, which called for divestment from and prohibition of future investment in 18 companies with business operations in Sudan.

In the fall of 2006, as prescribed by the April 2006 Statement, the Advisory Committee undertook monitoring of the 18 companies on the divestment list, as well as monitoring of the activity of other companies active in Sudan. After extensive review of the available research, the Advisory Committee recommended divesting from 10 additional companies with activity in Sudan. Columbia University currently does not have any direct holdings in the 10 companies to be added to the divestment list. The 10 new companies marked for divestment are Bollore, Electricity Generating Company (EGCO) PLC, Ericsson, ICSA, Indian Oil Corporation, Mobile Telecommunications Co., Muhibbah Engineering (M) Berhad, Petrofac, Reliance Industries, and Rolls-Royce Group PLC.

Below is a full list of all companies marked for divestment.

  • Alcatel
  • Alstom
  • Bharat Heavy Electricals
  • Bollore
  • Electricity Generating Company (EGCO) PLC
  • Ericsson
  • Harbin Power Equipment
  • ICSA
  • Indian Oil Corporation
  • Lundin Petroleum International
  • Mobile Telecommunications Co.
  • Muhibbah Engineering (M) Berhad
  • Nam Fatt
  • ONGC
  • PECD Berhad
  • PetroChina
  • Petrofac
  • Reliance Industries
  • Rolls-Royce Group PLC
  • Schlumberger
  • Sinopec
  • Sudatel
  • Sumatec
  • Tatneft
  • Videocon Industries
  • White Nile Petroleum

Published: Mar 22, 2007
Last modified:Nov 14, 2007