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
